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Sultanate of Oman Overview • Country of contrasts, rich in history • 43 years ago Oman was a backwater, ruled over by Sultan Said bin Taimur, a man more ...

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Published by , 2016-03-29 20:06:03

The Sultanate of Oman

Sultanate of Oman Overview • Country of contrasts, rich in history • 43 years ago Oman was a backwater, ruled over by Sultan Said bin Taimur, a man more ...

The Sultanate of Oman

Context

Can or should any western company
try to go there for the first time,
and can they hope to prosper?



Sultanate of Oman Overview

• Country of contrasts, rich in history

• 43 years ago Oman was a backwater, ruled over by Sultan
Said bin Taimur, a man more comfortable with the past
than the future

• Since 1970, HM Sultan Qaboos bin Sa’id al-Sa’id has
overseen and managed an extraordinary renaissance

• In 2011, the UN recognised Oman as having developed
more in the last forty years than any other country in the
world

• If an Omani is over 50, childhood memories must seem to
be of a different country: a few miles of metalled road, no
real schools, hospitals, public utilities or industry.....

Economy

• Welcoming business environment with less bureaucracy than most other
regional countries

• HM actively encourages FDI and expatriates - who in turn benefit from a
benign business environment

• HM The Sultan’s directives are based on the Oman 2020 vision. This aims to
reduce reliance on oil and gas by 18%.

• Still heavily dependent on hydrocarbons: BP, Shell, PDO all active

• Attempts being made to diversify both the economy and energy sources

• Ports – Duqm: multi £B port, SEZ, and industrial city project that will
initially house 60,000 people

• Railway running north to south and across the region from Kuwait to Yemen

• Improve Road Infrastructure and links

• Promote tourism

So What?

• Demographic and economic pressures will push the pace of development
and investment, creating very respectable market opportunities

• Business will be more expensive, but also bigger and more profitable.

• Infrastructure, private health care and education, consumer goods,
housing and leisure facilities will boom.

• The development of downstream industries and major infrastructure and
tourism projects will benefit investors and contractors who are willing to
do the work - and understand where they are working.

Stability and Security

• Politically stable
• Oman is an absolute monarchy ruled by the Sultan and his

appointed government
• Slow but steady diversification of the political decision making

authorities: bicameral Council of Oman acts as an advisory body
• In 2003, HM granted universal suffrage for the lower chamber

(Majlis al-Shura) elections to all male and female adults over the age
of 21
• Excellent security apparatus: ROP, ISS, Royal Office, well-trained
armed forces, Royal Guard and SSF
• Difficult area for extremists to operate

Regional Politics

• Iran - close

• Saudi Arabia – volatile

• Yemen - careful

• UAE - complex

• GCC - independent

Social

• Quiet progress since 1970 – more integrated society than elsewhere
• Religious tolerance
• HM the Sultan has proved to be an enduring and genuinely loved

and popular leader - two somewhat uncommon attributes for the
region
• Succession planning
• Tolerant, extremely friendly society
• Probably the happiest expatriates in the Gulf

Conclusion

"I am working for Oman - the country
and its people...for me it is a delight to
see my country and my people in the
situation I imagined from the very
first day I assumed power. I feel that I
am a man with a mission rather than
a man with authority.”

HM Qaboos bin Sa’id


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