INTERNATIONAL TRADE
Muscat International Airport
are subject to ministerial approval. Additionally, the In-Country Value (ICV) initiative promotes the increased use of local workforce, sub-contractors and supply chains and it’s a particular priority in Oman’s energy sector. Many government-funded projects also insist that local SMEs make up at least ten per cent of the supply chain. In healthcare, Oman’s Department of Health’s ‘Vision 2050’ will focus on the development of seven hospitals, five health complexes and 27 health centres with extensive expansion plans for existing health facilities. There is a lack of expertise in advanced healthcare in Oman which presents significant opportunities for UK companies to get involved. The UK remains one of the
preferred destinations for Omanis studying overseas, and British standards are widely applied in the country’s educational system. This has resulted in many UK affiliations with private local universities and colleges and the use of British standards for vocational training to bridge the gap between the Omani educational system and the skills
needed to enter the employment market. Oman is investing heavily in
education, mainly to update its primary and secondary education system, and also to increase capacity for higher education in universities. There are a range of opportunities in the education sector, including vocational training in the private sector, consultancy and training and project management services to the public sector too. The Omani government is also looking for overseas expertise to help with improving special needs facilities and equipment and also the building of early years/nurseries. When looking at Oman as a new
market, market research, a long term approach and focus on relationship building are essential for successful market penetration and sustaining market share. Local partnerships or agents often play a crucial role in product promotion and success of a product, in many cases, will depend on the local agent. In the construction sector specifically, most large contractors have either in-house sourcing ability, or an associate trading
company dealing in supplies and equipment that complement their activity. To establish a business in Oman you need to be represented locally by someone at the level of decision maker, an example of this would be a branch office, which is only applicable for contracts with Omani government or quasi- government entities. For the agent route, commercial agencies are governed by the Commercial Agencies Law (Royal Decree 26/1977). An Omani agent supplies goods or services in Oman on behalf of a foreign principal which does not have a registered entity in Oman. As a UK company considering this option, there are a few formalities to be aware of before proceeding. All agents must be registered with the Ministry of Commerce and Industry (MoCI). Agency agreements in Oman can also be difficult to terminate and are often weighted in favour of the agent, with courts generally awarding two to three years’ net profits as compensation for wrongful termination or unjustified failure to renew an agreement. Overall Oman is an attractive
market, particularly for those in the construction and healthcare sectors which are currently enjoying massive government investment. UK companies looking at entering this market should do their research, visit the market and understand the customs and legalities of doing business in this country.
If you need help and advice about entering Oman, or growing your business internationally, contact the Enterprise Europe Network at
eeninfo@emc-dnl.co.uk or 0333 320 0333.
BREXIT AND TRADE CONFERENCE - SUCCEEDING IN UNCERTAIN TIMES
Date: Time:
29 October 8am-noon
Location: University of Derby Price:
Free
With increased political uncertainty - what next for business? This dedicated conference is
designed to provide the most up-to-date Brexit information facing East Midlands businesses. Attendees to this event will:
• Understand the latest position on Brexit in regards to trade
• Hear from active specialists sharing their knowledge
• Recognise and prioritise repercussions of leaving the European Union
• Get the opportunity to interact and network with other businesses facing similar challenges.
Agenda: 8am - 8.30am: Registration and refreshments
8.30am: Welcome and opending address - Scott Knowles, Chamber Chief Executive
8.35am: Beyond Brexit - Simon Hart, Brexit Lead Partner and Head of Knowledge Management, RSM
9.15am: Unlocking Productivity using Innovation and Skills - Professor Warren Manning, Pro Vice-Chancellor and Dean of the College of Engineering and Technology
9.35am: Building agile businesses panel and Q&A
10.10am: Break and refreshments
10.35am: Exporting to the EU: Get ready for Brexit - Ian Harrison, Head of Exports, DIT (Midlands)
10.55am: Top five things for SMEs to look out for with business energy - Sam Edwards, Partner Channel Manager UK, Consultus International Group
11.55am: Creating prepared businesses, panel and Q&A – Chaired by Kevin Harris, Office Managing Partner, RSM
11.50m: Concluding remarks - Chris Hobson, Chamber’s Director of Policy and External Affairs
Visit
bit.ly/EMCBrexitConf business network October 2019 53
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