OABC News

The Oman American Business Center (OABC) introduced 36 U.S. franchises to Omani investors and entrepreneurs at a two-day event at the Crowne Plaza Muscat, Oman Convention and Exhibition Centre (OCEC), between April 7-8.

Delegates presented brands new to Oman, and connected with attendees during one-on-one meetings on the second day of the event. Opportunities presented included fast casual dining establishments, restaurant experiences, kids’ education, entertainment, fitness, technology, health and more.

Asha Enterprises and Clyde & Co. sponsored the event. Asha Enterprises had experts present to connect with potential franchisees to discuss specific costs and requirements for fit-out and interior design. Joycia Young, Partner at Clyde & Co Dubai, presented legal steps to opening a franchise, as a top franchise law expert in the region.

Joel Stewart, Founder of Integrity Commerical and Omar Al Haza’a, CEO and Founder of Franchise Arabia, partnered with the OABC to invite US companies to the event. “The Oman-US Free Trade Agreement and the positive economic outlook for the Sultanate make this country a key market and country of interest for the brands I represent,” said Stewart.

“I’m very grateful to the OABC for facilitating the first event of its kind in Oman — I was surprised by the new concepts and opportunities presented, and I see a lot of potential for a number of them to succeed in Oman,” says MaanAlasfoor, OABC Member and Business Development Manager at Global Reliance Line.

“As the official affiliate of the US Chamber of Commerce in Oman, we are always looking for new ways to connect Omani and US businesses and to highlight opportunities that could facilitate commercial development between both nations,” says Rebecca Olson, Executive Director at the OABC. “We look forward to hosting similar events in the future.”

From Times in Oman.

Find Clyde & Co. presentation here, more pictures here.

The Oman American Business Center (OABC) organised a legal update event for its members and special guests, in collaboration with Clyde & Co. and KPMG, at the Intercontinental Hotel Muscat on Wednesday, March 20th.

Legal experts of Clyde & Co offered detailed presentations on recent changes to legislation in Oman. Taimur Malik, Regional Partner, together with Associates Fatma Makki and Zahir Al Sulaimani, discussed the newly adopted 2019 Oman Commercial Companies Law.

Marla Valdez, Board Member of the OABC and Managing Partner at Clyde & Co Oman, covered details of the Minerals Wealth Law. Executive Regulations to the Tax Law were presented by Ashok Hariharan, Partner and Head of Tax at KPMG Lower Gulf, and Meenakshi Sundaram, Tax Director of KPMG in Oman.

“The Oman tax landscape is undergoing a considerable change to not only deal with the need to enhance tax revenues, but also to cope with the global tax developments, including the need for companies having offshore structures to have economic substance,” said Hariharan, following his presentation.

“It is also important for businesses to consider the possible implications of the recent inclusion of Oman in the blacklist re-leased by EU, and the consequent likely outcome of Oman agreeing to introduce legislation to facilitate automatic exchange of information with other countries,” he added.

Sundaram’s presentation pointed out that “The recent changes to the Executive Regulations to the Tax Law provides much needed clarification on several tax matters, including the most important withholding tax rules. Businesses should carefully evaluate the tax implications and ensure appropriate compliance with the regulations.”

“We are thankful to OABC Premium Member company Clyde & Co, not only for sharing their expertise and knowledge, but for recommending these topics in the first place, rightly expecting that the Oman business community would have questions about recent changes,” said Rebecca Olson, Executive Director at the OABC.

“KPMG has done an excellent job on the tax side, clearly outlining new regulations for our company members working in a variety of sectors. We thank both companies for their fantastic work and sponsorship for the event,” Rebecca Olson added.

Marla Valdez, Managing Partner at Clyde & Co in Muscat, said: “The recent adoption of the new laws demonstrates the Government’s understanding that Oman’s legal and regulatory framework needs to evolve in order to attract new investments, while also protecting the public’s interest. Investments need certainty, and the mining industry for instance had somewhat stalled while investors waited for the new law to be adopted. This is a welcome development and we expect to see further announcements on the regulatory front to support Oman’s Vision 2040.”

