The legal and regulatory landscape is constantly evolving, meaning businesses have to remain agile in order to continue to progress. The past 12 months have been a true testament to the importance of adapting to unprecedented situations as the COVID-19 pandemic wreaked havoc on entire economies. Arsalan Tariq discusses the trends and changes impacting businesses and legal teams in Oman.
The Government of Oman has introduced new laws to promote the economy and to ensure minimal disruption to businesses during these difficult times. Many business owners and their in-house legal teams seek relief and protection from the implications of coronavirus. The recent measures issued by Omani authorities are an effort to ensure that business goes on as usual.
Oman has refined its legislative framework to focus on its private sector, local business owners, and foreign ones. Some of the key updates are provided within the following article and include;
- Bankruptcy Law
- Public-Partnership Law
- Privatisation Law
- Commercial Companies Law
- Foreign Capital Investment Law (FCIL)
- JSC Restructuring
- The impact of the pandemic