Oxford Business Group signs Memorandum of Understanding with Abu Timam Grant Thornton for forthcoming report

Oman’s efforts to boost foreign investment by increasing the country’s competitiveness and making it more business friendly, particularly at its free zones, will be explored in detail in a forthcoming report to be published by the global publishing, research and consultancy firm Oxford Business Group (OBG).

The Report: Oman 2013 will provide wide-ranging coverage of the extensive infrastructure projects under way and in the pipeline, which are expected to play a major part in driving private sector growth. It will also put the many regulatory and legislative changes taking place in Oman under the microscope, including the recent introduction of Sharia-compliant financing.

OBG has signed a Memorandum of Understanding (MOU) on research facilities for a fifth consecutive year with Abu Timam Grant Thornton in preparation for the Group’s new project. Under the MOU, OBG will have access to the firm’s expertise and research resources which will be used in the compilation of the Tax Chapter of The Report: Oman 2013.

Abu Timam is the Omani arm of Grant Thornton International, the global professional services network of independent member firms which provide accounting, taxation and business advisory services worldwide.

OBG’s Regional Editor Oliver Cornock said the significant number of big-ticket projects currently under way in the Sultanate, alongside the growing number of opportunities within the private sector, heightened the need for investors to have a solid understanding of Oman’s changing business landscape.

“Of particular interest, no doubt, will be the responsibilities and rules relating to companies operating within Oman’s free zones,” he said. “The business guide section of our publications is a highly important tool for our readers, enabling them to get a comprehensive overview of the accounting and tax environment in the markets we cover. I am delighted we will benefit from Abu Timam Grant Thornton’s expertise once again for our report on Oman.”

Managing Partner at Abu Timam Nasser Said Al Mughairy agreed that the changes taking place in Oman’s legal framework, which were expected to be instrumental in driving growth across targeted areas of the economy including manufacturing and tourism, would be of key interest to investors.
“High oil prices have enabled Oman to take strides in its long-term plans to diversify its economy and create infrastructure, while also supporting the development of its young people,” he said. “I look forward to working once again with Oxford Business Group and documenting the opportunities Oman’s development is offering to investors.”

The Report: Oman 2013 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be produced in partnership with Abu Timam and the law firm Curtis, Mallet-Prevost, Colt and Mosle. Itwill be available in print or online.