Oman Supp - Indo-Arab Chamber of Commerce and Industries

Sultanate of
Oman
National Day Special Supplement
November 2014
INDO-ARAB CHAMBER OF COMMERCE & INDUSTRIES
AN ISO 9001:2000 ORGANISATION
Oman A Brief Profile
Company established vide the
Royal Decree No. 99/2007 dated
23 September 2007 which
stipulated the merger of Sohar
Refinery Company LLC into Oman
Refinery Company LLC.
NAME OF THE COUNTRY:
Sultanate of Oman
Royal Decree on 17th of December
1970. It is rectangular in shape and
comprises two crossed swords with
HEAD OF STATE:
an Omani khanjar (dagger)
His Majesty Sultan Qaboos bin
superimposed upon them. The flag
Said (since 1970)
is in three colours: white to
AREA: 309,500 sq. km.
symbolise peace and prosperity,
NEIGHBOURING COUNTRIES: red for the battles fought by the
Yemen Arab Republic, Kingdom of Omani people to expel foreign
Saudi Arabia and the United Arab invaders during their long history,
and green to represent the
Emirates.
country's fertility and agriculture.
The swords and Khanjar (dagger)
have been used as the country's
emblem since the middle of the
eighteenth century.
BANKING SECTOR:
POPULATION: 3,027,959
(July 2011 est.)
The official language is Arabic
CAPITAL: Muscat
MAJOR CITIES: Salalah, Nizwa,
Sur, Sohar
CURRENCY: Rial Omani (OR) of
1,000 baizas = US$2.58
NATIONAL DAY: 18th November
POPULATION GROWTH RATE:
2% (2003)
GOVERNMENT:
A bicameral system.
he banking sector is an important
factor in maintaining financial
equilibrium and economic stability.
The Omani banking sector, which
comprises the Central Bank of
Oman (CBO) and various
commercial and specialised banks
operating in the Sultanate, is
stable, highly efficient and able to
respond to regional and
international developments,
including the growing trend
towards freeing up financial
services within the framework of
the World Trade Organisation
(WTO).
Greetings &
Felicitations
on the Occasion of
National Day
of the
Sultanate of
Oman to
H.H. Qaboos Bin Said
Today, Oman is a member of
several economic blocs including
the Arab Gulf Co- operation
Council (AGCC), the Greater
Arab Free Trade Zone, the Indian
Ocean Rim Association for
Regional Cooperation (IORARC)
THE GAS SECTORS:
a n d t h e Wo r l d Tra d e
Oman LNG LLC is a limited liability Organisation (WTO).
incorporated joint venture
company established by Royal
Decree in 1994 and operating
under the laws of the Sultanate of
Oman. It produces and sells
liquefied natural gas (LNG) and a
byproduct, Natural Gas Liquids The Sultanate has upgraded its
laws on investment activity and
(NGL’s).
has introduced “One Stop Shop”
The Company undertakes, clearance facilities along with
directly or indirectly, project s i m p l i f i e d , t r a n s p a r e n t
o p e ra t i o n s a n d a c t i v i t i e s procedures. There is close
necessary to liquefy, store, coordination between the
transport and market natural gas. bodies and authorities involved
The Company’s head office is in in providing ser vices for
Muscat, and it operates three investors, while current moves
liquefaction trains at its site in towards the establishment of eQalhat, near Sur, in the Sharqiyah government have led to a
region:
growing reliance on electronic
channels. Commercial laws and
Two owned by Oman LNG LLC .
regulations are being
One owned by Qalhat LNG SAOC.
streamlined, including the Law
The nameplate capacity of the on Trade Marks, Descriptions,
site is 10.4 million tonnes per Trade Secrets and Protection
annum.
against Unfair Competition, the
Oman LNG’s activities contribute regulation of foreign trade
to the Government of Oman’s representation offices, the
OMAN AT A GLANCE
On this glorious occasion of the 44th
National Day of the Sultanate of Oman,
I would like to take this opportunity to
express my heartfelt congratulations
to His Majesty Sultan Qaboos bin Said
Sultan of Oman and people of the
Sultanate of Oman.
Oman has played a great role in
developing Oman' economy. The
Indian community is the largest
expatriate community in the
Sultanate of Oman. The number of
Indian community in Oman is around
500,000.
The trade relations between India and
Oman are very old, deep rooted and
strong backed to the past many
centuries. The Sultanate of Oman and
India have social, political and
economic relations and both the countries are still
commercial centre for the movement of goods,
services and joint projects. Both the countries are
witnessing big growth in bilateral trade. The
volume of trade between the two countries
during the past 9 months since 2013 has reached
to 2.4 billion Omani Riyal (six billion US Dollar)
from 1.5 billion Omani Riyal.
Both the countries have enough
potential which can be searched and
utilized specially India has advanced
technology and experience which
Sultanate of Oman needs.
MESSAGE
Oman's direct investment in India has risen
dramatically from 24 million US dollars in 2005 to
nearly $ 340 million US dollars in 2012. On the
other hand Indian investment in the Sultanate
rose to about $ 652 million US dollars and still the
opportunity exists to increase these investments.
As per latest estimation the volume of trade
between the two countries has reached to 5.77
billion US Dollar and the growth rate is 25 %. There
are nearly 1500 Joint Indian — Oman companies
in the Sultanate of Oman and the most important
is Oman India Fertilizer Company. The number
Omani Tourist in India has rose to 40 %.
Indian companies have tried to get many
opportunities that exist in the Omani market,
which is growing rapidly and continuously and
Indian investors managed to win large number of
contracts in the Sultanate beside previous
contracts particularly in the field of oil at state
level and Indian investors have entered in joint We would also like to thank lndo-Arab Chamber
ventures of the leading companies which are of Commerce & Industries for publishing this
special issue on the 44th National Day of the
making Oman as their base and headquarter.
Sultanate of Oman and welcome more investors
As per latest estimation there are many joint to the Sultanate of Oman.
Omani — Indian projects and 140 Indian
companies are working at present in Oman as With best regard
these companies have got as per last year
estimation only contracts to the value of 1.25
Mubarak Hamed Al- Hinai
billion US Dollar.
During the past many years Indian community in Consul General
The Council of Oman consists of The Central Bank of Oman (CBO):
the Consultation Council and the The Central Bank of Oman is responsible for
State Council.
maintaining the stability of the national currency
The Consultation members are the Omani Rial (RO) and ensuring monetary and
elected by the Omani citizens, and financial stability in a deregulated and open
the State Council members are financial system. The capital base of the CBO which
was one million Omani Rials at the commencement
appointed by HM The Sultan.
of
operations in 1975.
THE OMANI FLAG
mergers and as a result commercial banks
which are locally incorporated and eight
are branches of foreign banks.As at the end
of 2005, there were also three specialised
banks in operation,The Oman Housing
Bank (OHB), The Oman Development Bank
(ODB).
Manpower in the banking sector
The banking sector is a model of successful
Omanisation. The College of Banking and
Financial Studies plays a vital role in
preparing nationals for banking careers.
The specialist banks
The Specialist banks were set up to support
national development efforts in specific
fields such as housing, industry, agriculture
and fisheries. Currently there are three
specialist banks. Two - the Oman Housing
Bank and the Oman Development Bank are government banks, while the third - the
Alliance Housing Bank - is privately owned.
The three banks operate through number
of branches in various parts of the country.
The Oman Housing Bank (OHB)
The Oman Housing Bank (OHB) provides
housing loans for nationals to enable them
to purchase, build or complete their
homes. Its capital has been increased to
RO30 million to enable it to expand the
scope of its operations and obtain loans for
a larger number of applicants. The OHB
charges a limited service fee for subsidised
loans in response to directives issued by
Sultan Qaboos. In this way the financial
burden on loan applicants is minimised.
The bank also grants non-subsidised loans
with additional facilities to other
applicants. Most of its loans are subsidised
as part of the government’s policy of
supporting those on limited incomes.
The Omani flag was approved by The Omani banking system has experienced several The Oman Development Bank (ODB)
The Oman Development Bank (ODB) was
established in 1997 as an Omani public
joint-stock company in a merger between
the Development Bank of Oman and the
Oman Bank for Agriculture and Fisheries. It
is now a closed joint stock company,
following the issue of Royal Decree No.
18/2006 issued on 11th March 2006. The
ODB operates on economic principles
while maintaining a proper social
perspective by supporting small projects.
