Oman's first shipment of LNG signifies the inception of a lucrative source of export revenues that will last well into the future. As the Sultanate seeks to diversify its economy, it should benefit from imminent breakthroughs in its investment and trade legislation. Moreover, the country's strategic location at the mouth of the Persian Gulf gives it an important advantage over competition in Yemen and Dubai in the bid to become a regional trading hub. Foreigners should keep a close eye on Oman's investment law; anticipated reforms will create abundant opportunities in its industrial sector.
© 2000 Mena Report (www.menareport.com)
- Bahrain: Growth forecast to be slower than global average
- Consumer Confidence Index remains at above average levels during Q2 2012
- Yemen exports first LNG shipment
- IMF Regional Economic Outlook for the Middle East and Central Asia Sees Growth Higher Than Global Average, Emphasizes Downside Risks
- Average Outlook