Oman is among the few countries in the world that are considered ideal for long-term investments. It posses a modern infrastructure, a strong industrial base, a stable government, and, most notably, the institutions that protects investors and ensures their access to the market.
Poised at the entrance to the Gulf, the source of two-third of the world's oil exports, Oman is in the middle of the East-West trade routes, ensuring easy access to markets in the Middle East, India, South-East Asia, Africa and Europe. Membership of various regional associations has further uniformed the trade routes. Oman membership in World Trade Organization (WTO) ensures its adherence to international trade norms and practices. Oman is also a member of the Indian Ocean Rim Associations for Regional Cooperation, which opens up a potential market of over 1500 million consumers. In addition, membership of the Arab Gulf Cooperation Council ensures duty-free export of products within the member countries.
Policies for business success
Oman is one of the most progressive countries in the Middle East. In this regard, it has worked at creating the right climate for new investments by developing a free, competitive economy with equal opportunities for all, and shaping laws and regulations that encourage enterprise.
A stable and farsighted government is behind all that Oman has to offer. The Omani Rial is pegged to the US dollar and is freely convertible. Liberal investor-friendly policies have been implemented, while procedures for clearances and approval have been simplified. Education and vocational training have been given priority, to ensure that a professionally trained workforce is being developed. The abundant local labor can be harnessed and trained to specific requirements. In addition, investors have easy access to a skilled and disciplined external workforce.
Oman offers unmatched incentives to foreign investor which aim at guaranteeing the long-term objectives that serves the interests of the investor's community as well as the country and its people. Business incentives offered to inverters in Oman include, among many, the followings:
• Up to 100% foreign ownership.
• Provision of soft loans with low interest rates and easy payback periods.
• Exemption from customs duty on import of plant and equipment.
• Relief from customs duty on raw materials for up to 10 years.
• No personal income tax.
• Corporate tax holiday of up to 10 years.
• Full repatriation of capital, net profit and royalties.
• Export credit insurance through export.
• Guarantee and Financing Agency
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