Projects supported by loans in excess are
financed by the Ministry of Commerce and
Industry or one of the other financial
institutions. The ODB has been granted
exemption from all taxes and the
government subsidises the interest
payable on the soft loans it grants to fund
private sector projects. The bank also
provides other loans on a medium or long
term basis to help fund projects, as well as
technical assistance and advisory services
to Omani companies. In addition, it acts as
an export credit guarantee agent and
distributes sums from the Fisheries
Research Fund.
THE OIL SECTORS:
Petroleum Development Oman (PDO) - is
the foremost exploration and production
company in the Sultanate. It accounts for
more than 70% of the country's crude-oil
production and nearly all of its natural-gas
supply. The Company is owned by the
Government of Oman (which has a 60%
interest), Royal Dutch Shell (which has a
34% interest), Total (which has a 4%
interest) and Partex (which has a 2%
interest). The first economic find of oil was
made in 1962, and the first consignment of
oil was exported in 1967.
objective of diversifying the economy away from its Consumer Protection Law and
the Law on the Protection of
current dependency on oil.
Intellectual Property. Alongside
TRADE
these measures, the country has
The Omanis have been traders since ancient times. also upgraded its ports and
Their ships and caravans carried Omani goods - established free trade zones in al
including frankincense, dates and limes - across the Mazyounah and Salalah.
seas and over the old frankincense and silk routes,
The Oman Refineries and Petrochemicals promoting ties and cultural exchanges with other Omani goods are exported to the
markets to world countries.
Company LLC (ORPC) is a limited liability peoples.
Government authorities and
Publised by Mrs. Sunanda Rajendran, Executive Director for Indo-Arab Chamber of Commerce & Industries, 81/82, Mittal Court “C” Wing, 8th Floor, Nariman Point,
Mumbai - 400 021. Tel.: 91-22-40606162 / 22821774 ?
Fax: 91-22-22821279 ?
Email: [email protected] ?
Website : www.iacci.org
Indo-Arab Chamber of Commerce & Industries | 2
Oman
the wilayats of Duqm and Sur for use in the
Sultanate’s cement industry; and a study
on the construction of a new minerals
laboratory in Ghala in the Governorate of
Muscat.
AGRICULTURE:
departments give priority to Omani
products when making purchases and
Omani goods are actively promoted in the
local market through seminars and
exhibitions.
Broader promotion campaigns are also
held in the regional and world markets,
where Omani products have already begun
to make their mark because of their high
quality specifications.The Ministry of
Commerce and Industry was granted a
certificate by the United Kingdom’s Human
Investment Programme, recognizing it as
an investor in human resources.
INDUSTRY:
Agriculture, livestock and fisheries are
among the oldest and most important
sectors of the Omani economy. They play a
vital part in feeding the population,
providing employment for large numbers
of Omanis and helping to boost the
Oman’s aflaj system is an ancient but
effective method of water management.
Individual falaj, or water channels,
together form the aflaj network, an
interconnected system of water channels
extending from the mountain tops and
wadis to populated areas. Oman’s aflaj are
dug in such a way as to ensure that the
water is carried by the earth’s gravity and
the natural incline of the land over long
distances without using pumps or any
other mechanical means.
The falaj system is thousands of years old.
There are 4,112 aflaj in the Sultanate, 3,017
of which are currently in operation. The
maintenance of these structures is
undertaken by the govermment according
to an annual timetable which adjusts its
priorities according to the structures; many
of them sustain damage as a result of heavy
country’s GDP. The Batinah Region has the rainfall, or are affected by groundwater
most date palms, mango and lime trees, levels or water consumption. Maintenance
while the Governorate of Dhofar has the work was carried out on 195 aflaj; this
most coconut palms. Agricultural advice
and guidance programmes have been
adopted to promote the use of high-quality
fertilisers and seeds, modern irrigation
systems have been introduced on the
farms and barriers have been built to
provide protection against wadi floods.
The industrial sector is a cornerstone of the
Sultanate’s long-term (1996-2020)
development strategy. Industry is not only
one of the main sectors involved in
diversifying the sources of national income
and reducing dependence on oil; it is also
capable of helping to meet Oman’s social
development needs and generate greater
added value for national resources by FISHERIES:
processing them into manufactured With a coastline over 1,700 kilometres
products.
long, Oman is one of the main fishEighth Five-Year Development Plan (2011- producing countries in the region and the
fisheries sector is among its most
2015)
promising sectors. Fishing is one of the
creates the conditions for an attractive
country’s oldest occupations. Fish farming
investment climate. Under its strategy for
is now a growing industry and a fish farming
the industrial sector the government also
centre is currently being set up, while the
aims to develop the information
quality of the catches is being improved,
technology (IT) and telecommunications
following the creation of the Fisheries
industries. The IT infrastructure is already
Quality Control Centre. Marketing
in place; The Knowledge Oasis Muscat
operations have been streamlined across
(KOM) IT complex has been set up and
the country and exports are now better
expanded, and Omani companies are
regulated, particularly with regard to
developing their technological potential .
certain types of rare, high value fish.
An Information Technology Authority (ITA)
Fisheries training centres have been
established in 2006 (under Royal Decree
established in al Khabourah and Salalah,
No. 52/2006) will promote infrastructure
data and statistics on the fishing industry
projects for Oman’s digital advancement
have been upgraded and new fishing
and oversee implementation of IT projects
harbours have been built and equipped
in every department of the state’s
with modern facilities; today there are
administrative apparatus. The Rusayl
fishing harbours along the Omani coast.
Industrial Estate in the Governorate of
Muscat - the Sultanate’s first Industrial The Seventh Five-year Development Plan
Estate - is home to a large number of (2011-2015) is committed to developing
factories as well as Knowledge Oasis and maintaining the Sultanate’s aquatic
resources, ensuring that the fishing
Muscat (KOM).
grounds and coastal areas are properly
There is also an industrial estate in Sohar managed, regulated and monitored. The
where the Sultanate’s heavy industries are
Indian Ocean Rim Association for Regional
based - as well as other estates in Sur,
Cooperation (IORARC)’s Fisheries Support
Salalah, Nizwa and Buraimi. Natural gas is
Unit is based in Oman. The unit promotes
transported to the industrial estates in
cooperation between member states in the
Sohar and Salalah, helping to promote
management of this vital - and renewable –
expansion of those industries that depend
resource.
on natural gas; the government grants
these industries tax exemptions, as an LIVESTOCK:
incentive to encourage their expansion and Following the completion of the camel
development. The Sultan’s Cup is awarded counting and numbering project in the
annually to the top five Omani factories. Governorate of Dhofar,a national strategy
This event is designed to encourage Omani has now been introduced to reduce camel
factories to keep abreast of the latest numbers, in order to restore the balance
technology, comply with quality control between the region’s camels and the
specifications and increase the percentage natural pastures and increase the amount
of Omanis in their workforce.
of water available by reducing the size of
the areas used for the production of animal
fodder. Phase One of a plan to transfer the
The Sultanate’s mineral resources include
fodder farms to al Najd began . The town,
chromite, dolomite, zinc, limestone,
which will be amply supplied with water
gypsum, silica, copper, gold, cobalt and
wells, roads and services.
iron, to name but a few. Several industries
have grown up around them as part of the WATER RESOURCES:
national development process which, in Oman is in the world’s arid belt and
turn, have boosted the minerals sector’s depends on groundwater and its limited
contribution to the nation’s GDP as well as rainfall . The demand for water continues
providing jobs for Omanis.
to rise. A national water resources
MINERAL RESOURCES:
involved repairs to the channels
themselves, the sinking of new auxiliary
wells , or the exvavation of new tributaries
or basins to increase the water levels in the
channels. The water of each falaj is
allocated on an equitable basis to all users,
in accordance with certain fixed and
recognized rules, passed down through the
generations. In July 2006, the International
Heritage Committee selected five Omani
aflaj to be included
under UNESCO’s World Heritage List. The
aflaj are: Dareez at Nizwa, Khatmin at Birkat
al Mauz, Malki at Izki, Maisir at Rustaq and
Jaylah in the Eastern Hajar.