From Times of Oman.

Find more photos here.

Around 80 OABC members recently came together to clean up waste at the beach behind Azaiba Clothing Factory in Muscat. With around 442 kg of plastic, glass and fishing nets among the trash that members picked up.

We would like to thank Harub Dental Surgery for the sponsorship and all the support. The campaign received support from Saba Muscat Trading Co. by providing the special eco-friendly reusable cups.

Twenty Northeastern University students representing family businesses from around the world, together with professors, panellists, and OABC board members, participated in the Oman Family Business Forum, organised by the Oman American Business Center at the Grand Hyatt Muscat on March 4. The event, which ended with a special dinner reception at the residence of U.S. Ambassador Marc J Sievers, was sponsored by Daud Group of Companies.

Members of the OABC participated in two panel discussions, both designed to encourage and impart knowledge to the students, who are about to graduate and enter their own family businesses.

The first panel invited executives from top companies in Oman to share about their experiences in serving a family business as a career, including lessons learned during times of transition to new or younger leadership. The second panel, with next-generation leaders from Oman’s top companies, focused on innovation and the impact that these young leaders have been able to make since graduating and entering the family business.

“Family is of utmost importance in Omani society, and it’s our job to help prepare and assist the next generation of leaders,” says Ali Daud, CEO and President of Daud Group of Companies.

“In addition, young people inspire us every day with their energy, innovative minds, and unique outlook. We are excited to support the students’ learning experience in partnership with the OABC.”

“We are thrilled with the willingness of our members, each of whom are busy executives, to offer their time and support during a critical point in these students’ lives,” says Rebecca Olson, Executive Director of the OABC. “Providing a space for the exchange of ideas and the building up of understanding is a key objective of the OABC. We are grateful for the opportunity to host these students and also to discuss a topic of such great importance and interest to the Oman business community.”

From Oman Observer.

Find more photos here.

On February 19^th OABC Premium Members enjoyed a VIP sneak peek of the new W Muscat Hotel. As the first group allowed to tour the hotel.

We were all blown away by the infinity swimming pool at the Siddharta Lounge by Buddha-Bar & WOW and E-WOW suites.

 Special thanks to Gerald, Rania and the W talent for the hospitality, and to all of our Premium Members for being great supporters of the work of OABC.

On February 12th the Oman American Business Center (AmCham Oman) hosted an Outdoor Business Networking Evening at the Crowne Plaza, Muscat. The event was sponsored by Page Middle East, a General Dynamics company, and was abuzz with activity and conversations, with over 160 executives and businesspeople present.

Find more photos here.

Following the success of its first Tech Talk the Oman American Business Center (OABC) hosted its second such event in partnership with worldwide technology leader Cisco. The event, titled The Internet of Things in Oman focused on driving digital transformation to achieve better business outcomes. It also discussed key topics such as innovation and boosting productivity, to enable organisations to harness new levels of data and insight to better engage stakeholders.

Rebecca Olson, OABC Executive Director, said: “The first Tech Talk was a huge success for our professional community. The event discussed a brand new, surprising, innovative technology and its application, specific to Oman and its market. We are grateful to OABC’s corporate member Cisco for sharing their local experience with the community.”

Olson added, “We are shifting towards a digital world and need to be prepared for the changes that are yet to come. With its extensive portfolio of smart solutions and outcome-based approaches, Cisco has well-tested practices in enabling digital transformation. As organisations in Oman seek to optimise costs and drive efficiencies, there is great potential for growth in areas such as mobility, security, cloud storage, big data, and analytics.”

Turki al Yahmadi, Technical Manager at Cisco Oman, said, “I was delighted to present the event and share my expertise with the public. Oman has seen great strides in its digital strategy in line with the 2040 vision.”

From Oman Observer.

More pictures here.

Oman American Business Center Hosts Rooftop Professional Networking for Top Executives in Oman.