Download or read book The Report Oman 2015 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2015-01-21 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: As with most of its neighbours in the GCC region, oil and gas remains a significant contributor to Oman’s economy, accounting for around 50% of GDP. While the recent slump in oil prices is a concern, increased investment in enhanced oil recovery techniques in recent times has attempted to make up for this decline, with supply increasing as a result. Meanwhile, Oman’s industrial sector, particularly the petrochemicals segment, is poised for large expansion with ongoing investment in downstream infrastructure and new facilities in the pipeline for the Sohar and Salalah industrial regions expected to contribute significantly to output before 2020. Added to this is the rapid development of Oman’s ports, rail and airports, which is expected to drive its reputation as a regional logistics hub while developing the tourism sector, which is considered as key moving forward.

Download or read book The Food of Oman written by Felicia Campbell and published by Andrews McMeel Publishing. This book was released on 2015-10-13 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the Arabian Gulf, just east of Saudi Arabia and across the sea from Iran, the kitchens of Oman are filled with the enticing, mysterious aroma of a spice bazaar: musky black limes, earthy cloves, warming cinnamon, cumin, and coriander all play against the comforting scent of simmering basmati rice. Beyond these kitchens, the rocky crags of Jabal Akhdar tower, palm trees sway along the coast of Salalah, sand dunes ripple across Sharqiyah, and the calls to prayer echo from minarets throughout urban Muscat. In The Food of Oman, American food writer Felicia Campbell invites readers to journey with her into home kitchens, beachside barbeques, royal weddings, and humble teashops. Discover with her the incredible diversity of flavors and cultures in the tiny Sultanate of Oman. Omani cuisine is rooted in a Bedouin culture of hospitality—using whatever is on hand to feed a wandering stranger or a crowd of friends—and is infused with the rich bounty of interloping seafarers and overland Arabian caravan traders who, over the centuries, brought with them the flavors of East Africa, Persia, Asia, and beyond. In Oman, familiar ingredients mingle in exciting new ways: Zanzibari biryani is scented with rosewater and cloves, seafood soup is enlivened with hot red pepper and turmeric, green bananas are spiked with lime, green chili, and coconut. The recipes in The Food of Oman offer cooks a new world of flavors, techniques, and inspiration, while the lush photography and fascinating stories provide an introduction to the culture of a people whose adventurous palates and deep love of feeding and being fed gave rise to this unparalleled cuisine.

Download or read book The Report Oman 2016 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2016-01-12 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oman’s GDP grew 4.6% between 2013 and 2014 according to the Oman Central Bank, with hydrocarbons the main driver of the economy at almost 50% of GDP. Although the dip in oil prices has put pressure on government revenues, authorities are pressing ahead with spending plans for the sector, particularly in the downstream segment. The country’s infrastructure expansion plans are also moving forward, particularly at the country’s three ports as the country seeks to leverage its strategic position on the Strait of Hormuz and establish itself as a global transport and logistics hub. Feeding off this development drive are the sultanate’s banks, with project finance regarded as one of the most promising areas for lending growth. In the longer term, Oman Vision 2020 seeks to boost private sector participation in the economy and fuel SME growth in key sectors, including construction, retail, tourism and transport.

Download or read book The Report Oman 2017 written by and published by Oxford Business Group. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Oman’s economy contracted by 13.8% in nominal terms in 2015 as the ongoing low oil price environment squeezed growth and led to the largest budget deficit in over a decade. In a bid to tackle the shortfall the government is taking a number of revenue-raising measures such as cutting subsidies and increasing corporation tax, while remaining focused on its long-term diversification goals. Though hydrocarbons still account for 33.9% of GDP and 78.7% of state revenues, non-oil sectors are playing an increasingly prominent role in the country’s economic profile. Authorities are targeting heavy industries in particular with plans to boost their GDP contribution to from 19.8% today to 29% by 2020. Meanwhile annual growth of 6% is being targeted in the mining sector, with a host of regulatory initiatives being implemented as the government seeks to boost investor interest. Start reading

