MUSCAT: The new Labour Law will generate more jobs for Omanis and make the country more attractive for foreign investors, Dr Nasser bin Rashid al Maawali, Under-Secretary of the Ministry of Economy, said on Saturday. He said the law will improve the business environment and enhance market competitiveness that would attract investment and help in achieving the target of the 10th five-year development plan.
He said the law would boost investment to GDP ratio to 27 per cent and help to increase the private sector's contribution to 60 per cent of total investments.
“The Labour Law will enhance the ranking of the Sultanate of Oman on international indicators, and help keep the momentum of the country’s economic growth.”
He said, “The Labour Law will contribute a lot in providing employment opportunities for Omani youths and will highlight the focus on Omanisation. We are counting on the Omani labour force to make a significant contribution to the national economy and their empowerment will boost the private sector in the future.”
Dr Al Maawali said: “The Labour Law is one of the most prominent aspects governing the legislative framework of economic affairs in the Sultanate of Oman, as the labour market and employment policies are fundamental pillars of economic development. The groundbreaking Royal Decree on Labour is closely aligned with the principles of Oman Vision 2040 and the 10th five-year development plan (2021-2025). It is specifically tailored to address the needs of the labour market in the country and in line with the basic labour standards of the International Labour Organisation.”
He said, “We need to provide a labour market that is attractive for competent workers and keeps pace with demographic, economic, knowledge and technical changes.”
Dr Al Maawali stressed that the new provisions of the law will enable the private sector to take charge of the economic growth and achieve the desired integration.
He said: “The growth in the private sector will help in the contribution of increased labour productivity. The new provisions of the law will empower the private sector and overcome the challenges it faces. The law has given clear importance on upgrading national capabilities and providing attractive modern work patterns related to working hours, flexibility and remote work."
The under-secretary also spoke on the social dimension of the Labour Law and stressed that the law was in line with the Social Protection Law. “The law offers privileges for people with disabilities and working women. Policies and legislation that empower women socially and economically are in line with the principles of human rights and are also included in the programmes of the 10th five-year development plan.” — ONA
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