Oman’s plans to diversify and liberalise its economy are mapped out in the most comprehensive English language report on the country’s investment and business opportunities ever published.
The Report: Oman 2009, produced by Oxford Business Group (OBG), and marking the renowned publisher’s fifth edition on the Sultanate, was launched on May 6 at the Grand Hyatt Muscat under the patronage of His Excellency Maqbool bin Ali Sultan, Minister of Commerce and Industry. In attendance were foreign and local dignitaries and business leaders.
His Excellency Mohammed Nasser Al Khasibi, Secretary-General, Ministry of National Economy, delivered the keynote address and outlined the opportunities for foreign investors.
“When investors seek out countries for foreign direct investments, they are commonly attracted foremost to a nation’s stability followed by its investment, legal and financial framework. In this sense, the Sultanate of Oman continues to remain an extremely attractive place for investors,” he said.
Addressing some of the challenges facing the Sultanate, Al Khasibi added: “His Majesty’s Government continues to keep a vigilant eye on local, regional and global economies and is committed to shepherding the country through volatile times.”
OBG’s Regional Editor for the Gulf region, Oliver Cornock, who also made a presentation at the event, highlighted Oman’s enviable position.
“The Sultanate has made considerable strides in its path towards economic diversification and embraced the role the private sector has to play. Coupled with an increasingly business friendly regulatory environment, this means that when the global outlook picks up Oman will find itself in a solid position to attract foreign investment,” he said.
His Highness Sayyid Faisal bin Turki Al Said, CEO of Oman Brand Management Unit (OBMU), stressed to the audience the importance of conveying a strong national brand identity to help usher in more inward investment and tourists.
“I believe that developing and communicating a strong national brand identity can only help speed up Oman’s development by attracting foreign investors and tourists. That, in turn, will build familiarity with, and loyalty to, Oman’s unique products and services, help local companies grow and create jobs and increase the Sultanate’s global influence,” he said.
The Report: Oman 2009 features a series of interviews with and viewpoints from local and international business and political leaders, including His Majesty Sultan Qaboos bin Said Al Said; Manmohan Singh, Prime Minister of India; Han Seung-soo, Prime Minister of the Republic of Korea; Sir John Major, former Prime Minister of the UK; Ahmed bin Abdulnabi Macki, Oman’s Minister of National Economy; Sheikh Suhail Salim Bahwan, Chairman of Suhail Bahwan Group; Nils S Andersen, CEO of A.P. Moller-Maersk Group.
Available in print form and online, The Report: Oman 2009 has been produced in partnership with OBMU as well as three additional local research partners: Abu Timam Grant Thornton for accountancy; Al Madina Financial and Investment Services for capital markets; Al Busaidy, Mansoor Jamal & Co. for legal affairs.
The Report: Oman 2009 is part of the range of OBG’s publications, which are recognised as leading sources of political and business intelligence on developing and emerging economies worldwide.
OBG is now preparing The Report: Oman 2010, which will mark the forty years of the modern Sultanate.
About Oxford Business Group
Oxford Business Group (OBG) is a global publishing, research and consultancy firm publishing economic and political intelligence on the markets of the Middle East, Eastern Europe, Africa, the Caribbean and Asia. Through its range of print and online products, OBG offers comprehensive and accurate analysis of political, macroeconomic and sectoral developments, including banking, capital markets, energy, infrastructure, industry and insurance.
The critically acclaimed reports have become the leading source of business intelligence on the rapidly developing countries in the regions the firm covers. OBG's online economic briefings provide up-to-date in-depth analysis on the issues that matter for thousands of subscribers worldwide. OBG's consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.