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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

New foreign investment law to boost capital inflows: CBO

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Oman’s Foreign Capital Investment Law, currently the subject of a comprehensive revamp, will help enhance inflows of foreign investment, thereby helping fuel the nation’s economic growth, according to the Central Bank of Oman (CBO).


The apex bank said in its newly published ‘Mid-Year Review of the Omani Economy 2017’, issued here this week, that the new law aims to, among other objectives, address major concerns regarding foreign investors’ rights and obligations.


“The proposed investment law also provides dispute resolution and includes international arbitration,” the CBO report said. “The open nature of the Omani economy allows remittances of equity, debt, capital, interest, dividends, profits and personal savings abroad. Additionally, the fixed exchange rate of Omani Rial makes the investment by foreign investors devoid of any exchange rate risk and hence, provides them certainty of returns in terms of exchange rate,” it added.


The Sultanate, according the Central Bank, has been pursuing free open-market policies that espouse a prominent role for the private sector in the economy. This market philosophy also envisages an enhanced role for foreign capital in the overall development of the economy, it noted.


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