NEWS

TBY partners with PAIPED in Oman

Oman, March 17, 2013—Leading international business and consultancy company The Business Year (TBY) has signed a partnership agreement to publish The Business Year: Oman 2014 with the Public Authority for Investment Promotion and Export Development (PAIPED). The Memorandum of Understanding (MoU) was signed in Muscat by His Highness Sayyid Faisal Bin Turki Al Said, Director General of Marketing and Media at PAIPED, and Betul Cakaloglu, Regional Manager of TBY.

The event marked the official launch of TBY’s first macroeconomic research project on Oman. The report will be released towards the end of 2013 and will be distributed extensively, both locally and internationally.

On the publication’s launch, His Highness Sayyid Faisal Bin Turki Al Said remarked: “We’re excited to have The Business Year join Oman’s growing media community. It’s a publication that has been covering business and economic stories in countries around the world for a number of years. Given their experience of interviewing and working with celebrated and successful entrepreneurs, companies and high-profile policy-makers we’re thrilled to welcome them to the sultanate. Oman already enjoys worldwide recognition among businesses thanks to the outstanding work and achievements of PAIPED. Hopefully, The Business Year will help us build and expand upon that awareness in boardrooms and amongst senior decision makers both regionally and internationally. Indeed, it’s my job and that of my colleagues to influence the plans of chairmen and chief executives considering expansion and or relocation to the Gulf and attract more talent, jobs and investment to Oman.”

The Business Year is a leading international publisher of annual periodicals on countries and economies around the world. Betul Cakaloglu, Regional Director for TBY, commented:We are hugely excited about this new project in Oman and are delighted to be working together with our partner PAIPED to promote Oman’s broad variety of investment opportunities and bright economic prospects. This support from such an important government-run authority will be integral to producing a comprehensive and market-leading review of the Omani economy.”

The publication will investigate the economic climate and investment opportunities in Oman, examining through in-depth sector analysis the country’s growth markets and business trends. In order to provide an accurate appraisal of Oman’s economy, TBY shall be meeting and interviewing over 200 top executives and government ministers, to understand better and to reflect more accurately the business sentiment in the country. These interviews will be featured alongside expert analysis of each sector as well as submissions from guest speakers including international figures commenting on Oman’s economic growth. The Business Year: Oman 2014 will be the most comprehensive English-language review of the economy published internationally to date.

TBY’s business intelligence reviews have been acclaimed by top executives, policy makers, and international media all around the world, including representatives from the World Bank, the World Trade Organization, the World Economic Forum, the International Finance Corporation, and the Asian Development Bank.

Oman has benefitted enormously in recent years from revenues stemming from its oil industry, but with the government’s long-term national economic strategy, Vision 2020, the country is increasing recognised for its rapidly diversifying economy. In response to dwindling national reserves of crude oil, Vision 2020 aims to reduce oil’s contribution to GDP to 9% in 2020 compared with 41% in 2009. This will provide a sustainable future for the country, based on increasing activity in key sectors such industry and tourism, and greater exploitation of gas reserves. This is underpinned by huge state investment in the nation’s infrastructure, constructing new roads, airports, railways and ports. TBY aims to showcase the opportunities this expanding economy presents through the ideas and opinions of the country’s top business and political leaders.

PAIPED

The Public Authority for Investment Promotion and Export Development was founded by Royal Decree in 1997 to facilitate investment in Oman and develop the export of Omani products and services. PAIPED works closely with all government agencies to ensure Oman’s competitiveness as the best place to conduct business. With its global network of representatives, PAIPED has the reach to assist any business established in Oman grow in the international market.

PAIPED provides information on Oman’s investment climate, laws, procedures as well as project specific information for investors and Omani exporters. It also organises regular, high-profile B-2-B events to promote Oman’s global business offer.