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place whether globally, regionally or locally are in our national interest, if we know how to make best use of them.

ATTRACTING FOREIGN INVESTMENTS

Oman is an untapped investment destination that has great investment opportunities but is mostly unknown. To unlock the potential value, we have taken a number of aggressive actions capitalizing on our international brand and capabilities. We have:

1. Developed an informative yet exciting video to promote investment in Oman called “Invest in Oman” that answers the question of why investing in Oman is beneficial. Through a set of

facts and figures of interest to the foreign investors, we invite them to take the next step to invest in Oman. All of that in less than 5 minutes. We will produce the video at least in four languages: Arabic, English, French and Chinese.

2. Developed a bilingual book called OMAN: Untapped Investment Destination - A Guide to Establishing A Successful Business in Oman.

This guide is an overview for those aiming to establish an effective, successful business in Oman, maximizing the potential for all involved. We’ve highlighted key economic, social, legal and regulatory areas to create a practical, action focused guide. This handbook aims to provide a high-level summary of

Abbas Al Humaid, Managing Partner, Mazars Oman, says “We do not consider Oman as just another destination

where we have expanded our business, but a country where our mission is to serve and help it grow. For that purpose, we offer Oman all of the strengths of Mazars’ offices globally”.

How Oman’s economy can get out of the bottleneck? Driven from our mission, we conducted a deep strategic study of how Oman’s economy can get out of the bottleneck, despite of all economic and political challenges confronts Oman, while maximizing the benefits out of radical and dramatic changes in the political, economic, social, professional, technical, security and legal aspects of the business environment, at local, regional and international levels. The answer we arrived to was to focus on two things: first to attract foreign investments and the second to develop Omanis professionally to fit the globalized economy and make the best of the gig economy.

Both are significantly expected to create a huge number of jobs as well

as entrepreneurship opportunities for Omanis and dramatically boost Oman’s economy. The greatest conclusion we have arrived to is while the industrial age was not in favor of Oman’s economy, the knowledge age is completely in our favor. Most of these radical changes taking

INSPIRING JOB GROWTH AND Global Investment in Oman

Abbas Al Humaid Managing Partner, Mazars Oman

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the important factors which should be considered before investing in Oman.

3. It is understood that conducting business across borders involves challenges and complex decisions, and this could be one of the main reasons behind investors reluctance in investing into new countries. To encourage them and provide them with knowledge and comfort we at Mazars in Oman offer our global clients a new line of services called “Invest in Oman.” These services are driven from one of Mazars group main lines of business globally. i.e. Outsourcing & Accounting.

Under this umbrella we offer a full gamut of services such as:Passive Nominee Resident Shareholder; Company & Tax Registration, Consultation and Execution; Finding Office Premises; Cultural Orientation; Employee Immigration Visas; Staff Recruitment/ Head Hunting; Maintenance of the Omanisation Plan; Employee Payroll; Monthly Bookkeeping and Accounting; and Corporate Tax Returns.

4. We have assigned a full fledge team made of 5 members to manage these services under my direct leadership. In this context, we have appointed a qualified Omani employee (Mr. Hassan Al-Lawati) to take over the executive management of this activity.

5. Made available all these

information and marketing materials (the video and the book) for free at our local website www.mazars.om/Invest-in-Oman in both languages Arabic and English. In this way, they can be easily used by any interested party in calling FDIs to Oman, and for easy communication with us for any support we can offer.

6. We promote Oman as an attractive investment destination for globally through paid and unpaid social media channels, our websites, our global social network, according to a well-structured marketing plan.

STRATEGIZE YOUR BUSINESS

However, the story doesn’t stop here. There is a significant hidden risk that if we don’t manage well right away, we will struggle to unlock the potential value of the FDIs! i.e. the radical changes that we referred to.

These continuous, radical and dramatic changes have disrupted many long-held assumptions and practices and altered the rules of the game for all businesses. Hence periodic and ongoing reviews of strategy and business model have become a vital task for small and large businesses and organizations alike. Those that neglect to do this soon find themselves out of the game, regardless of how great their initial potential for

success is.

This risk puts us again, as a firm committed to the growth of the Omani business community, against our responsibility to offer the solution for the local business community. Thus, we launched our third line of services in Oman, strategic and management consultancies, at both theoretical as well as practical levels, where we put our hand in the hands of our clients to enable them to succeed, either through a project management or a shadow management.

Helping our clients to identify their strategic destination, conduct analysis, develop strategic planning, manage

implementation, understand and design value proposition, develop business model, prepare feasibility studies, develop business plans, design investment pitch deck, develop marketing strategy or human resources strategy conduct management consultancy, are all samples of what we offer to the local community to empower them to succeed.

Driven from our social responsibility, we have offer them a free series of bilingual (Arabic and English) videos “Strategize Your Business” of 1 to 2 minutes each as well as a free bilingual informative “Strategize Your Business” booklet at our website www.mazars.om/Strategize-Your-Business.

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Furthermore, we offer Omani companies that have more than 10 employee’s free hardcopies of our bilingual “Strategize Your Business” booklet. These resources give decision makers specific tips on how to strategize their business, as well as some of the latest related business concepts.

DEVELOPING OMANIS FOR THE GIG ECONOMY

That was about the first game changer (attracting the FDIs). The way this first game changer works is by pumping money in terms of investments into the local business community, which ultimately creates jobs and entrepreneurship opportunities. However, the second game changer works the way around. Developing Omanis professionally to fit the globalized economy and make the best of the gig economy will create a huge number of jobs and entrepreneurship opportunities and ultimately boost dramatically Oman’s economy. This is what we will be targeting in our next milestone in alliance with interested government and private sectors bodies.

Abbas, partner at Mazars Group, is a strategist, management consultant, auditor and author, who is mainly concerned about the human being development at the universal level. He is inspired in his life by enabling others, whether individual or organizations, to succeed. He has supported many

organizations to successes, helping them achieve their potentials strategically and operationally. He has also contributed to raising the capabilities of thousands of individuals both at the professional level and in the general humanitarian field through his books, lectures, special sessions and the development of their Institutional capacity.

He published 6 books and many articles (can be found at his personal website www.alhumaid.org that aimed at providing support and guidance to individuals, communities and institutions to enable them to make positive, conscious and purposeful practical changes that make their lives better, more secure and happier.

His books have been highly appreciated by many independent professionals and thinkers of various intellectual orientations and religious affiliations around the world.