Download or read book The Economics of Renewable Energy in the Gulf written by Hisham M. Akhonbay and published by Routledge. This book was released on 2018-09-27 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Cooperation Council for the Arab States of the Gulf (GCC) has been at the epicenter of global energy markets because of its substantial endowment of hydrocarbons. Yet countries in the region have also stated their intent to be global leaders in renewable energy. This collection explores the drivers for the widespread adoption of renewable energy around the GCC, the need for renewable energy and the policy-economic factors that can create success. All six countries within the GCC have plans to include renewable energy power generation in their energy mix for various reasons including: a growing demand for electricity because of increasing populations, an increasing government fiscal deficit due to inefficient subsidies, the need to diversify the economy and global pressure to meet climate change requirements. However, the decision of when and by how much to introduce renewable energy is fraught with complications. In this book, a stellar cast of regional policy and academic experts explore the reasons behind these renewable energy plans and the potential impediments to success, whether it be the declining cost of producing energy from hydrocarbons, an infrastructure which needs to be updated, social acceptance, lack of financing and even harsh weather. Weighing up all these factors, the book considers the route forward for renewable energy in the Gulf region. The Economics of Renewable Energy in the Gulf offers an excellent examination of the adoption of renewable energy in the area. It will be of great interest to academic researchers and policy makers alike, particularly those working in the areas of energy economics, public policy and international relations.

Download or read book Overtourism and Cruise Tourism in Emerging Destinations on the Arabian Peninsula written by Manuela Gutberlet and published by Taylor & Francis. This book was released on 2023-07-31 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cruise tourism is one of the fastest growing sectors worldwide. This book is the first of its kind to provide in-depth insights into the emergence of mega-cruise tourism in destinations on the Arabian Peninsula and its impacts on local communities, their spaces, cultures, identities and tourist experiences. It offers a micro-sociological analysis, calling for holistic, participatory, mindful approaches and to rethink current exploitative tourism planning and development. It assumes a high political, social and economic importance within globalization. It draws on a long-term field study in an under-researched region in Asia that developed large-scale tourism recently to diversify the economy. The book provides insights on the destination development from a state of continuous growth to a sudden fall in tourism activities due to a sudden shock, caused by the global health pandemic and its resilience. It explores the sociocultural, economic and spatial challenges faced in international tourism development and its power relations analysed from different perspectives and within time. It analyses time-space compression, overtourism, urban tourism, nature-based tourism, enclavization, social capital, imaginaries, Cultural Ecosystem Services, slow tourism as well as just tourism. The book provides an innovative contribution to the planning and development of tourism destinations, communities and their spaces in which tourism operates in a fast pace. It will be of interest to academics, undergraduate and postgraduate students in the field of tourism and hospitality management, geography, sociology, anthropology, urban planning and environmental sciences. Moreover, the book will be useful for practitioners and policymakers around the globe, as well as all those interested in the fast emergence and the impacts of mega-cruise tourism.

Download or read book The Report Oman 2014 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2014-01-15 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sultanate’s economy continues to enjoy the benefits of petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. However, planning is well under way for an era in which oil will not be the main economic driver, with the twin goals of diversification and creating an increased number of private sector jobs at the top of the government’s current agenda. Indeed, in recent years, the non-OPEC oil exporter’s economy has been undergoing a steady transformation, reorienting from oil toward a more diverse set of service and industry-based economic activities. So far, progress has been promising. In 2011 oil and gas accounted for 38.8% of GDP. With the continuation of higher-than-expected energy prices in 2012, the government has increased economic investments accordingly. These investments, which include infrastructure, social programmes and small-business development, are aimed toward better preparing the country for its post-fossil fuel future.

