Sultanate ranks third in property rights

WASHINGTON: The Sultanate has been ranked third in the Arab world on the International Property Rights Index (IPRI) 2018, compiled by the US-based Property Rights Alliance. The Sultanate advanced one notch and was ranked 38th in the world, securing 6.332 points overall in the annual IPRI report, which measures the strength of physical property rights‚ intellectual property rights‚ and legal and political environments that contain them. Oman secured 6.124 points on the legal and political sub-index, 7.678 points in property rights protection and 5.949 points in protection of intellectual property rights. Finland topped the ranking followed by New Zealand, Sweden, Switzerland, Norway and Singapore. Countries with the least property rights and resultant poverty are: Venezuela‚ Haiti and Bangladesh. — ONA