12% GDP growth is what Oman posted in 2018 bucking the global trend of decelerating growth in addition there are some intense efforts being taken by the government apart from country of course to diversify the economy and promote trade and investments today we look at the new laws that are bomb to make Amman business friendly foreign capital investments law foreign investors who plan on investing in Oman can now just heave a sigh of relief in order to promote the Sultan its position as an investment destination this law removes a minimised stretch shape and streamlines procedures and permits necessary to start foreign investments within the Sultanate for instance foreign investors will no longer be required to have local money partners the law will also offer advantages and incentives to attract foreign investment and grant these investors the necessary guarantees for its investment projects public-private partnership law as the name suggests the law encourages Omani businesses to work in partnership with the government basically they want to push the private sector firms to invest in infrastructure projects and public services improve the quality of public services and reduce their establishment and operations cost privatisation law well through this law the government hopes to move a part of the Omani economy from public to private and will expand the role of the Sultan its private sector in ownership and management it also aims to raise resource management efficiency improve services and create high-quality job opportunities bankruptcy law now this law is great as it helps distressed businesses to revive and resume their economic activity how it will set a pre preventive composition stage called restructuring through which the concerned parties cooperate with distressed business people to support them to restructure their businesses as well as encourage investment and entrepreneurship a legislative and legal framework that enables businesspeople to overcome the debt stage will be created with visions on bankruptcy set out based on the rights of the bankruptcy creditors and the Public Interest well like I mentioned earlier all of these four laws are going to make Amon a more business-friendly market well we will continue bringing to you stories from Oman and around the region until then hit that subscribe button and don’t forget to like follow and share this video you
