AmCham Oman

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After Oman and the US announced a new scheme which allows the citizens of both the countries to get ten-year multiple-entry visas replacing the earlier system where the visas were valid for only two years, Omanis and Americans alike have welcomed the decision saying it will further boost trade relations and open up more opportunities between the two countries.

While Omanis have been getting ten-year visas since January this year, US citizens started getting the same from last week onwards. In remarks to Muscat Daily, Rebecca Olson, executive director Oman American Business Center (OABC), said, “As the international affiliate of the US Chamber of Commerce in Oman, the Oman American Business Center is pleased with this move to further facilitate trade and commercial development between the US and the sultanate.

“Many of our members often travel back and forth and this will make things easier for all. There are still many opportunities for those who wish to take advantage of the US-Oman Free Trade Agreement, which will continue to benefit both nations after this ten-year mark.”

As Oman’s free trade agreement with the US marks ten years, the move is a complementary step towards good relations.
Talal al Subhi, executive director of Rohn Products International Arabia, said, “The new system will obviously bring more businesses between both the countries. It is a good move because before we used to get visas every two years but now we will do so once in ten years.”

However, Subhi informed that even though the visa is issued and valid for ten years, entry to the US is not fully guaranteed as a few questions will be asked at immigration there.

“First-timers need to understand that entry is not guaranteed even if they have visas and the entry is subject to the approval of immigration officers at the port of entry who will ask a few questions,” he said.

Subhi and his American partners in tower manufacturing plant in Sohar have suggested that Oman Air should start direct flights to the US.

“Oman Air should consider starting direct flights to two or three cities in the US and this will boost further the businesses between both countries. And by having direct Oman Air flights, this means there would be counters to cater to the vetting of travelers from Oman and in case of anything, they would be informed before departing to the US,” he said.

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Rhon is one of the American Omani partnership companies and has set up 10,000 towers. It has also constructed the tallest tower in Oman at a height of 279m.

Marla Valdez, an American lawyer based in Oman, said, “I believe this new ten-year visa extension is a significant milestone in the longstanding relationship between the US and Oman and a development that should further extend the bilateral cooperation at many levels.”

She added, “As a board member of the Oman American Business Center, as well as being both a US citizen and an Oman resident, I obviously feel very proud of this achievement. I am confident that it will encourage tourism and business between the two countries, and that it will lead to other positive measures going forward.”

Mundhir al Alawi, who fell in love with American donuts during his studies in the US, and later founded 3rd Street Donuts in Muscat, said, “I travel to the US three times a year and this move is great and our travels to the US are now hassle-free. The move will enhance many other business opportunities. It will be a complement to the free trade agreement with the US.”

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The Oman American Business Center (OABC), in a bid to foster closer relationships and business partnerships between regional AmChams (American Chambers of Commerce), hosted the first-ever GCC Regional AmCham Summit at Anantara Jebel Akhdar Resort on June 14 and 15.

“As AmCham affiliates in the GCC, we share one vision and mission. Of course, we also face similar challenges,” said Rebecca Olson, Executive Director of the OABC. “At what we trust will be the first of several meetings to come, we discovered several new ways to overcome these challenges as well as support each other and partner within the region.”

Olson continued, “When we invited regional AmCham leaders to attend this, the first-ever summit of its kind in the region, it was encouraging to see that not a single one hesitated.”

The GCC AmChams represent over 1,000 member companies and millions of dollars of US investment in the region. They are the go to organisations in each country for anything US trade and opportunities related.

Mary McGinnis, Executive Director, American Chamber of Commerce in Bahrain, stated that, “AmCham Bahrain is pleased to participate in this, the first Gulf Regional AmCham Summit. We recognise the power of communication and collaboration and look forward to building closer ties with our neighboring AmChams. In doing so we can bring more value to our members and increase regional, as well as US-Bahrain, trade.”

The two-day event brought together executive directors and board members representing AmChams in Oman, Abu Dhabi, Dubai, Kuwait and Bahrain, to discuss opportunities for increased collaboration. This included partnering on joint trade missions to and from the US and bringing key speakers to the region for business events. The delegates also discussed best practices across several key points of interest that could further support member companies, ranging from communication and digital platforms to event planning and benefit programs.

Esra Cavdarli Menke, Executive Director of AmCham Kuwait said, “The event was a tremendous opportunity to learn what best practices other AmChams are using to promote greater US business relationships with our allies in the region.”

The Oman American Business Center is now finalizing its 2019-2020 calendar of events. Last year the organisation hosted 27 events in line with its mission to help support the Oman business community and to increase trade and commercial development between the Sultanate and the United States. At each event, executives and decision-makers in Oman meet, build relationships, learn and discuss key matters of interest to the business community.

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We would like to thank the Kempinski Hotel Muscat for inviting OABC’s Premium Membership* to Soi Soi Restaurant’s launch of “Bangkok By Night” last Saturday, June 15th.

The event continues every week — Diners experience all-you-can-eat signature delicacies inspired by Thailand’s street food, from 6:30 to 11 PM: OMR 12 Per Person, OMR 10 House Beverages Package.

Special exclusive offer for OABC: Kempinski Hotel Muscat would like to offer a ‘Complimentary Welcome Drink’ for every OABC member who attends. Offer is valid upon using a valid OABC membership card.