Wells are a vital source of water. The Wells
Inventory project provided a
comprehensive picture of the wells, their
locations, the well pumps, the quality of
the water and the uses of each well. There
are 127,000 wells in the Sultanate
distributed over 128 catchment areas. New
wells are subject to conditions of the Law
on the Conservation of Water Resources,
Royal Decree No. 29/2000. Licences to drill
new wells or deepen or replace existing
wells are issued by the Ministry of Regional
Municipalities, Environment and Water
Resources.Current projects include the
drilling of 56 public drinking water wells in
various parts of the country.
Dams
Play an important role in the development
of water resources. There are three types
of dams. The 1st type is the groundwater
recharge dam ; the 2nd is the small surface
storage dam , while 3rd is the flood
protection dam.
Among these methods are the
implementation of projects for rainwater
harvesting through the establishment of
various types of dams that have proved
effective in the development of water
resources in the areas benefiting from it. In
this regard, the Ministry of Regional
Municipalities and Water Resources
accorded great significance to establishing
dams. 32 groundwater recharge dams and
67 surface storage dams have been
established in various governorates and
regions in the Sultanate, in addition to 11
groundwater recharge dams and 22
surface storage dams are still under
construction.
conservation plan has been drawn up to
further rationalise and improve water
1) Chalcedony
consumption practices and explore for new
2) Massive chalcopyrite
groundwater reserves. The Sultanate now
3) Marblized calacite
has a complete, up-to-date and properly
4) Albite feldspar
documented database covering all the
5) Specular hematite
country’s available and potential water
6) Pyrite crystals
resources, together with details of their
Copper has been mined in Oman for status and conditions. Studies on new ways
thousands of years. The mineral sector’s of rationalising water consumption are
Groundwater Resources
operations include mining and quarrying. ongoing.
Several projects have recently been
The Ministry of Regional Municipalities,
completed including: an economic
Environment and Water Resources has
feasibility study on silica ore in Wadi Buwa
conducted several groundwater
and Abutan in the Wusta Region, which
exploration projects threoughout the
confirmed that there were exploitable
Sultanate where exploration wells were
reserves of around 28 million tonnes at the
drilled to study the availability and
two sites; a feasibility study on the
characteristics of groundwater resources in
production of magnesium metal from
terms of its quantity and quality.Several
dolomite ore; a draft study on processing
schemes were carried out in the South
limestone derivatives; a project to produce
Batinah, the Dhahirah, Dhofar, the
Water Resources Management
geological maps of the Sharqiyah Region
Sharqiyah, Dakhiliyah and in the desert
(Ibra); economic feasibility studies on the The approach here is the emphasis on area in the Wusta Region to study and
exploitation of gold and copper ores in the making judicious use of available water monitor the water situation . All major
Ghaizeen area; a study on raw materials in resources and reducing waste.
operations have now been completed on
The management plan includes:
the two main groundwater projects - the
Reduction of water loss to the sea or desert Hawdh al Masarrat Water Supply Scheme
and on the Sharqiyah Sands aquifers.
Providing potable water in communities
Developing and improving aflaj systems
Pipelines have been laid and water is
currently being supplied to more than
Intensification of studies
10,000 houses. Water suitable for
Changing land use in some regions
agricultural use has been discovered in the
Increasing recovery rates of water loss
Nejd in the Dhofar, while potable
Implementation of awareness programs
groundwater stocks have been found in
PICTURE ILLUSTRATE :
IACCI
IACCI
IACCI
IACCI
export or sell its products; promote 1 Lease of industrial plots Square metre/
productions or services other than those per annum 250 Baizas for the first 5 years,
Renewable energy
produced by the company or communicate thereafter, 500 Baizas.
Oman enjoys sunny weather throughout directly with the consumers.
2 Electricity KW/hour with bank capacitor
the year in addition to monsoon winds,
5. How many Industrial Estates, Free 12 Baizas. (August - Mar)
providing conditions that can be utilised in
Zones, Special Economic Zones are in 24 Baizas (April – May)
energy generation projects. Both solar and
Oman?
3 Water Gallon 3 Baizas
wind energy are clean, renewable sources
that can be used in an increasing number of There are six industrial estates in Oman 4 Gas M3 20.5 Baizas
projects, particularly in the more remote managed by the Public Establishment for 10. What is the minimum wage in Oman?
and inaccessible areas. Solar energy has Industrial Estates. These industrial estates
The minimum wages payable to Omanis is
been used to power parking meters in the are located in key locations of Oman such
RO 140 (about US $ 360) per month
capital area, as well as in large projects such as Rusayl, Salalah, Sohar, Sur, Nizwa and
including house and transport allowances.
as a water desalination plant, and to Buraimi. For more information on
Apart from that as per the Social Security
generate electricity for lighting projects in industrial estates please refer to
Law private sector employer must make
some remote areas of the North Batinah www.peie.om . Apart from these industrial
monthly contributions to the Public
and power radio and television booster estates there are three free zones and one
Authority for Social Insurance at the rate of
stations in several regions, including Special Economic Zone in Oman. These are
9.5 % of the monthly wage
remote mountain areas. Wind energy is Al Mazunah Free Zone strategically located
used to power the water pump in the Hailat in the south west of Oman on the Oman – 11. Does Oman have any Free Trade
al Rakah desalination plant.
Yemen border. For more information agreements with other countries?
please visitwww.peie.om.
Oman seeks integration into the global
Wadi Rawnab in the Wusta Region.
AFLAJ, WELLS AND DAMS
INVESTMENT IN
OMAN (FAQ)
Knowledge Oasis Muscat is a public private sector led Technology Park situated
in a 68 hectare site situated at 32 km from
1. Can a foreigner own majority shares in Muscat. For more information please visit
an Omani company?
www.kom.om.
The Sultanate encourages foreign capital Salalah Free Zone is located in a globally
that will enhance the overall development strategic location in Salalah with access to
of the country. It should supplement local Europe, Asia, Africa and Australia. Besides
investment in utilizing its untapped access to world's fastest growing markets
resources, facilitate transfer of technology, the zone also offers a whole host of other
know - how and managerial skills, and business advantages. For more information
getting benefit from the worldwide please visit www.sfzco.com.
connections of multinational corporation
Special Economic Zone is to be created in
Port of Sohar. The zone will encompass a
serious centre of manufacturing with low
investment and highest possible added
value. For more information
visithttp://www.portofsohar.com
economy through multilateral, regional
and bilateral economic cooperation. In this
context Oman joined the World Trade
Organization in the year 2000. The
accession to WTO brings the integration of
Oman into the world economy and with its
benefits and the challenges.
3. Are Foreigners allowed to own land for 2 m i l l i o n ( U S $ 5 . 2 M i l l i o n )
The other forms of business entities are
commercial and residential purposes?
general partnerships, formed by two or
Under Land Law companies and foreign more individuals or entities, limited
nationals may own land in special partnerships, which is formed by one or
designated tourism complexes. Other GCC m o re ge n e ra l p a r t n e rs a n d s o l e
nationals, companies fully owned by proprietorships
Omanis or General Joint Stock Companies
with majority Omani share holdings are 7. Is there any restriction on repatriation?
allowed to own land any where under Oman is a free economy and does not
certain conditions. Royal Decree 12/ 2006 restrict the remittance abroad of equity,
allows non Omanis to own real estate in debt, capital, interest, dividends, profits
Oman within specified integrated tourism and personal savings
complexes.
8. What are the tax rates in Oman?
Commercial banks are the primary source
of short, medium and long term credit.
There is no restriction to obtain credit from
aboard. Oman Development bank provides
finance to corporate small and medium size
companies and small projects. The
maximum lending is RO One million.
Investors may also obtain financing from
Gulf Investment Corporation, an institution
established by GCC Countires. Their head
office is in Kuwait and they invest in equity
and provide loans to new ventures
Regionally, Oman is a member of the six
gulf cooperation council which started with
an FTA in 1982, moved to the common
market in 2008. Oman is also an active
member of the greater Arab free trade
agreement. As of 2005 these Arab
countries with a population of over 270
million have in place a free trade
agreement. With GCC Oman is now
negotiating with various countries for
similar free trade agreements. Also the
European Union and GCC FTA are now in
6. What are the different structures of the final stages of negotiations.
business entities and their main features?
On the bilateral front, has already signed an
In Oman the following types of entities can FTA with USA.
in opening new markets for Oman be formed
12. What are the major Sea ports and
products.
airports?
