LatestOman News

Omanisation drive will not pose problems for foreign investors: Report

TAS News Service
January 26, 2021 12:00 pm

MUSCAT : London based Arab Weekly has praised the Ministry of Labour’s decision to Omanise certain job professions and said it did not expect the nationalisation drive to pose major problems for private foreign companies and investors, given the economic advantages and incentives that these companies enjoy in Oman.

“The political environment provides foreign companies with security and stability, reflected by the smooth transfer of power after the passing of the late Sultan Qaboos bin Said early last year and His Majesty Sultan Haitham bin Tariq’s assumption of power,” the report said.

“The nationalisation moves in a market accustomed to cheap labour shows that Oman’s new leadership is serious about reform, analysts said.

“Many of Oman’s reforms affect the economy, which authorities are seeking to revitalise and open up to Omani citizens as they enter into the labour market,” the report added.

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