*OABC Premium members enjoy exclusive events, regular OABC events, complimentary products and promotions, advertising to business-focused email lists, invitations to trade shows, sponsorship opportunities, and special invitations to meet VIPs and stakeholders.

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Kempinski Hotel Muscat Bangkok by Night at Soi Soi

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The Oman American Business Center (OABC) hosted its annual Ramadan art exhibition and Iftar in honor of Adatee Hyattee,a Omani group of artists with disabilities. Sponsored by Boeing Middle East, this event is an annual initiative focused on encouraging diversity, understanding and inclusion between communities.

Approximately 100 guests attended, including OABC members, business executives, Omani artists, and US Ambassador Marc Sievers. The event provided a networking platform within an artistic and creative environment. The talented men and women shared their personal journey of pain, hope and inspiration through an impressive display of over 30 works of art.

Rebecca Olson, Executive Director of OABC said, “The Annual Iftar is a favorite event for many OABC members because of the spirit of thankfulness and respect present in the community during the month of Ramadan. Spending time with the artists, seeing their work, and enjoying a meal together creates a space for more than just business networking. We thank each artist who attended, as well as OABC Corporate Member since 2016, Boeing Middle East, for their annual sponsorship of this very memorable event.”

Bernard Dunn, president of Boeing Middle East, North Africa and Turkey said: “Boeing is extremely proud to be a member of the OABC and to spend the evening with Adatee Hyattee and their beautiful art. We know that uniting communities and bringing diverse groups together in an inclusive environment, is essential to the betterment of the global community and economy. We will continue our support for initiatives that build bridges and empower communities here in Oman.”

The OABC not only prioritizes bringing the business community together, but values the participation and involvement from local members of the community, in order to provide its members with new and authentic experiences. Through this year’s event, attendees were able to appreciate more than the artwork on display— they were also given an opportunity to focus on the artists’ own determination; creating opportunity out of their personal struggles.

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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.

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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.

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Members of the Oman American Business Center were invited to a sneak peek of the newly renovated Al Bustan Palace on October 22nd.  The tour divided members into several groups and highlighted the brand new lagoon rooms and new features of the hotel.  Drinks and canapés were enjoyed during a special indoor and outdoor networking time at the Beach Pavilion, which features an expanded deck area.  General Manager Katrin Herz welcomed members and explained the new activities, weekly events and ongoing benefits for residents of Oman looking for relaxation or luxury ‘staycations’.

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This September, U.S. Chamber’s Middle East team worked very closely with the Oman American Business Center to revitalize this important organization in Oman which serves as the AmCham and the bridge between the two business communities. During the visit, Steve Lutes, Vice President of Middle East Affairs at the U.S. Chamber of Commerce, met with many key leaders to discuss ways to strenghten the U.S.-Oman business relationship, including Ministry of Commerce & Industry Undersecretary Al-Dheeb; the Head of the Public Authority for Investment Promotion and Export Development; and leadership from the Oman Chamber of Commerce and Industry and the U.S. Embassy in Muscat. In addition, the U.S. Chamber was proud to partner with U.S. Embassy Muscat and OABC to host a networking session with OABC’s members, which provided a timely opportunity for a discussion on the administration’s trade agenda.

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Pictured: Oman Ministry of Commerce & Industry Undersecretary Ahmed Hassan Al-Dheeb; Steve Lutes, U.S. Chamber of Commerce; Andrew Barwig, Economic & Commercial Officer, U.S. Embassy Muscat;  and Rebecca Olson, Executive Director, Oman American Business Center. 

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U.S. Chamber, OABC, and U.S. Embassy Muscat representatives meet with Oman Chamber CEO and his team. 

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U.S. Chamber, OABC, and U.S. Embassy Muscat representatives meet with Ithraa’s head of Investment Promotion. 

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Connecting businesses, people, and opportunities through exclusive events, the Oman American Business Center (OABC) hosted its first ever ‘Tech Talk’ in collaboration with Mercedes-Benz Oman. At the event, held at Mercedes-Benz’ flagship showroom in Muscat, CEO Lawrence Good spoke about the leading technologies in autonomous driving and electric vehicles, providing OABC members with a sneak peek into the future of mobility.

Rebecca Olson, Executive Director at the Oman American Business Center said, “Innovation is critical to the success of any company, as is the ability to adapt to changes. For many new technologies entering Oman, it’s not a matter of if, but when. Successful businesses are already getting prepared for what’s to come. At OABC, we provide a forum for the exchange of insights, information, and ideas with the hopes of providing the member companies with real, tangible opportunities for growth.”

Lawrence Good, CEO of Mercedes-Benz Oman said, “Mercedes-Benz is known for its innovation. Pushing the boundaries to create superior vehicles, we are constantly looking at ways to provide drivers with something that is more than just luxurious: a product that is also powerful and beautifully designed. It was a pleasure hosting the OABC members at our showroom and speaking to them about how Mercedes-Benz is looking to the future of mobility, inventing new technologies and making them accessible to everybody.”

On the local front, renewable energy within Oman is gaining traction. Earlier this year the country celebrated the installation of its first ever Electric Vehicle (EV) charging station as part of the Middle East Global Electric Vehicle Road Trip, which showcased EVs as a sustainable solution for drivers and businesses.

From Oman Observer.

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