Foreign ownership is allowed upto 100%
Oman has commercial sea ports in Muscat,
with the approval of the Ministrial Cabinet,
Sohar and Salalah. There are six civil
however, in accordance with the
airports of which two are international.
commitment provided to the World Trade
These sea and airports are well connected
Organization, approvals are granted for
to other parts of the world
foreign ownership up to 70 % in most of the
13. Does Oman have a One Stop Shop?
sectors on automatic basis. As per the
Foreign Capital Investment Law ministry
In the Ministry of Commerce & Industry a
grant license to applicants if the paid up A joint stock company is formed by three or "One-Stop-Shop" for assisting the
capital of the company is at least RO more individual or entities, whose liability
is limited to the nominal value of their
150,000 (US $ 390,000).
shares in the company's capital. If
2. What is the investment incentives
minimum 40 % of a company's shares are
offered in Oman?
issued for public subscription it is
Investment incentives include provision of considered as a general joint stock
plots for nominal lease charges in specified company (SAOG). The minimum capital
areas and reduced utility charges and required in RO 2 million ( US $ 5.2 million) ;
exemption from taxes. Tax exemptions Otherwise it is considered as closed joint
from corporate tax and customs duties are
domestic and foreign investors in obtaining
granted to entities engaged in
all required clearances quickly and from
manufacturing, mining, agriculture,
one window has been established. Shortly
fishing, fish farming, fish processing,
all ministry related services will be made
aquaculture, animal breeding, tourism,
available through web as a step towards
export of manufactured and processed
the achievement of total e-governance in
products and public utilities. The
the country. For more information visit
exemptions are granted for five year from
http://www.mocioman.gov.om/arabic/eg
the date of production or services first
ov.shtml
rendered and a five year extension may
14. What are the criteria for getting
also be granted subject to certain
stock company (SAOC) and the minimum residential and investors' visa?
conditions.
capital required is RO 500,000 ( US $ 1.3
Investor Visa is granted to a foreigner who
million) Limited Liability Company (LLC) is a
intends to invest his money in Oman and
private company formed by minimum of
pursuant to a certification in this respect
two and a maximum of 40 natural or legal
from the authority concerned. - This visa
persons, whose liability is the nominal
can be used within six months from the
value of their shares in the company's
date of its issuance. - It is a multiple-entry
capital. . The minimum capital for an LLC
visa valid for staying in the country for two
wholly owned by Omani national is RO
years from the date it is inserted in the
20,000 (US $ 52,000) and RO 150,000 (US $
passport. This period is renewable. For
Foreign airlines and shipping companies 390,000) with foreign participation. m o r e d e t a i l p l e a s e r e f e r
are exempt from taxation based on A Holding company is a joint stock company tohttp://www.rop.gov.om/english/dg_pas
reciprocal treatment .Universities, or LLC that holds at least 51% of the shares sport_visa_investor.asp
colleges, higher education institutes, of another company and have financial and
private sector schools, training institutes; administrative control. The capital of the 15. What are the sources of finance for the
holding company shall not be less than RO investors?
private hospitals are exempt from tax .
4. Is a foreign company allowed to open a Companies are taxed at a single rate of 12 %
branch and representative office in Oman? of the taxable income exceeding RO 30,000
Companies conducting business through irrespective of the percentage of foreign
special contracts or agreements with the ownership. Branches of foreign companies
government are allowed to establish a are taxed at a single rate according to the
branch in Oman. In practice contracts entire amount of branch's taxable income.
awarded by the government, Petroleum The tax rate varies from 5% to 30 %
Development Oman LLC (PDO) and Oman Foreign companies that do not have a
LNG LLC (LNG) enable foreign companies to permanent establishment in Oman are
establish branches in Oman by registering
subject to a flat tax of 10% of gross income on
with the Ministry of commerce & Industry.
the following type of income: royalties,
Foreign companies engaged in trade, management fees, rent for equipment,
industry and service sectors may open transfer of technical know-how and R & D fees
commercial representative offices in
9.What are the Rates of Services in the
Oman. However they may not import,
industrial estates?
IACCI
IACCI
IACCI
16. How Oman is ranked as per Economic
Freedom Index?
Economic freedom is measured by the
extent to which one can pursue economic
activity without government interference.
According to the World Economic Freedom
Index 2007 published by Fraser institute
Oman is ranked 18th position among 141
countries. http://www.freetheworld.com
17. What is the Omanization percentage
for manufacturing sector?
The Omanization percentage in the
manufacturing sector is 35 %.
Source: www.peie.om/estates-rusay-lrate.shtml
IACCI
IACCI
Indo-Arab Chamber of Commerce & Industries | 3
Oman
Strategic Location
Oman is distinct for its strategic location, by
virtue of which it controls the most ancient
and important marine trade routes in the
world, the route between the Arabian Gulf
•
and the Indian Ocean.
Geographical location
Oman’s sea-coast stretches for 1700
kilometres and the Sultanate is considered
the gateway to the Arabian Gulf. Its location
also makes Oman, the meeting place of the
Asian and African continents.
Marketing location
The GCC states offer a large consumer
market catering to around 28 million
people with a high purchasing power.
Besides, Oman is closer to the Iran and
Yemen markets which cater to around 82
million consumers. The Sultanate also lies
between the markets of the Indian subcontinent and the East African coast. It is
also strategically located near the
landlocked Central Asian Republics.
Political Stability
Security and stability are two basic
elements of development and Oman is
characterised with both. Oman has very
good relations with its neighbours as well
as other countries of the world.
Appropriate investment policies
The Sultanate had realized the need to
introduce radical and effective reforms on
the general investment climate to attract
both local and foreign investments. New
trade and investment laws were framed
providing better degrees of vitality and
flexibility to contain the international
developments so as to serve the interests
of the Omani economy regionally and
internationally.
The Omani government supports the
private sector to provide appropriate
climate to launch the private sector
enterprises and to stimulate trade and
investment activities, through the
following steps:
• Providing infrastructures ( industrial
estates, ports development, etc.)
• Framing appropriate and flexible trade
and investment legislation.
• Establishing good regional and
international economic relations and
opening up to the international
economy.
• Creating active institutions to promote
investment and to develop exports.
• Laying down privatisation programmes
WHY INVEST IN OMAN?
to increase investment opportunities.
Laying down clear and specific
strategies and priorities to various
manufacturing sectors.
Incentives and loans regulations.
Provision of trade related information
Developing and updating the financial
sector.
creating opportunities for investing in
securities. MSM deals in both corporate
and Government securities, such as
treasury bills and bonds.
up, as far as possible, to provide the
required service, in order to have
competition among them and whereby the
Government can evaluate and compare the
performance and efficiency of each of
•
Capital Market Authority (CMA), a
them.
•
Government authority, acts as a regulator
•
and is responsible for organizing and • F o r e i g n p a r t i c i p a t i o n i n t h e
overseeing the issue and trading of privatization projects shall be encouraged
securities in Oman. Muscat Depository and in order to benefit from the foreign capital
Transport
Securities Registration Company, is the sole and technical and managerial expertise.
Construction of infrastructure facilities provider of services relating to registration However, this shall be pursuant to the
began based on the objectives of the first and transfer of ownership of securities and provisions of the Foreign Capital
Investment Law.
Five-Year-Plan (1976-1980) which safekeeping of securities.
coincided with the oil boom period. This
Agreements on Investment Promotion
Privatization Policy
prompted the growth of non-oil sectors.
and Protection
Oman now has 8,477 kilometres of paved After having established most of the
roads
essential development requirement and In order to boost investment cooperation
provided the favourable climate for between Oman and other countries of the
There is a modern international airport
investment, the Omani Government saw world, the Sultanate had signed more than
that handles around 38,184 inbound and
that the private sector should be 35 agreements on promotion and
outbound flights and around 2.7 million
encouraged to participate effectively in the protection of joint investments, with 25
passengers per annum.
development. It, therefore, adopted a countries such as Jordan, Yemen, USA,
Furthermore, Oman’s modern seaports number of policies and measures to Tunisia, etc. Oman has also signed
(Mina Sultan Qaboos, Muscat and Salalah promote the private sector. One of such agreements on avoiding double taxations
Port) and other utilities compliment the policies was the privatization policy that with France, India UK, Pakistan, Italy, Egypt,
industrial sector as they act as the export got commenced in the early eighties. The Lebanon, Algeria, Tunisia, Mauritius,
points for the national products. The Government uses the following methods Russia, China and Yemen till the end of
August 2002.
expansion of the Salaam port, which is for privatizing its assets:
close to major international container
With its accession to WTO, Oman now get
1. Direct sale of government shares and
traffic route between Europe and the Far
the benefits of the developing countries
assets.
