An authoritative guide for investors, developers and businesses considering joint venture structures in the Sultanate of Oman
Why Oman? Why Now?
Like other GCC economies, the Sultanate of Oman is undergoing a profound economic transformation driven by Oman Vision 2040 which aims to diversify the national economy beyond hydrocarbons.
Trowers & Hamlins has advised on joint ventures in Oman throughout this period of transformation, with particular depth of experience in structures involving the transfer of technology and technical know-how — for example, where a foreign technology provider and an Omani off-taker seek to establish a joint venture to advance local manufacturing and in-country value initiatives.
The regulatory framework in Oman has also significantly changed over the past few years and has become increasingly investor-friendly, with the substantial elimination of historic foreign ownership restrictions. The Government has made significant strides to attract inbound investment, including through the establishment of specialised economic zones and free zones, the International Financial Centre of Oman, and the AI Free Zone.
Unlike other GCC economies, the market in Oman is not overly saturated and whilst Oman might have a small economy compared to some of its GCC neighbours, opportunities for joint ventures in Oman — particularly in sectors promoted under Vision 2040 — are considerable.
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