Under Omani Law there is no clear definition of “Omani Product.” In practice for the purposes of considering a product as an Omani Product, many ministries including the Ministry of Commerce and Industry (“MOCI”) looks into a product’s (a) origin and manufacture; and (b) outsourcing prior to classifying the product as an “Omani Product.”
Thursday, November 20, 2014
The signing, in 1980, of the Unified Agreement on the Investment of Arab Capital in the Arab States (the “Agreement”) was an attempt by MENA countries to set up a regional and enforceable investment regime that would encourage nationals in the wealthy Arab States to invest in the region’s poorer countries. The purpose behind such signing was to strengthen overall Arab development and Arab economic integration.
Monday, November 10, 2014
In evaluating a prospective investment in a collective investment vehicle, an investor should consider how such vehicle’s offering terms align not only with such investor’s commercial and risk profile, but also how such terms align with the terms offered in the broader international funds industry. This article provides an overview of current developments and market trends in the international funds industry that we have identified in connection with advising our clients on their investment activities.
Monday, November 3, 2014
The Civil Transactions Law (the “Code”), enacted pursuant to Royal Decree 29 of 2013, and having come into force in Oman on August 13, 2013, is a codification of Omani (and to some degree Egyptian) jurisprudence, as developed over past decades. The Code contains a section on “Muqawala” (a contract to make a thing, or perform a task) which impacts directly on construction activities in Oman and is the focus of this article.