East, is aimed at making Oman an
and it can now resort to the WTO rules and
international re-export center. The Sohar 2. Offering the capital increase for regulations to settle commercial disputes
port is also one of the important natural production capacity expansion projects for with other countries.
ports in Oman as its waters are deep and is direct public subscription.
In line with its policy of promoting
not affected by sea conditions.
3. Granting concessions to set up projects investments, Oman had issued the
against investment on BOOT (build, own, Copyright Law in 1996. Earlier the
Telecommunications
Sultanate had promulgated the Law of
operate and transfer) basis.
The Sultanate is served by an efficient,
Trade Marks and Information and
state-of-the art telecommunications Oman’s privatization process is based on Patenting. Oman also has joined the World
system that is continuously being upgraded several policies as set out in the fifth five- Intellectual Property Organization (WIPO)
with new technology. The entire year plan, which include the following:
Economic Resources
transmission network is gradually being
• Privatization forms a part of the
replaced with fiber optic cables, and is
Oil reserve: Oman’s oil reserves are
government’s program aimed achieving •
almost 100% digital. Satellite links allow
sustained development and to raise the estimated to be around 5.75 billion barrels
sending and accessing data rapidly. A full
growth ratios and to distribute the fruits of and its daily oil production is around
range of Internet services is available,
development to all regions and all sections 954,800 barrels or 344 million barrels per
making global information and quick
annum.
of the public.
communication freely accessible to all.
Gas reserve: Oman’s gas reserves are
• Priority in privatization shall be given •
Investment and Financial Institutions to service sectors that operate on a estimated to be around 29.8 trillion cubic
feet and Petroleum Development Oman
In order to promote investment, the Omani commercial basis such as sewage,
(PDO) is processing part of it for the local
Centre for Investment Promotion and electricity, water, communications,
demand.
Export Development (OCIPED) was set up speedways, etc. However, while privatizing
these
services,
the
financial
and
•
Mineral ores: Several natural minerals
which is now in full force. Foreign
commercial representation offices are also administrative capability of the private are available in Oman, which can be
sector to run such activities should be processed locally. These include, among
being considered.
taken into consideration.
other minerals, copper (around 25 million
Muscat Securities Market (MSM) which
tons) and gold (around 1.5 million tons).
•
More
than
one
company
shall
be
set
was set up in 1989 with objective of
a. Free economy and full competitiveness
Oman’s economy is based on the free
economy concept where competition, free
markets and price mechanism concepts
prevail. The market economy remains the
main focus of Oman’s strategy since its
modern renaissance and the state
encourages and supports the private sector
enterprises.
b. Freedom of Money Transfer
There are no exchange controls in Oman.
Capital and income may be repatriated
abroad without any restriction.
Agricultural
In 1970 the Sultanate's economy, which
was virtually a subsistence economy, was
entirely based on agriculture and fisheries.
It was not until the discovery of oil in
commercial quantities in 1964 and its
production in 1967 that the country was
able to embark on its development. Even
so, after the initial construction phase is
completed, an oil industry is not labour
intensive. Over half the total Omani
population is still engaged in the
agricultural and fisheries industry. 787,300
people hold cultivable land, according to
the most recent survey, and the total
number of agricultural workers is around
187,820. A large per centage of the Omani
population live in rural villages. However,
the stimulus to the national economy
derived from the exploitation of oil and gas
has also benefited the development and
modernisation of agri culture, so that the
Ministry of Agriculture and Fisheries was
enabled to achieve nearly 50% selfsufficiency in food production by the end of
last year, with a goal of 100% by the year
2000.
mountains there are considerable areas of
cultivation in the wadi beds dependent on
water supplied by aflaj (plural of falaj),
which are described in detail in the chapter
on Water Resources. Dates are the major
product of the cultivated areas in the
Interior, in addition to other fruits and
vegetables. In years of good rains corn is
grown as well. Altogether, 35,000 hectares
of land are planted with date palms
throughout the Sultanate, and 28,000
hectares with other crops, including 11,000
hectares planted with rotation crops. In the
south, on the coastal plain around Salalah,
coconut palms are grown in place of date
palms, which are not suited to the local
climate. Bananas thrive in quantity on the
coastal plain, with papaya and other fruits.
Cattle fodder is also grown, but there are
plans to transfer fodder cultivation to the
inland side of the coastal range, in view of
increasing pressure on water resources on
the coastal plain.
Agricultural Projects
During the decade 1991 /2000 the Ministry
has the target of increas ing production of
poultry meat, eggs and fresh milk by 100%,
and meat from grazing animals by 48%. The
ultimate aim is total self-sufficiency in all
these products, through expert advice and
subsi dies. In 1992 a livestock research
station was opened in Rumais on the
Batinah Coast, containing a number of
modern research units, includ ing a
laboratory for analysing foodstuffs, fodders
and dairy products. It also has enclosures
for cows, sheep and goats, a mechanical
work shop, a dairy unit, a training unit, a
library and auditorium, as well as
accommodation. Also, in the same year, a
new livestock research sta tion was opened
in Wadi Quriyat with similar facilities and a
veterinary clinic. In Dhofar, there is a
livestock research station which in cludes a
cattle research establishment, a dairy
research unit and an abattoir.
Agricultural Production
Inland on both flanks of the Hajar
Conducive Economic Policies
Possible Investment Areas
Oman's investment climate is distinct and
typical as there are several investment
opportunities in petrochemicals, fertilizers
and manufacturing industries that depend
upon cheap energy. Furthermore, there
are several deposits of exportable minerals
and assembling industries in Oman,
through the Salalah port. Oman's strategic
location, as the gateway of the largest
energy sources in the world, enhances its
marketing dimension. In the field of tourism,
Oman is a promising tourist destination and
a potential place for investments in large
hotels and tourist resorts.
PROMISING INVESTMENT
OPPORTUNITIES IN OMAN
Firstly: Investment Opportunities in
Agriculture and Fisheries Sector:
1. Honeybee Keeping (small
manufacturing unit):
etc., during the summer season. Each unit
will have an area of 1000 square meters
fitted with irrigation systems and computer
controlled cooling equipment. The
expected production from this project is
around 80 tons per year.
Project Cost : USD 505.300/Rate of Internal Return: 31 %
8. Agricultural Marketing Projects Setting
up of marketing establishments for
vegetable and animal products, including
transportation, sorting, storage and
marketing, is one of the major challenges
faced by agriculture development and
6. Youth Fishing Vessels Project:
The concept is based on having a therefore, these activities provide a good
partnership between a number of Omani opportunity for private investors.
young people (the first party) and the Source: Ministry of Agriculture and Fisheries.
commercial fishing sector (the second Secondly : Investment Opportunities in
party) to carry out fishing and related the Industrial Sector:
activities. While the second party will
finance, market and train, the Ministry of 1. Soya Protein Concentrate:
Agriculture and Fisheries will supervise the Production : 2,520 tons of Soya protein
project and participate in training. Oman concentrate plus 4,680 tons of animal
Development Bank will provide soft loans fodder per annum.
Sales : USD 3.85 million
for the project.
Investment Cost: USD 3.4 million
Financial Analysis of the project:
Project Cost : USD 41.600/Rate of Internal Return: 14%
Breakeven Point : 54%
Capital Reimbursement Period: 4 years
and 4 months
2. Animal Fodder Manufacturing:
Project Cost : USD 463.900/Rate of Internal Return: 18 %
Breakeven Point : 72 %
Capital Reimbursement Period: 6 years
and 4 months
3. Dates Processing Plant:
Project Cost : USD 347,300/Rate of Internal Return: 25 %
Breakeven Point : 45 %
Capital Reimbursement Period: 4 years
4. Brown Sugar Manufacturing Unit:
Project Cost : USD 46,540/Rate of Internal Return: 13 %
Breakeven Point : 51 %
Capital Reimbursement Period: 6 years
and 7 months
5. Water Farming Project:
Water farming (without soil) is one of the
latest production technologies used to
grow vegetables in green houses whereby
the production can be doubles and good
quality fruits can be grown. Besides, it is
very cost effective and requires less labour
and manure
A wide range of vegetables can be
commercially grown in this way, such as
tomato, cucumber, lettuce, strawberry,
IACCI
7. Manufacturing and Marketing of
Agriculture Equipment:
The private sector can participate in
manufacturing modern irrigation systems.