Download or read book The Report Kuwait 2016 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2016-09-16 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Home to the largest per capita reserves and fourth-largest total reserves of crude oil within OPEC, Kuwait’s public finances have suffered in 2016 following the rapid decline in oil prices, which drove oil revenues down from $108.6bn in 2013 to $51.8bn in 2015. Despite this Kuwait has resisted significant budgetary cutbacks: spending levels in 2016 were cut by just 1.6%, and the considerable financial buffers built up from budget surpluses in the years leading up to 2014 are expected to cushion the budget deficit. The country continues to push ahead with key public investments, with Parliament allocating $155bn to the Kuwait Development Plan 2015-20 to fund infrastructure, utilities and housing developments. The plan focuses on further integrating the private sector into areas of the economy traditionally under state control and aims to raise the non-oil sector’s GDP contribution to 64% in 2015-20, up from an average of 45.1% in 2010-13. Elsewhere promising moves are being made to cut state subsidies, with the government opting to liberalise diesel and kerosene prices and reduce subsidies on aviation fuel in January 2015, generating savings equal to 0.3% of GDP.

Download or read book Encyclopedia of Mineral and Energy Policy written by Günter Tiess and published by Springer Nature. This book was released on 2023-07-14 with total page 862 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Encyclopedia provides a cutting-edge, up-to-date reference source on mineral and energy policies around the world. It offers information on GDP, population, investment scenarios and current environmental regulations in over one hundred thirty countries from 13 geographic regions around the world. It covers topics such as geo-conservation, deep mining technology as well as rare earth, green technology and international organizations that are actively involved in minerals and energy through exploration, arbitration, marketing and investment. Topical entries are presented alphabetically with extensive cross-referencing to ensure user-friendly reading. This Encyclopedia presents the work of more than 20 section editors and more than 100 international experts in the fields of mineral and energy policies. It is designed as a essential resource for researchers, students, libraries, industry, governments, and international organizations and presents a wealth of insights and guidance for corporate planning regarding exploration and financial investments, as well as for venture capitalist and international funding bodies. As such, it provides an indispensable point of reference for future research on mineral and energy policy.

Download or read book Oman Reform Security and U S Policy written by Congressional Research Service and published by Independently Published. This book was released on 2019-01-21 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Sultanate of Oman has been a strategic ally of the United States since 1980, when it became the first Persian Gulf state to sign a formal accord permitting the U.S. military to use its facilities. Oman has hosted U.S. forces during every U.S. military operation in the region since then, and it is a partner in U.S. efforts to counter regional terrorism and related threats. Oman's ties to the United States are unlikely to loosen even after its ailing leader, Sultan Qaboos bin Sa'id Al Said, leaves the scene. Qaboos underwent cancer treatment abroad for nearly a year during 2014-2015, and appears in public rarely, fueling speculation about succession. Although appearing frail, he hosted the surprise visit by Israeli Prime Minister Benjamin Netanyahu on October 25, 2018, the first such visit by Israeli leadership to Oman in more than 20 years. Within the region, Oman has tended to avoid joining its Gulf allies of the Gulf Cooperation Council (GCC: Saudi Arabia, Kuwait, UAE, Bahrain, Qatar, and Oman) in regional interventions, instead attempting to mediate regional conflicts. Oman joined the U.S.-led coalition against the Islamic State organization, but it did not send forces to that effort, nor did it support groups fighting Syrian President Bashar Al Asad's regime. It refrained from joining a Saudi-led regional counterterrorism alliance until a year after that group was formed in December 2015, and Oman opposed the June 2017 Saudi/UAE isolation of Qatar. Oman also has historically asserted that engaging Iran is the optimal strategy to reduce the potential threat from that country. It was the only GCC state not to downgrade its relations with Iran in connection with a January 2016 Saudi-Iran dispute. Oman's ties to Iran have enabled it to broker agreements between the United States and Iran, including the release of U.S. citizens held by Iran as well as U.S.-Iran direct talks that later produced the July 14, 2015, nuclear agreement between Iran and the international community (Joint Comprehensive Plan of Action, JCPOA). Yet, U.S. officials credit Oman with enforcing reimposed U.S. sanctions as of 2018 and with taking steps to block Iran's efforts to ship weapons across Oman's borders to Houthi rebels in Yemen. Prior to the 2011 wave of Middle East unrest, the United States consistently praised Sultan Qaboos for gradually opening the political process even in the absence of evident public pressure to do so. The liberalization allows Omanis a measure of representation, but does not significantly limit Qaboos's role as paramount decisionmaker. The apparent public thirst for additional political reform-as well as the inadequate employment opportunities-produced protests in several Omani cities for much of 2011, and for two weeks in January 2018, but the popularity of Qaboos and government commitments to create jobs helped prevent more sustained unrest. Oman has followed policies similar to the other GCC states since 2011 by increasing press censorship and arresting critics of the government who use social media. The periodic economy-driven unrest demonstrates that Oman is having difficulty coping with the decline in the price of crude oil since mid-2014. Oman's economy and workforce has always been somewhat more diversified than some of the other GCC states, but Oman has only a modest financial cushion to invest in projects that can further diversify its revenue sources. The U.S.-Oman free trade agreement (FTA) was intended to facilitate Oman's access to the large U.S. economy and accelerate Oman's efforts to diversify. Oman receives minimal amounts of U.S. security assistance, and no economic aid.

