The Sultanate of Oman (Oman) has recently published the implementing regulations (Decision No. 3 of 2020 of the Public Authority for Privatisation and Partnership) (the Implementing Regulations) for Decree No. 52 of 2019 (the PPP Law) regulating the operation of public private partnerships (PPPs) in Oman. This is a key move for the development of Oman's infrastructure in line with the Oman Vision 2040.
Dr. Dhafir Awadh al Shanfari, the Chief Executive Officer of the Omani Authority for Partnership for Development has recently announced that Oman has "49 projects currently in the pipeline" covering a variety of PPP models. These projects will aid Oman’s efforts to set up partnerships between the country’s public and private sectors as the country aims to increase economic efficiency and diversify its economy in order to shield Oman's economy against a potential drop in the price of oil according to the Omani Minister of Finance, HE Darwish Al Balushi.
This article considers the provisions of the PPP Law and the Implementing Regulations and key points to note.