If not fully, focus can be made in the
beginning, on manufacturing the spare
parts that are required on a constant basis
for such systems. Besides, it can
manufacture maintenance equipment for
these systems. There is a very good scope
for such projects, particularly if we notice
that rationalized usage of irrigation water is
considered a strategic goal and a key factor
in agricultural development and that
around 85% of the area under cultivation
still require modern irrigation systems.
Green house farming is one of the major
fa c t o rs o f v e g e t a b l e p ro d u c t i o n
development in Oman and as such,
projects for marketing production
accessories can be set up. This can be
either for selling them whereby they will be
available for the farmers readily and at
reasonable rates, or for offering production
services such as setting up of agricultural
mechanisation services or veterinary
services.
IACCI
IACCI
Production: 3000 tons per annum
Investment Cost: USD 5.02 million
15. Plastic Waste Recycling:
Manufacturing plastic sheets, profiles,
6. Aluminium Ladders (step, extension
bases
used for fencing wires, protective
and articulated ladders ):
railing, plant pots, outdoor furniture, etc
Production: 240,000 units per annum.
Production : 2,700 tons per annum
Sales : USD 16.8 million
Investment Cost: USD 4.58 million
Investment Cost: USD 10.66 million
16. Ceramic Electrical Insulators:
Labour Force: 91
Manufacturing 4 types of insulators for
Profitability indicator (IRR): 44 %
various
usages.
7. Re-cycling of Aluminium Alloy Ingots:
Production of aluminium silicon of various Production : 30,000 tons or 8.2 million
degrees by using aluminium scrap as main units per annum
Investment Cost: USD 26.45 million
raw material.
Labour Force:
Production: 6,856 tons per annum
17. Molecular Sieves:
Sales : USD 5.9 million
Manufacturing various types of high
Investment Cost: USd 4.32 million
efficiency sieves for using in natural gas
Labour Force: 24
processing, oil refining, petrochemical
Profitability indicator (IRR): 54 %
industries and air separation.
8. Round AC Ducts:
Production : 5000 tons per annum
Production: 315.000 m2 of ventilation
Investment Cost: USD 46.33 million
and air-conditioning ducts plus 126,000
18. Ferro Chloride:
m2 of accessories per annum.
Manufacturing ferro chloride (40%
Sales : USD 2.64 million
solution) used in drinking water and
Investment Cost: USD 1.71 million
waste water treatment
Labour Force: 27
Production : 6000 tons per annum
Profitability indicator (IRR): 33%
9. Teflon Lines/Sleeved Industrial Valves: Investment Cost: USD 3.9 million
19. Leaf Springs:
Production: .16,200 units per annum
Manufacturing of various types of multi
Sales : USD 3.05 million
layer leaf springs for automobiles.
Investment Cost: US$ 1.63 million
Production : 3000 tons per annum
Labour Force: 36
Investment Cost: USD 5.16 million
Profitability indicator (IRR): 30 %
Labour Force: 33
10. Glass Reinforced Gypsum Panels:
Source: Project from 1-10: Gulf Organisation for
Production: 734,400 m2 ( 25,700 tons)
Industrial consulting (GOIC)
per annum
Projects from 11-19: The Omani Centre
Sales : USD 4.96 million
for Investment Promotion and
Investment Cost: USD 4.72 million
Export Development (OCIPED)
Labour Force: 22
Thirdly: Investment Opportunities in
Profitability indicator (IRR): 22%
Tourism Sector:
11. PVC and Hydrochloric Acid (HCl):
1. A Company for Hotel Management:
Production : 100,000 tons of PVC and
The functions of this company will be to
58,000 tons of HCl per annum
construct and manage hotels and tourist
Investment Cost: USD 141,69 million
resorts, provide management
12. Tyre Recycling:
consultations, manage real estates,
Manufacturing rubber and steel crumbs
provide internal design services for
from used truck and bus tyres.
Production : 550 tons of Rubber granules hotels, develop tourist hotels in strategic
areas, etc.
+ 3500 tons of steel per annum
Capital required: Between $10.4 and
Investment Cost: USD 6.57 million
$18.2 million
13. Acrylic Bathroom Products (Tubs and
2. Al Sawadi Resort ( Batinah Region):
Basins):
Location:
Al Sawadi Beach, Wilayat Barka
Production : 72,000 tons per annum
Investment Cost: USD 279.5 million
Investment Cost: USD 4.19 million
(approx)
14. PVC Insulation Panels:
Project Description: Construction of 5
3-15 mm thick PVC insulation panels and
hotels of 5, 4 and 3 stars, a swimming
1-2- cm thick solid panels
BUSINESS OPPORTUNITIES
Labour Force: 25
Profitability indicator (IRR): 27%
2. Speciality Bio fertilizers:
Production : 2,060 tons per year
Sales : USD 4.25 million
Investment Cost: USD 2.08 million
Labour Force: 51
Profitability indicator (IRR): 28%
3. Narrow cold rolling Plant:
Production : 35,000 tons per year
Sales : USD 13.67 million
Investment Cost: USD 13.11 million
Labour Force: 77
Profitability indicator (IRR): 16%
4. Seafood Can:
Production : 39 million cans per year
Sales : USD 2.56 million
Investment Cost: USD 1.22 million
Labour Force: 65
Profitability indicator (IRR): 27 %
5. Ultra Thin Aluminium Foil:
Production : 5000 tons per year
Sales : USD 16.49 million
Investment Cost: USD 18.87 million
Labour Force: 50
Profitability indicator (IRR): 19 %
IACCI
IACCI
IACCI
IACCI
pool, a 5-star health club, golf course,
shopping complexes and residential villas.
3. Tourist Resort in Massirah Island:
Location: Massirah Island
Project Description: construction of a
tourist resort comprising all necessary
utilities such as a rest house, swimming
pool. Water sports club, restaurants and
coffee shops.
Investment Cost: Between 130 and 390
million US Dollars.
4. Hotel in Khasab:
Location: Khasab, Governorate of
Musandam
Cost: USD 9.1 million (USD 7.8m founders
and the rest through soft loans
$1300.000.
5. Tourist Resort in the Wilayat of Diba:
Location: Diba, Governorate of
Musandam
Cost: Between USD 3.12 and 7 million
Manpower: 25-75 full time employees
6. Tourist Village in Mirbat:
Location: Beach near Mirbat in the
southern region.
Project execution status: The execution
contract of the first phase has been
already awarded to the Modern
Contracting Co. The project has received a
royal subsidy of USD 2.6 million and a soft
loan of USD 10.4 million from the Ministry
of Finance. The project still welcomes
foreign participation.
7. Eco-Tourism Resort in Ras al Jinz (4
star):
Location: Sur in the Sharqiya Region
Number of rooms: 84
Total cost: USD 11.76 million
IRR: 15%
Capital Reimbursement Period: 7 years 4
months
8. Tourist Resort in Salalah ( 4-5 stars):
Location: Salalah, Dhofar Governorate
Number of rooms: 250
Total cost: USD 45 million
IRR: 22%
Capital Reimbursement Period: 5 years 5
months
9. Tourist Resort in Musandam:
Location: Khasab, Musandam
Governorate
Number of rooms: 150
Total cost: USD 43.5 million
IRR: 24%
Capital Reimbursement Period: 4 years 1
month
Source: Ministry of National Economy.
IACCI
IACCI
Indo-Arab Chamber of Commerce & Industries | 4
Oman
IMPORTANT CONTACTS & LINK
Email: [email protected]
CONSULATE GENERAL OF THE
SULTANATE OF OMAN IN MUMBAI
112, Maker Chamber IV, Nariman Point,
Mumbai – 400 021. Phone: 22876037
Tel.: 22047998/22876038 / Fax: 22042523
Email: [email protected]
EMBASSY OF INDIA IN MUSCAT, OMAN
New Chancery Complex, Jami‘at Al-Dowal
Al-Arabiya Street, P.O. Box 1727, P.C. 112,
Al Khuwair, Diplomatic Area. Ruwi,
Sultanate of Oman.