Download or read book A Quiet Revolution written by Nick Forster and published by Cambridge University Press. This book was released on 2017-09-07 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: An irreversible transformation is taking place in the lives of many thousands of university educated professional women in the United Arab Emirates, Oman and the Kingdom of Saudi Arabia. Drawing on eight years' participative research and extensive secondary sources, Nick Forster introduces the first extensive study to document this development in the Middle East. This book documents the emerging economic and political power of women, and how they are beginning to challenge ancient and deeply-held beliefs about the 'correct' roles of men and women in conservative Islamic societies, and in public and private sector organisations. It also describes the vital role that women could play in the economic development and diversification of these countries, and the broader MENA region, in the future. It is an essential read for professionals, scholars and students, in fields as diverse as economic development, international management, gender studies, and Middle Eastern studies.

Download or read book Developing Entrepreneurial Ecosystems in Academia written by Tunio, Muhammad Nawaz and published by IGI Global. This book was released on 2021-11-01 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic challenges are becoming very difficult to manage throughout the world, and entrepreneurship can play a key role in handling these new realities. Due to this, academic institutions must update their study programs and knowledge, modernize their curricula, and integrate research activities in their degree programs that encompass topics about and related to entrepreneurship. Developing Entrepreneurial Ecosystems in Academia provides implications, best practices, and approaches for countries to improve their economic systems using entrepreneurship and increasing entrepreneurial education. As the world population is expanding and resources are shrinking, it creates a challenging environment for people in low-income and transition economies, as well as developed countries. This book discusses entrepreneurship and entrepreneurial education as a potential solution and critical concept. Covering a range of topics such as financial education and entrepreneurial management, it is ideal for instructors, academicians, researchers, practitioners, business professionals, policymakers, and students.

