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Business Strategies for OIC* Markets
  
 
Jun 2010: Rabi Al-Thani/ Rajab 1431: Issue 32
 

 

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Leading Business Cities of
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Muscat
Oman

 

Key Facts:
Population:
67,442
Degree Granting Universities:
To be Updated
Major Seaport:
Yes
Stock Market:
Muscat Securities Market
Market Cap. ('04)
9,317
US$ mln.
Market Cap Growth ('04)
29%
Listed Companies
123

 

Profile

More than half of the population of Oman lives in the capital area, which extends from Muscat to Seeb and along the northern Batinah coast.  The manufacturing industry has generally been located on the country's industrial estates of which there are 5. The first of these was established in 1983 at Rusayl on the outskirts of the capital, Muscat.   

Country Rankings
Oman
Ease of Doing Business World Bank '05
51 of 155
High*
Corruption Perception
Transparency International '05
28 of 159
High
Growth Competitiveness
World Economic Forum '05
Not covered
National Literacy
76%
Med
GDP Growth
(2004 est.)
1.2%
Low

In mid-2000 there were over 100 factories in operation, mostly producing light goods such as biscuits, soft drinks and textiles.  A cement plant is also part of this estate.

Muscat is also home to Knowledge Oasis Muscat (KOM), a a technology park covering 68 hectares of land, located just outside the capital. KOM neighbors the Rusayl Industrial Estate and Sultan Qaboos University. KOM is currently home to industry stalwarts such as HP, NCR, Huawei and Siemens as well as a number of hi-tech start-ups.

The two-day Middle East and South Asia (Mesa) Partners' Conference, recently in Muscat and held by KPMG, marked the audit firm's 30 years of operations in the Sultanate as well as the investment possibilities in Oman’s services sector and reforms in foreign investment laws which are currently being backed by the Ministry of Commerce and Industry.  Turkish Prime Minister Recep Erdogan recently attended a meeting of the Turkey-Oman Business Council in Muscat in order boost bilateral ties between the two countries.  A recent trade mission from Malaysia also visited Muscat to promote Malaysian services in power engineering and other power related industries.

Nawras, Oman's leading customer-oriented communications provider, announced recently the conclusion of a strategic alliance with international industry leader Microsoft and i-mate™, specialists in Windows Mobile™ device solutions which include next-generation smart phones and PDA devices. This alliance will bring breaking technologies in wireless business solutions to the Omani market.

The Muscat Securities Market, established in 1989, is open to foreign investors, although, with the exception of GCC investors, interest so far has been very limited.  The recent IPO of Taageer Finance, a prominent leasing and finance company, was 4 times oversubscribed.  In 2004 the Market produced almost a 25% return. 

Muscat will be host to a regional conference on 'preserving the wealth of family companies' in February, 2006 to be hosted by the Oman Chamber of Commerce and Industry (OCCI).

Key Links:

Muscat Securities Market -
http://www.msm.gov.om/

Oman Chamber of Commerce & Industry - http://www.chamberoman.com/

Omani Centre for Investment Promotion & Export Development - http://www.ociped.com

Knowledge Oasis Muscat -
http://www.kom.om/

Source:

Population: 2004 or latest: http://www.citypopulation.de; GDP Data: 2004 CIA Fact Book estimate; Literacy: UN estimate

* Country Ranking Codes: A relative color coding of where the country falls compared to the 20 other Muslim countries represented in this list. Hgh/Green=Top 3rd; Med/Yellow=Mid 3rd; Low/Orange=Bottom rd

 

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