Tel: +968 - 2468 4500 (Office General)
Fax: +968 - 2469 8291 (Office Gen)
Email: [email protected]
OMAN INVESTMENT CORPORATION
Po Box 299, P.c.134, Jawharat Al-shatti,
Sultanate Of Oman
Tel:(968) 241 152 00
E-mail:[email protected]
Web: www.omaninvcorp.com
EMBASSY OF THE SULTANATE OF OMAN
IN INDIA
Ep-10, N-11, Chandragupta Marg
Chanakyapuri, New Delhi – 110 021.
Phone: 26885622/3, Fax: 26885621,
State Council (Majlis A' Dawla)
Consultation Council (Majlis A'Shura)
Royal Oman Police
Diwan of Royal Court
Diwan of Royal Court Affairs
=
=
=
=
=
MINISTRIES
Agriculture
Awqaf and Religious Affairs
Civil Service
Commerce and Industry
Education
Finance
(ditto) State General Reserve Fund
Fisheries Wealth
Foreign Affairs
Health
Heritage and Culture
Higher Education
Housing, Electricity & Water
Information
Interior
Justice
Legal Affairs
Manpower
National Economy
Info Technology Technical Secretariat
Oil and Gas
Regional Municipalities and Water Resources
Social Development
Sports Affairs
Tourism
Transport and Communications
Dhofar Municipality
Directorate General of Civil Status
Divan of Royal Court
General Department of Traffic
Majlis A'Shura
OTHER ORGANIZATIONS
Arabian Oryx
Asian Beach Games
Authority for Electricity Regulation, Oman
Birds of Oman
Blue City
Capital Market Authority
Central Bank of Oman
Civil Status Directorate-General
E-Government Services Portal
Environment Society of Oman
GCC Census 2010 website
Geological Society of Oman
HM The Sultan's profile
Historical Association of Oman
Information Technology Authority
Intillaqah
Knowledge Oasis Muscat (IT Park)
Library of Public Knowledge
Meteorological Dept (Muscat Int. Airport)
Middle East Desalination Research Centre
Muscat Hills Golf & Country Club
Muscat International Book Fair
Muscat Municipality
Muscat Securities Market
National Hospitality Institute
National Organisation for Scouts and Guides
Oman Academic Accreditation Authority
Oman Air
Oman Centre for Investment Promotion and
Exports Development
Oman Centre for Traditional Music
Oman Chamber of Commerce and Industry
Oman Charitable Organisation
Omani Cultural Attache UK
Oman Daily Observer newspaper
Oman Development Bank
Oman Gas Company
Oman LNG
Oman National Transport Co
Oman News Agency
Oman Oil and Gas Directory
Oman Post
Oman Radio FM
Oman Refineries and Petrochemicals Co llc
Oman Sail (Extreme 40 & Trimaran)
Oman Society for Fine Arts
Oman Society for Petroleum Services
Oman Television
Oman Telecommunications Company
Oman Wastewater Services Co SAOC
Oman's UNESCO World Heritage Sites
Outward Bound Oman-Tahaddi
Petroleum Development Oman
Port Services Corp.SAOG/Port Sultan Qaboos
Public Authority for Social Insurance
Public Establishment for Industrial Estates
PEIE (Omani goods)
Qalhat LNG
Salalah Port Services
Sharakah Fund for Development of Youth Pr
Sohar Port
State Audit Institution
Sultan Qaboos University
Telecomms Regulatory Authority
Tender Board
Times of Oman
The Wave
Whale and Dolphin Research
The Week newspaper
IACCI
www.statecouncil.om
www.shura.om
www.rop.gov.om & www.ropoman.net
www.diwan.gov.om
www.rca.gov.om
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
www.maf.gov.om
www.maraoman.net
www.mocs.gov.om
www.mocioman.gov.om
www.moe.gov.om
www.mof.gov.om
www.sgrf.gov.om
www.mofw.gov.om
www.mofa.gov.om
www.moh.gov.om
www.mhc.gov.om
www.mohe.gov.om
www.mhew.gov.om
www.omanet.om
www.imo.gov.om
www.moj.gov.om
www.mola.gov.om
www.manpower.gov.om
www.moneoman.gov.om
www.ittf.gov.om
www.mog.gov.om
www.mrmwr.gov.om
www.mosd.gov.om
www.sportsoman.com or www.mosa.gov.om
www.omantourism.gov.om
www.comm.gov.om & www.motc.gov.om
www.dm.gov.om
=
www.civilstatus.gov.om
= www.diwan.gov.om
= www.traffic.gov.om
= www.shura.om
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
www.oryxoman.com
www.muscat2010.org.om
www.aer-oman.gov
www.birdsoman.com
www.almadinaazarqa.com
www.omancma.org
www.cbo-oman.org
www.civilstatus.gov.om
www.oman.om
www.eso.org.om
www.omancensus.net
www.gso.org.om
www.oman-qaboos.net
www.hao.org.om
www.ita.gov.om
www.intilaaqah.org
www.kom.om
www.publiclibrary.gov.om
www.met.gov.om
www.medrc.org
www.muscathills.com
www.mctbookfair.gov.om
www.mm.gov.om
www.msm.gov.om
www.nhioman.com
www.omanscouts.gov.om
www.oac.gov.om Oman
www.omanair.aero
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
=
www.ociped.com
www.octm-folk.gov.om
www.chamberoman.com
www.oco.org.om
www.omancao.com
www.omanobserver.om
www.odboman.net
www.oman-gas.com.om
www.omanlng.com
www.ontcoman.com
www.omannews.gov.om
www.Omanoilandgas.com
www.comm.gov.om
www.oman-radio.gov.om
www.orpc.co.om
www.omansail.com
www.omanartsociety.org
www.opaloman.org
www.oman-tv.gov.om
www.omantel.net.om
www.omanwsc.com
www.omanwhs.gov.om
www.outwardboundoman.com
www.pdo.co.om
www.pscoman.com
www.taminat.com
www.peie.om
www.originoman.om
www.qalhatlng.com
www.salalahport.com
www.youthfund.com.om
www.portofsoar.com
www.sai.gov.om
www.squ.edu.om
www.tra.gov.om
www.tenderboard.gov.om
www.timesofoman.com
www.thewavemuscat.com
www.whalecoastoman.com
www.apexstuff.com
IACCI
IACCI
INDO-OMAN BILATERAL TRADE RELATIONS
The Sultanate of Oman is a strategic
partner in the Gulf and an important
interlocutor in the bilateral, AGCC and OIC
contexts. Oman also accords a high priority
to its ties with India. India and Oman are
linked by geography, history and culture.
Both countries enjoy warm and cordial
relations, which can be ascribed to
historical maritime trade linkages, intimacy
of the royal family with India and the
seminal role of the Indian expatriate
community in the building of Oman,
which is acknowledged by the Omani
Government.
affiliation, are functioning in Oman. The
contribution of Indian workers - both in the
skilled class and semi- and un-skilled
classes- to the development of Oman is
highly acknowledged by the Omani
Government. It is estimated that 70% of
the Indians in Oman are blue-collar
workers.
• Outstanding contributions of Indians and
People of Indian Origin in Oman to the
strengthening of our bilateral relations
have been recognized by the Government
of India through Pravasi Bharatiya Samman
Awards. The Pravasi Bharatiya Samman
Awardees from Oman are: Shri Kanaksi
Khimji (2003), Dr. P. Mohamed Ali (2004),
P.N.C. Menon (2009), S.K. Virmani (2010),
and Sh. Kiran Asher (2012).
Bilateral Trade and Economy
urea, LNG (through spot purchase), venture with Oman Oil Company, which is
polypropylene, lubricating oil, dates and the Omani Government’s investment arm
for projects. Under a long term buy back
chromite ore.
agreement, India imports the entire
• Oman Container Lines cargo shipping production of 1.6 MTs of granulated urea
company launched from July 2012 a direct and 0.255 MTs of ammonia from Sur plant.
cargo ‘India Express’ shipping service An agreement for revised price for supply
Some important facts are as follows:
between Nhava Sheva port in India and of gas for the plant was signed during July
• India ranked fourth largest source of Salalah port in Oman.
2012.
imports into Oman after Japan, United
* During the five year period from 2007-08
States and Saudi Arabia in year 2011.
to 2011-12, the India-Oman bilateral trade
• India ranked fourth largest destination,
has increased by 123%.
after South Korea, the UAE and Japan for
Omani non-oil exports during 2011. Non- Different institutional mechanisms like
oil exports of Oman for the period January Joint Commission Meeting (JCM) and Joint
to August 2012 registered a growth of Business Council (JBC) have been set up to
14.6% to reach RO 2179.5 mn. over the oversee economic cooperation between
figure of RO 1902.2 mn. during the India and Oman. The 6th Session of JCM
was held in Muscat on 5th September • Bharat Oman Refineries Limited
corresponding period of previous year.
