Oman’s efforts to create a legal framework aimed at supporting the development of smaller businesses will be explored in a forthcoming report from the global publishing, research and consultancy firm Oxford Business Group (OBG).
The Report: Oman 2015 will map out the government’s efforts to develop the country’s workforce, while analysing the implications of revisions made to the Sultanate’s Labour Law.
It will also assess the impact that reforms are playing in driving forward new policies, as the Sultanate moves to boost non-oil growth, in line with its long-term development plan, Oman Vision 2020.
OBG has signed a research Memorandum of Understanding (MoU) with leading international law firm Dentons, for the forthcoming business intelligence report on Oman. Under the MoU, OBG will have access to the firm’s expertise and research resources which will be used collaboratively to compile the Legal Framework Chapter of The Report: Oman 2015.
OBG’s Regional Editor, Oliver Cornock, said that changes to Oman’s legislative framework had set the scene for the country to focus on the next phase of its long-term plans, which are expected to prioritise human resource development.
“Oman’s push to diversify its economy on the back of the country’s hydrocarbons wealth is gaining pace,” he said. “Infrastructure projects are taking shape, while the government has invested heavily in entrepreneurial initiatives, education and training. Much of this development has taken place against a backdrop of reform and I’m delighted that Dentons’ team will be working in partnership with us to analyse the role that new legislation is playing in moving the country forward.”
Paul Sheridan, Managing Partner at Dentons, said, “We are pleased to partner with OBG to deliver this report. Oman’s story over the past 35 years since we first opened an office in Muscat has been one of extraordinary success in a relatively short time. The speed of this development naturally brings new issues and problems to be resolved – human resources development being one and the development of a robust SME sector being another. Long term growth across key sectors such as logistics, manufacturing, tourism and agriculture and fishing is essential, in addition to the further development of the energy sector.”
OBG’s Country Director, Cate McCabe, welcomed the opportunity to work with Dentons, saying its long standing presence in Oman, its local expertise and international knowledge would strengthen the Report’s analysis of Oman’s legislation.
“Oxford Business Group has long recognised how important it is for international companies to be familiar with a country’s legal environment when making their investment decisions,” she said. “As one of our established partners, Dentons has already made a valuable contribution to our analysis of Dubai’s economy. I look forward to building on that relationship here in Oman as we review and assess the next stage of development of the business environment of the Sultanate.”
The Report: Oman 2015 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be available in print or online.
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