October 2018

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Members of the Oman American Business Center were invited to a sneak peek of the newly renovated Al Bustan Palace on October 22nd.  The tour divided members into several groups and highlighted the brand new lagoon rooms and new features of the hotel.  Drinks and canapés were enjoyed during a special indoor and outdoor networking time at the Beach Pavilion, which features an expanded deck area.  General Manager Katrin Herz welcomed members and explained the new activities, weekly events and ongoing benefits for residents of Oman looking for relaxation or luxury ‘staycations’.

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This September, U.S. Chamber’s Middle East team worked very closely with the Oman American Business Center to revitalize this important organization in Oman which serves as the AmCham and the bridge between the two business communities. During the visit, Steve Lutes, Vice President of Middle East Affairs at the U.S. Chamber of Commerce, met with many key leaders to discuss ways to strenghten the U.S.-Oman business relationship, including Ministry of Commerce & Industry Undersecretary Al-Dheeb; the Head of the Public Authority for Investment Promotion and Export Development; and leadership from the Oman Chamber of Commerce and Industry and the U.S. Embassy in Muscat. In addition, the U.S. Chamber was proud to partner with U.S. Embassy Muscat and OABC to host a networking session with OABC’s members, which provided a timely opportunity for a discussion on the administration’s trade agenda.

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Pictured: Oman Ministry of Commerce & Industry Undersecretary Ahmed Hassan Al-Dheeb; Steve Lutes, U.S. Chamber of Commerce; Andrew Barwig, Economic & Commercial Officer, U.S. Embassy Muscat;  and Rebecca Olson, Executive Director, Oman American Business Center. 

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U.S. Chamber, OABC, and U.S. Embassy Muscat representatives meet with Oman Chamber CEO and his team. 

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U.S. Chamber, OABC, and U.S. Embassy Muscat representatives meet with Ithraa’s head of Investment Promotion. 

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Connecting businesses, people, and opportunities through exclusive events, the Oman American Business Center (OABC) hosted its first ever ‘Tech Talk’ in collaboration with Mercedes-Benz Oman. At the event, held at Mercedes-Benz’ flagship showroom in Muscat, CEO Lawrence Good spoke about the leading technologies in autonomous driving and electric vehicles, providing OABC members with a sneak peek into the future of mobility.

Rebecca Olson, Executive Director at the Oman American Business Center said, “Innovation is critical to the success of any company, as is the ability to adapt to changes. For many new technologies entering Oman, it’s not a matter of if, but when. Successful businesses are already getting prepared for what’s to come. At OABC, we provide a forum for the exchange of insights, information, and ideas with the hopes of providing the member companies with real, tangible opportunities for growth.”

Lawrence Good, CEO of Mercedes-Benz Oman said, “Mercedes-Benz is known for its innovation. Pushing the boundaries to create superior vehicles, we are constantly looking at ways to provide drivers with something that is more than just luxurious: a product that is also powerful and beautifully designed. It was a pleasure hosting the OABC members at our showroom and speaking to them about how Mercedes-Benz is looking to the future of mobility, inventing new technologies and making them accessible to everybody.”

On the local front, renewable energy within Oman is gaining traction. Earlier this year the country celebrated the installation of its first ever Electric Vehicle (EV) charging station as part of the Middle East Global Electric Vehicle Road Trip, which showcased EVs as a sustainable solution for drivers and businesses.

From Oman Observer.

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The Oman American Business Center launched the Discover America Festival, a month-long celebration of US foods and products in Oman, at a special networking event sponsored by Lincoln.  Over 150 businesspeople representing companies in every sector, enjoyed fantastic US foods from Lulu Hypermarket and US beverages sponsored by OUA.  US Ambassador Sievers shared about the full month of American-themed activities for the Oman public in October.

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People in Oman can look forward to experiencing and celebrating American cuisine and products through October under the Discover America Festival.

The festival, designed to highlight the strong economic relationship between the US and Oman, has returned for the fourth year. The official launch reception of the Discover America Festival 2018 will be on October 8 at the Hormuz Grand Hotel. The Oman American Business Center (OABC) will host this event for member companies, festival partners, and other VIPs, with special guest H.E. Marc J Sievers, US Ambassador to Oman.

Presented by OABC, in partnership with the US Embassy, the festival will feature over a dozen events, promotions, and activities across Muscat’s hotels and retailers. The event, planned in coordination with the 150-member companies of the OABC, will highlight regional American cuisines at themed events such as a Big American Brunch – ‘Taste of the American South’ – and an evening BBQ event with a movie screening on the beach.

H.E. Sievers expressed his support for the many upcoming events highlighting the strong commercial relationship between the US and Oman. “The Discover America Festival is a celebration of the strong brand recognition US products enjoy in Oman, almost all of which enter duty free under the US-Oman Free Trade Agreement,” he said.

Hotels across Muscat will highlight their American flavours and imported beverages from the US. “Members of the OABC, and especially the hotel members, have been planning very creative and unique events for Discover America,” said Rebecca Olson, executive director, OABC. “Many people don’t realise the variety of cuisines available in the US – we’re proud to help OABC’s member hotels highlight everything from Tex-Mex to Cajun foods this month, and hope the Oman public will come taste the many flavours and delicacies presented.”

After the launch event, promotions and discounts would be available to the public for the rest of the month. Retailers will offer sales and promotions on everything from burgers and ice cream, to scented candles and workout gear, said Rebecca.

“Some hotels have month-long special menus featuring American foods or specialty beverages. And as is true every year of the festival, Lulu Hypermarket will present a large display of US products, showcasing all of the many US brands the store has to offer,” she added. Events, discounts and other initiatives of the festival will be promoted via social media (@oabcoman #discoveramericaoman) and on oabc.org/discoveramerica

From Muscat Daily.

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Oman American Business Center (OABC) in partnership with Ernst & Young (EY) held a seminar to discuss and provide insights on the importance of preparing businesses for the Value Added Tax (VAT) soon to be implemented in the Sultanate.

The seminar welcomed OABC members, Small and Medium Enterprises (SMEs) and business owners. The EY team shared their expertise, while advising the attendees on the challenges companies face to become VAT-compliant.

“Understanding the impact of the imminent VAT tax in Oman is extremely important to every single one of our 150 member companies, from the largest corporations to SMEs,” said Rebecca Olson OABC Executive Director.

As Oman moves towards implementing VAT, EY experts, led by David Stevens and Alkesh Joshi explained various ways and methods on how businesses can ensure they are VAT-ready. They shared a number of strategies regarding VAT implementations, including recommendations for managing VAT compliance, addressing tax costs and how to avoid some of the pitfalls faced by other businesses elsewhere in the Gulf Cooperation Council (GCC). There was an in depth discussion on the role of technology and how managing tax data is likely to be the foremost challenge in a VAT implementation project.

“While VAT is referred as an extra cost to consumers, in a broader sense it will play a crucial role in developing and strengthening a country’s economy in the long-run. It takes time for businesses to be fully compliant and these seminars are a great start to help them understand how to proceed,” said Alkesh Joshi.

Already in effect in the United Arab Emirates and Saudi Arabia, VAT is part of a GCC agreement made in 2016 to implement the tax across the region affecting both consumers and the business community. Whether impacting how businesses purchase their goods, to selling to consumers, the tax is a new regulation for many organisations to familiarise with and prepare for.

From Times of Oman.

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