2010. On the sidelines of the JCM, the 7th (BORL), a company promoted by Bharat
• Alpen Capital Investment Bank’s report of
session of JBC was also organized on 5th Petroleum Corporation Limited (BPCL)
May 2012, places Oman as the second
September 2010 in Muscat. CII is the and Oman Oil Company Limited
biggest GCC investor in India and records
partner institution from India for India-GCC (OOCL), has set up a 6 MMTPA grassroots
that Oman's cumulative FDI has grown
Industrial Forum, the 3rd edition of which refinery at Bina in Sagar district of Madhya
from $ 24 million in 2005 to $ 340 million as
was held in Mumbai on May 29-30, 2007. Pradesh along with crude supply
of January 2012.
An India-GCC framework agreement on system. BORL- a US $ 2.4 billion project
• Balance of trade is in Oman’s favour due trade is in place and negotiations are on for was inaugurated in May 2011.
to export of fertilizers and spot purchase of an FTA.
• Jindal Steel & Power Ltd.(JSPL) acquired
oil & gas by India.
the Oman-based Shadeed Iron & Steel Co
India-Oman Joint Ventures:
• Major items of Indian exports are textiles
LLC for $ 464 million from Abu Dhabi’s Al
and garments, machinery and equipment, • The US$ 969 million, Oman India Gaith Holding PJSC and is at present
electrical and electronic items, chemicals, Fertilizer Company (OMIFCO), India’s operating 1.5 MTPA gas based hot
iron and steel products in addition to largest Joint Venture abroad, started in briquetted iron plant at Sohar Industrial
traditional items like tea, coffee, spices, August 2002 at Sur, Oman, with formal port area of Oman. Jindal is putting up a
inauguration on January 28, 2006. IFFCO
rice and meat products and seafood.
smelter in Sohar.
and KRIBHCO are equal partners in the
• Major Omani export commodities are
• L&T have established four mega joint
ventures: L&T Oman LLC, L&T Electromac
LLC, L&T Modular Fabrication Yard LLC and
L&T Heavy Engineering LLC with the Zubair
Group.
• In July 2010, final documents relating to
India-Oman Joint Investment Fund have
been signed in New Delhi. State General
Reserve Fund from Oman and State Bank of
India from India are the operating parties of
the Fund. The Fund has started its
operations, with initial seed capital of US$
100, through a Mumbai headquartered
Management Company. The Fund is
operational since 2011 and has commenced
disbursals to projects during 2012.
Important Links for Tourists
Popular Destinations in Oman
Tourist Guide
Travel Guide
About Touring Oman
About Touring Oman
About Touring Oman
About Touring Oman
Hospitals
Muscat Private Hospital
Royal Hospital
Apollo Medical Centre
Bidiya Hospital
IACCI
www.asiarooms.com/travel-guide/oman/popular-destinationsin-oman/index.shtml
www.oman-online.com/tourism/touguide.shtml
www.asiarooms.com/travel-guide/oman/
www.lonelyplanet.com/dest/mea/oma.htm
www.legend.net/oman/tour.htm
www.inforamp.net/~emous/oman/tourism.htm
www.mid-net.com/travel/treasure.shtml
www.muscatprivatehospital.com
www.royalhospital.med.om
www.medindia.net/news/Apollo-Provides-TelemedicineFacility-in-Its-Muscat-Hospital-24697-1.htm
www.ameinfo.com/db-89649.shtml
IACCI
IACCI
• There are 19 Indian schools offering CBSE
syllabus catering to the educational needs
of more than 42,000 Indian children. To
accommodate the growing number of
school going children of Indian expatriates,
some of the schools in Muscat have started
evening batches. The Schools are
distributed in different cities like Muscat
(Indian School Muscat, Darsait, Wadi Kabir,
Seeb, Al Ghubra, Mabella), Nizwa,
Muladha, Sohar, Sur, Salalah, Ibri, Ibra,
Jalan, Rustaq, Khasab, Buraimi, Thumrait
and Massirah. The Board of Directors is the
governing body of Indian Schools in Oman
and includes Embassy representative.
Bhartiya Vidya Bhawan has, during January
2013, set up the Modern International
School with CBSE ( I ) syllabus, in Muscat.
• As per the provision of the MoU on
Manpower signed during the Prime
Minister’s visit to Oman (November 8,
2008), an India-Oman Joint Working Group
was set up which has held three annual
meetings. The last meeting was held in
Mumbai during September 2012. Several
labour related issues like standardized
Model Employment Contract, payment of
salary through banks, retention of passport
by employers, exchange of information
with regard to illegal recruitment and
human trafficking, etc. were discussed in
these meetings.
Cultural Relations
The vibrant Indian Community is keeping
its cultural heritage and traditions alive in
Oman. Visits of popular artistes from the
field of films and music in the past few
years have strengthened the cultural
bondage with Omanis, who cherish their
cultural links with India. ICCR regularly
sponsors visits of artistes to Oman. MOU
on Cultural Cooperation signed in July 2010
has provided impetus to the cultural
collaboration.
Indian Social Club, with its 17-odd wings
and branches in Salalah and Sohar is the
umbrella organization representing the
Indian Community in the country. The Club,
its branches and Wings regularly organize
cultural events in various parts of the
• There is prominent Indian presence in Sultanate of Oman.
various sectors like oil & gas, mining,
In April 2011, a National Records and
manufacturing, IT & telecom, power &
Archives Authority delegation from Oman
water, construction, real estate &
visited the National Archives of India, New
consultancy, healthcare, warehousing &
Delhi to view and reproduce documents
logistics, railway sector and steel etc.
dating back to 18th century pertaining to
Omani Companies in India are present
Oman. The research would continue for
i n d i ve rs e a re a s l i ke o i l & ga s ,
several months to complete collecting the
manufacturing, IT & telecom, hospitality,
history of India-Oman relations from the
healthcare and financial services etc.
archives in economic, political, and cultural
• Indian financial institutions in Oman are fields. Head of the National Records and
Bank of Baroda since 1975, State Bank of Archives Authority of Oman led a
India since 2004, New India Assurance delegation to India during September 2012
Company and LIC. ICICI Bank and HDFC bank for attending the meeting of the Heads of
have representative offices in Oman.
the National Archives of the IOR-ARC
• Indian companies have strengthened member countries, and Oman participated
their presence in Oman with securing in a mobile exhibition.
prestigious contracts.
The Royal Opera House Muscat (ROHM)
has for the first time during its season
Indian Community in Oman
2012-13 scheduled a total of eight
• Indian community is the largest
performances by four Indian troupes: The
expatriate community in the Sultanate of
Nine Jewels of India (Sept. 2012),
Oman spread over the entire spectrum of
Manganiyar Seduction (Nov. 2012), Zakir
professions. As per the Ministry of
Hussain (Feb. 2013) and Subramanian
Manpower statistics, as of January 2012,
(March 2013).
the number of Indian expatriates in Oman
is 7,18,252 and the number of Indian Air Link: Currently, Air India (including Air
workers in Oman is 581,832. There are India, and Air India Express) is operating 34
many Indian professionals occupying key weekly flights, Jet Airways is operating 21
positions in Omani government and private weekly flights and IndiGo four weekly
sector. Indian nationals in Oman are well- flights from Muscat to Mumbai. Spice Jet
known for their hard work and dedication. has also announced operation of daily
Thousands of them are working as doctors, flights between Mumbai and Muscat.
engineers, chartered accountants, Oman Air operates 75 flights per week to
teachers, lecturers, nurses, managers, etc. 10 destinations in India. During the Civil
It is estimated that around 2,000 Indian Aviation Talks held in Muscat on November
doctors work in Oman in Government 25-26, the two sides signed a revised MOU
hospitals and in clinics in the private sector. agreeing on increasing the number of
There are also some 30 Indian weekly passenger seats from 11,550 to
academics in the Sultan Qaboos 16,016, and weekly flights from 75 to 104,
University's various departments and for each side from either end.
faculties. 19 Indian Schools, with CBSE Source: www.mea.gov.in
IACCI
IACCI
IACCI