Download or read book Oman Investment Climate Statement 2015 written by United States United States Department of State and published by Createspace Independent Publishing Platform. This book was released on 2016-03-24 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oman, officially known as the Sultanate of Oman is located in the southeastern coast of the Arabian Peninsula. Oman is an absolute monarchy, governed since 1970 by Sultan Qaboos bin Said. Overall, Oman's investment climate is conducive to U.S. investment. Omani officials and businesspeople generally value U.S. technology, skills, and expertise in a wide range of fields, count on U.S. firms' reputation for reliable, transparent business practices, and are keen to leverage U.S. business models, corporate values, and entrepreneurial culture in order to take advantage of the United States-Oman Free Trade Agreement (FTA). The FTA generates new opportunities for U.S. goods and services providers by providing a series of guarantees such as; duty exemptions, national treatment, non-discrimination in government procurement and the protection of intellectual property rights. However, persistent lack of compliance with duty exemptions guaranteed under Article 4 of the FTA, on the part of Omani Customs, as well as the imposition of a new Ministry of Oil and Gas program called In-Country Value, which as of January 1, 2014, requires local sourcing in the oil and gas sector. In addition, Omanization policy mandates which are aimed at replacing expatriate workers with local hires, and scarcity of gas for new manufacturing projects pose barriers for U.S. investment. Advantages of investing in Oman include: Oman's business-friendly environment, including the United States-Oman Free Trade Agreement; a modern business law framework; respect for free markets, contract sanctity and respect of property rights; relatively low taxes; and a one-stop-shop at the Ministry of Commerce and Industry for business registration; An educated and largely bilingual Omani work force; Quality of life: Oman is a safe, modern, friendly, and scenic country, with highly-ranked international schools, widely-available consumer goods, modern infrastructure, and a convenient and growing transportation network; Oman's geographic location, just outside the Persian Gulf and the Strait of Hormuz, along busy shipping lanes carrying a significant share of the world's maritime commercial traffic, with convenient access and connections to the Gulf, Africa, and the subcontinent; The steady and ambitious investment by the Government of Oman (GoO) in the country's infrastructure, including manufacturing free zones, seaports, airports, rail, and roads, as well as in its health care and educational systems and facilities. Foreign investment is rising in Oman as international firms recognize the growing opportunities related to the Sultanate's massive infrastructure investment program as well as increased efforts to diversify away from oil and gas, particularly with low world oil prices in late 2014 and early 2015. Non-oil economic growth stood at 8 percent last year, reflecting major infrastructure-related activity and the Sultanate's success in promoting downstream manufacturing in its free zones. Real GDP is expected to grow by 4 percent in 2014 and 4.5 percent in 2015, driven by a strong non-oil performance averaging 7 percent over the forecast period as the government's diversification ambitions, focusing on the tourism, industrial and manufacturing sectors, begin to have an impact. While declining world oil prices have not yet negatively affected Oman's GDP growth rate and while the GoO has publicly remained committed to continuing spending on existing infrastructure projects and other investments, realistically, continued depressed world oil prices could cause the government to become more conservative in their future spending on government-sponsored projects.

Download or read book Houseways in Southern Oman written by Marielle Risse and published by Taylor & Francis. This book was released on 2022-12-30 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores how houses are created, maintained and conceptualized in southern Oman. Based on long-term research in the Dhofar region, it draws on anthropology, sociology, urban studies and architectural history. The chapters consider physical and functional aspects, including regulations governing land use, factors in siting houses, architectural styles and norms for interior and exterior decorating. The volume also reflects on cultural expectations regarding how and when rooms are used and issues such as safety, privacy, social connectedness and ease of movement. Houses and residential areas are situated within the fabric of towns, comparison is made with housing in other countries in the Arabian peninsula, and consideration is given to notions of the ‘Islamic city’ and the ‘Islamic house’. The book is valuable reading for scholars interested in the Middle East and the built environment.

Download or read book The Report Abu Dhabi 2016 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2016-05-09 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Subdued oil prices prompted a trimmed federal budget for 2016 as the UAE, like other countries in the region, tightened its belt in response to falling hydrocarbons revenues. However, a sustained focus on economic diversification and targeted investment in Abu Dhabi’s key non-oil sectors in recent years means the emirate is well positioned to weather the storm. Looking forward, plans for future development are mapped out in Abu Dhabi Economic Vision 2030, a comprehensive economic policy document that aims to reduce dependence on oil and gas, thereby creating a more sustainable knowledge-based economy for the emirate and its inhabitants. Aided by hydrocarbons reserves that are among the world’s largest and substantial financial resources, Abu Dhabi has built up a strong foundation to become a regional leader and an increasingly important global player in a wide variety of sectors, including oil and gas, financial services, health care, aviation and renewable energy.

