Oman Post to Privatize

Oman is opening its doors for foreign investment through several laws including 100 per cent ownership of companies by foreigners, a senior Omani government official said. The country also plans to privatise several service sectors, including postal services. ‘Oman has enacted several laws, including 100 per cent ownership of companies by foreigners to encourage the flow of foreign direct investment into the country,’ said Malak Al Shibani, director of Investments and Export Promotion Authority in Oman.” The article states: “Saeed Saif bin Jabr Al Suwaidi, president of the Federation of UAE Chambers of Commerce and Industry, underscored the need for the creation of a proper climate and incentives for flow of foreign direct investment into UAE and other regional countries. ‘We in the UAE will spare no efforts to provide proper incentives and encouragement to local, regional and foreign investors and for transfer of technology,’ he said.