Dr Lilian Akkouch has been working as a management consultant in the SME sector since 2018, focusing on international company relocations, project realisation and medical consultations. She founded InterGest Oman this year and introduces the country below:
Oman is located in the south-east of the Arabian Peninsula. It borders the United Arab Emirates to the north-west, Saudi Arabia to the west and Yemen to the south-west. Oman also has a long coastline on the Indian Ocean and the Gulf of Oman as well as a short coastline on the Persian Gulf. In other words, the country lies at the heart of the Middle East.
With a well-developed infrastructure, modern harbours and airports as well as a stable economic environment, the country offers ideal conditions for international companies. The open business culture and attractive incentives for foreign investment make Oman an interesting location for companies looking to expand in the region.
History & Culture
Oman has a long history dating back to ancient times. It reflects the diversity and rich cultural heritage of the region, while at the same time the country embarked on a path of modernisation and economic development. Under the leadership of Sultan Qaboos bin Said, who ruled from 1970 to 2020, Oman grew into a modern state.
The official language of the country is Arabic. However, the majority of Omanis also speak English, which is considered the language of trade.
Omani cuisine is characterised by Arabic, Indian and Persian influences. Dates, rice, fish and lamb are common ingredients in Omani cuisine.
Oman celebrates various religious festivals, including the Feast of Sacrifice (Eid al-Adha) and Eid al-Fitr. Traditional rituals and customs play an important role in everyday life in Oman.
Economy
Oman has developed into a moderately prosperous state in recent decades. A United Nations report from 2013 names Oman as the country that has improved its social and economic situation the most in the last 40 years.
Here are some key facts about Oman as a business location:
Oil and gas
Oman has substantial oil and gas reserves, and these resources have historically made a significant contribution to the country's economy. However, revenues from the energy sector are increasingly being used to diversify the economy and develop other sectors.
Economic diversification
In order to reduce its dependence on the energy sector, Oman has invested heavily in diversifying its economy: sectors such as tourism, fishing, mining, aviation and renewable energies are being actively promoted.
Infrastructure
Oman has invested heavily in improving its infrastructure, including roads, harbours, airports and communication networks. The port of Salalah is considered one of the most important harbours in the region.
Free trade agreement
Oman has signed free trade agreements with various countries and economic blocs to promote international trade.
Education and skilled labour
Investment in education has helped to train a skilled labour force that meets the requirements of modern industries.
Reforms and Vision 2040
The current Sultan, Head of State and Head of Government Haitham ibn Tariq, has presented a vision called "Oman Vision 2040", which aims to drive forward the country's economic diversification, reform the public administration and promote employment.
InterGest Oman was founded to support companies in tapping into the Omani market, which offers many opportunities. Thanks to its excellent network, comprehensive industry knowledge and local expertise, InterGest is also an ideal partner for companies wishing to gain a successful foothold in Oman.
