J0 JOINT VENTURES IN THE SULTANATE OF OMAN John McHugo* Solicitor This article is about the legal and procedural requirements which govern the various kinds of joint venture arrangements in Oman. It is chiefly concerned with arrangements between Omani and foreign parties. It should be remembered that the legislation with which we are concerned is a product of the reign of HM Sultan Qaboos, and has a deliberate policy behind it: the extension of participation by Omani nationals in commerce and industry, together with controlled foreign involvement in necessary areas. In Oman, as in many Middle Eastern countries, commerce, industry and finance were for a very long while dominated by foreign interests. The laws with which we are concerned were designed to change this as much as possible. They are therefore important to both Omani and foreign parties, and a foreign party should be aware that they are largely designed to protect the interests of the Omani party with whom he is dealing. Practitioners of the laws of the other GCC States will find much that is familiar and broadly similar in concept. 1 The Foreign Business and Investment Law (the "FBIL")1 This law was promulgated in 1974,
Arab Law Quarterly – Brill
Published: Jan 1, 1987
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