Level of Innovation:
The innovation in Oman is lesser as compared with the other counties. Global Innovation Index shows the Oman stands at the 73rd position over the world. The innovation level will be increase gradually in the upcoming years. There is a less import of goods leads them for the less innovation and the government rules and policies which gives the discomfort for the innovation.
Automation is a business choice and not merely a technology choice. The growth of the business is increasing in Oman. In 2011 every company in Oman are came with good technology based. Automation reduced the wastes in optimized the Information technology operations, less complexity leads the automation for sophisticated services, less mistake leads to reduce the human errors. Automations is a fundamental tool for the business in Oman.
R&D activities are gradually increasing in Oman. It shows the steady growing of technological factors in future. The R&D will make the companies to be shine.
Many cities in Oman are getting smarter. Digitalized government service will lead to change in new technologies. But Oman mainly use new technologies in Oil and gas sectors. The growth of industries makes them to use new technologies to compete with their competitors. As compared with the previous year 5.2% the new technologies are used in Oman. The technological changes are mainly used in highly populated cities. The technologies in the town and rural are comparatively less.
The over all rating for the Technological analysis is 4.8/10.
In Oman there is a tropical desert climate so it is mostly sunny over a year with some rainfalls from Mid-November to Mid-January. These types of climate are not suitable for the food cultivation. At the southern part of Oman there is a Dhofar region the climate is cool by altitude the landscape is green and it is suitable for the food cultivation.
There is a tropical cyclone in Oman which brings a torrential rain and strong winds. The natural calamities will occur rarely in Oman. Hence, the climate changing impact won’t affect more the companies in Oman.
Pressure from NGO’s:
NGO are pushing the sustainable development to the international level. Champaign group are the key factor for the inter-government negotiation. They focus on public function and regulatory activities. Global brands have been highly vulnerable to pressure from NGOs excited to challenge a company’s labor, environmental or human rights record. In response to such pressures, many businesses are leaving their narrow Milton Friedmanite shareholder theory of worth in favor of a broader, stakeholder approach which not only pursues improving share value, but cares about how this enlarged value is to be achieved.
Overall rating for the Environmental analysis is 5/10.
The labor law is applicable for all the private sector employees those who have employed by local and foreign companies having the head office at Oman. This law governs with the working hours, employment contract, leave entitlement, Wages, medical coverage, industrial safety rules. It is illegal to emigrant to work without an employer and without visa. As per Oman’s Foreigner residence law for the employee and employer both will be suffer from the risk of monitory Penalties and may include in the jail.
The private sector employees should have employment contract. It consists of name of the parties, date of birth, nationality, job discretion, duration of contract, notice period for termination. employment contract may be for a short time and also for a long-time contract in Oman employment visa should be renewable for the two years period. The law is followed very strict in Oman.
Consumer production law:
This law is applicable for the purchase of products in Oman. The law was promulgated as Royal Decree 81/02 the regulations is issued by Ministerial Decision 49/17. Ministerial Decision 77/2017 came into the effect on 13 March 2017. This law consists of prohibiting of anti-comparative agreements for price fixing, limitation of product, re-sale price maintain and bids.
In Oman first copyright law was approved in the year 1996 by Royal Decree No 47/1996 and then it was later renovated in expectation of Oman’s membership of WTO in 2000. Royal Decree No 37/2000 delivered the second copyright law of Oman, and then in implementation of Oman’s fundamentals to the admission into a Free Trade Agreement with the US, Royal Decree No 65/2008 delivered the third and present Omani copyright law. The laws are strictly followed in Oman.
Contractual patent rights are issues on the basic of the patent of the ownership approval. there is an intellectual property right followed in Oman implemented from 31 Aug 2011.
Healthy and safety law:
Ministerial Decision 286/2008 for the regulation of safety and health in Oman. Health and safety conscious are very premiant in the Oman. The heath and safety law are followed
If a company uses scaffolding for the purpose of building, the scaffolding must be installed by a competent person who shall test them at least once every week and the test must be recorded in a special register maintained for such purpose. Regarding the use of boilers and steam and air stores, the boilers must be tested every 12 months and the steam and air stores every 24 months by a competent technician and a special register shall be maintained to record the date of the test and the technician’s name and remarks.
Regarding the use of chemical substances, a special register shall be opened for hazardous chemical substances to immediately record information related to the safety of their circulation and use and the movement of such substances. Fire devices must also be tested at least once every six months by a specialist and recorded in a special register.
Overall rating for the economic analysis is 7.6/10.
Other important factor analysis:
Strength of Oman:
Oman is relatively untouched by tourist so the experience is genius and crowded. The Oman location which includes all terrains like desert, beach, mountains. Oman is a very safe country for the business. It is a peaceful society in a stable economy. High level of literacy and education among its citizen which mostly comprise of the youth. There is a positive relationship with other countries.
Weakness of Oman:
There is a developing in technologies. The IT infrastructure are comparative less. There is low level of skilled workers in the It and engineering field. There is a large government bureaucracy involved with international development and investment.
Opportunities in Oman:
The economy is forecasted to increases. There is a high rate of adoption for the education and technology in the country.
Threats in Oman:
There is a lack of priority for government initiatives for international organizations. The current government initiatives are not coordinated effectively from a central government office.
The overall rating for the SWOT analysis is 6/10
Oman is one of the great country which is suitable for to extension of the business. As from the overall analysis of the country the political factor, social factor, legal factor in Oman are in a positive aspect. Lack in technologies is only the main problem in Oman. Oman is a very safe country for the business. They have a positive relationship with other countries. The IT infrastructure are comparative less. The economy is forecasted to increases. There is a lack of priority for government initiatives for international organizations. There is a strong rules and laws which maintains the low crime rate and illegal piracies. The business-like grain farming, vegetable farming, haulage business, electronic and home appliances store, facility maintenance company and commodity store are suitable in Oman.