Muscat - A new report by the global research and advisory firm Oxford Business Group (OBG) will map out the latest developments in Oman’s privatisation efforts and drive to attract investment for the non-oil sectors of its economy, such as transport and logistics, tourism and mining.

The Report: Oman 2020 will look in detail at the legislative and regulatory reforms that have been introduced with the aim of enhancing the sultanate’s business climate for investors. Key topics to be analysed include the recently announced Commercial Companies Law, which is expected to be pivotal in attracting foreign direct investment (FDI) to Oman.

Oman International Development and Investment Company (Ominvest) has signed a partnership agreement with OBG for its forthcoming publication. Under the agreement, Ominvest will help to produce the Capital Markets Chapter of The Report: Oman 2020 and other content that will be made available across OBG’s platforms.

Abdulaziz al Balushi, group CEO of Ominvest, said that he was delighted to be teaming up with OBG once again for its report on Oman’s economic development and investment opportunities, adding that the publication’s timing was significant on many levels. “Building a strong partnership between the government and the private sector is extremely important for economic growth as recent major enhancements in the new Commercial Companies Law have exemplified,” he said.

Welcoming Ominvest on board, Jana Treeck, OBG’s managing director for the Middle East, agreed that the sultanate’s bid to position itself as an attractive destination for FDI was gathering pace.

“Oman has taken major strides forward in recent months by laying the legislative groundwork needed to steer the country towards a sustainable, knowledge-based economy,” Treeck said.

Naiade Freitas, OBG’s country director for Oman, said, “Oman has already made several reforms in 2019 to make the business environment more friendly, for an example through the enhancement of public private partnerships (PPPs), privitisation, and foreign capital investments.”

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