Download or read book Handbook Of Banking And Finance In The Mena Region written by Khaled Hussainey and published by World Scientific. This book was released on 2024-03-19 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to World Bank (2021), the economic recovery post-COVID-19 in the Middle East and North Africa (MENA) has been uneven and tumultuous. Reasons for this include exposure to oil-price fluctuations, the impact of pandemic, public demonstrations, and political instability. Although the MENA region encompasses a variety of countries — wealthy, stable and oil-rich countries such as Saudi Arabia and Qatar as well as less secure countries such as Iraq and Syria — it plays an important role in the global economy.Handbook of Banking and Finance in the MENA Region explores the trends in finance and banking of the MENA region, including theoretical and empirical perspectives from researchers around the globe. The first part of the book explores numerous reforms in the region's banking and finance, including digital technology, financial technology (fintech) and green finance. While financial inclusion in the Gulf Cooperation Council is much higher, the other countries in the MENA region have yet to overcome this trend, and the second part of the book provides specific case studies of ways in which banks have contributed to the region. The final section of the book considers macroeconomic factors and financial development. Together these perspectives enrich the discussion of facts and development challenges in the finance and banking of the MENA region as a whole.

Download or read book Oman written by Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2017-01-17 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Sultanate of Oman has been a strategic ally of the United States since 1980, when it became the first of the Persian Gulf monarchies to formally allow the U.S. military to use bases there. The facilities access accord represented a long-term Omani shift from reliance on Britain for its security, although Oman continues to maintain close military ties to Britain. Oman has hosted U.S. forces during every U.S. military operation in and around the Gulf since then, and it is a partner in U.S. efforts to counter the transit of terrorists through regional waterways. Oman has consistently supported U.S. Middle East peacemaking efforts by publicly endorsing peace agreements reached and meeting with Israeli leaders, even when doing so ran counter to the policies of Oman's Gulf state allies. Oman's ties to the United States are unlikely to loosen if its ailing leader, Sultan Qaboos bin Sa'id Al Said, leaves the scene in the near term. He returned to Oman in March 2015 after nearly a year of treatment in Germany, but has rarely appeared in public since, causing rampant speculation about his health and succession issues. Within the region, Oman has tended to avoid joining its Gulf allies of the Gulf Cooperation Council (GCC: Saudi Arabia, Kuwait, UAE, Bahrain, Qatar, and Oman) in direct intervention in regional conflicts. Oman also has historically asserted that engaging Iran is the optimal strategy to reduce the potential threat from that country, and the country maintains close relations with Iran. Oman was the only GCC state not to downgrade its relations with Iran in connection with the Saudi-Iran dispute over the Saudi execution of a Shiite cleric in January 2016. Oman has publicly joined the U.S.-led coalition against the Islamic State organization but it is apparently not participating militarily in those efforts and did not join a Saudi-led broad counterterrorism coalition announced in December 2015. On the other hand, some reports indicate that Iran might be taking advantage of its relationship with Oman to smuggle weapons across Oman's borders to the Houthi rebels in Yemen that Iran is supporting. Oman's ties to Iran has enabled it to broker agreements between the United States and Iran, including the release of U.S. citizens held by Iran. Oman's diplomacy paved the way for U.S.-Iran direct talks that ultimately produced the July 14, 2015 nuclear agreement between Iran and the international community ("Joint Comprehensive Plan of Action" (JCPOA)). Prior to the wave of Middle East unrest that began in 2011, the United States consistently praised Sultan Qaboos for gradually opening the political process even in the absence of evident public pressure to do so. The liberalization allowed Omanis a measure of representation, but did not significantly limit Qaboos's role as paramount decision maker. Modest reform-as well as the country's economic performance-apparently did not satisfy some Omanis, because unprecedented protests took place in several Omani cities for much of 2011. The apparent domestic popularity of Qaboos, coupled with additional economic and political reforms as well as repression of protest actions, caused the unrest to subside in 2012. However, since then, Oman has mimicked the policies of the other GCC states in increasing press censorship and arresting critics who use social media. As are the other GCC states, Oman is attempting to cope with the dramatic fall in the price of crude oil since mid-2014, which has accelerated GCC efforts to try to diversify their economies. Oman's economy and workforce has always been somewhat more diversified than some of the other GCC states, but Oman has only a modest financial cushion to invest in projects that can further diversify its revenue sources. The U.S.-Oman free trade agreement (FTA) was intended to facilitate Oman's access to the large U.S. economy and accelerate Oman's efforts to diversify.