Muscat,  (ONA) Dr. Dawood bin Sulaiman Al-Mahrazi presents an analytical study on the "Law on Foreign Capital Investment in the Sultanate of Oman", No. 50/2019, in a book published by the LUBAN Foundation within its November publications.

In the introduction to the book, Al-Mahrazi notes that foreign investment is a main pillar for building the edifice of the national economy for any country that aims to achieve the greatest economic growth, which in turn contributes to strengthening the state's economic position compared to its counterparts from the world. Foreign investment contributes to the formation of durable productive energies that raise the capabilities of the society’s productive apparatus to achieve economic and social development, raise the level of employment and reduce rates of job seekers, adding that it has also become "the first growth mechanism in the contemporary global economy."

The author pointed out that the Sultanate has been embarking on reform and economic development to make room for the economy, which works on a regular basis in line with modern financial, economic and monetary policies, and to work on real and supportive adaptation of the investment climate that coincides with vigorous development reforms for the private and public sectors and privatization programs.

He stressed that it is expected that the Foreign Capital Investment Law and the accompanying laws will consolidate the Sultanate's position at the center of the map of foreign investment flows, and increase its investment attractiveness to usher in a new era that contributes to the growth and prosperity of the national economy.

Through the pages of the book, Dr. Dawood Al-Mahrezi provides his answers to the questions he posed in the introduction to the book, including: Is the new law sufficient to attract positive foreign investments to the state? Are there other factors that must be addressed by decision makers? Does the law and its executive regulations meet the ambition? Is the business environment in the Sultanate stimulating for investments? Are the long and complicated procedures the only obstacle in attracting investments in general? What are the solutions that simplify procedures and thus improve the business environment? What is the volume of foreign investments expected from the application of this law?

In his book, the author reviews the concept of foreign investment and its importance, the importance and characteristics of the foreign capital investment law, the most important features of this law and the accompanying laws, guarantees and incentives, improving the business environment in the Sultanate, the allocation of public projects and their competencies in attracting foreign investment to the Sultanate, the rules relating to the allocation of real estate, settlement of investment disputes, the investment climate and the factors attracting it, and investment in special economic zones, free zones and industrial cities.

Al-Mahrizi, who holds a doctorate in political economy and economic legislation, concludes his book with a set of recommendations and suggestions, the most prominent of which is the exclusion of activities that could negatively affect the national interest or local investments, citizens and society.

(ONA)