Country Profile – OmanLocated in a strategic location on the Musandam Peninsula, Oman is adjacent to the Strait of Hormuz in the north - a vital point of transit for world crude oil.
The political framework of Oman is set under an absolute monarchy wherein the Sultan of Oman is the head of the state and the government. With no child or designated successor prince, there is political uncertainty about the regime. The next election under universal suffrage is planned for October 2015
Oman is opposed to proposals for a political and economic union among the GCC states. The cause for this stand is to maintain its neutrality in foreign policy and ensure cordial ties with the GCC and Iran.
The government has adopted a policy of economic diversification with an emphasis on agriculture, fisheries, tourism, mining, light industry, petrochemicals and other heavy industries.
Oman is one of the largest producers of oil and gas in the Middle East. It is not a member of Organization of the Petroleum Exporting Countries (OPEC).
In 2015, Oman ranks 66th as per Doing Business ranking issued by World Bank.
Oman is the only Gulf country untouched by terrorism and war despite sharing border with key Arab players Yemen and Saudi Arabia.
The typical clashes between the Shias and Sunnis group – seen in neighboring countries – are absent in Oman resulting in peace and stability.
Demand from the masses includes greater job opportunities, measures to curb corruption among top officials and a reduction in rising inequality.
About this report
A country profile is an instant guide to the political, economic, demographic, industrial, and business environment of a market. The report provides a range of quantitative and qualitative information on a variety of national aspects, including geography, economy, education, demography, labour, political climate, infrastructure, industry, tax, trade, investment, and ease of doing business. Additionally, the report provides a PESTLE analysis of a country’s business climate. The country profile can be an effective tool for businesses in their marketing, strategy, and planning exercises when studying the future prospects of an economy.
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