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Oman Country Risk Report

Oman Country Risk Report


Oman performs well by MENA regional standards in terms of its operating environment. The country's clear strengths lie in its security and logistical environments. Despite being located in an unstable region, Oman is one of the most politically stable GCC states, with fewer concerns regarding domestic unrest or terrorist attacks. Additionally, with the various Omani road, port and airport projects, which are being constructed or planned, and low levels of trade bureaucracy for exporters and importers, the country's plans to become a logistics hub are starting to take shape. Areas that have higher levels of risk attached are the country’s labour market and trade and investment environment. The local labour force is expensive and is disadvantaged by an uncompetitive tertiary education environment, negatively affecting the quality and availability of skilled workers. Additionally, the domestic economy is not very diversified, as crude still accounts for around half of Omani exports, followed by other hydrocarbons such as natural gas and refined fuels. This strong reliance on the oil and gas sectors continues to weigh negatively on the economy and government finances, which is raising sovereign risk and the cost of borrowing for businesses.



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