Sultanate of Oman is located in south-eastern part of the Arab semi-peninsula. Its shore extends from Hormoz in the North to Yemen republic in the South, so it is open to three seas: Arab Gulf, Oman Sea and Arab Sea. This location has given Oman its historical role in connecting Arab Gulf states with these countries.
Oman is 212 460 km² with a population of 4,558,847 people. Its GDP amounted to $66.3Billion in 2016.
By regional standards, Oman has a relatively diversified economy, but remains dependent on oil exports. Tourism is the fastest-growing industry in Oman. Other sources of income such as the agricultural and industrial sectors, are small in comparison. Since a slump in oil prices in 1998, Oman has made active plans to diversify its economy and is placing a greater emphasis on other areas of the economy, namely tourism and infrastructure. Among the country’s major trading partners are China, Japan, Saudi Arabia, India, and the United Arab Emirates.
As of today, Oman has developed special relations with the United Kingdom and the United States. However, the Sultanate pays close attention to France’s positions and initiatives.
The country’s National Programme for Enhancing Economic Diversification (TANFEEDH) offers opportunities for French companies: 1 139 French companies have exported to the country (in 2015). They are mainly present in the energy, water, environment and infrastructure sectors. In January 2016, the Suez-Dégremont group signed an agreement with the government of Oman to build and operate a seawater desalination plant. Lastly, an ambitious project to build a rail network of over 2,000km (including 300km connected to the trans-GCC network), opens up major opportunities for French businesses in this sector. In addition, the potential of opportunities is important in many areas: alternative energy, industrial equipment, luxury tourism and health.
In this context, Simon Associés entered into a strategic alliance agreement with Al Alawi & Co.
Al Alawi & Co is a full service law firm: Corporate & Commercial, Infrastructure & Projects, Banking & Finance, Shipping & Ship Finance, Intellectual Property, Litigation & Dispute Resolution, Employment & Immigration.
Al Alawi & Co provides creative, timely and practical legal solutions in an effective manner and offers in-depth local knowledge and a uniquely global perspective to a variety of clients including major multinational and national corporations, private businesses, government agencies and individuals.
Al Alawi & Co was ranked Tier 3 in the area Commercial Corporate and M&A, by The Legal 500 in 2018.