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Oman

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Editorial

Legal market overview

Following a continued downturn in oil prices, the Omani legal market has seen an increase in dispute resolution and company liquidation matters, particularly in the construction sector, which has seen several government-funded projects put on hold. Additionally, banks have experienced reduced liquidity and have therefore been less willing to lend, which has impacted a range of sectors.

The need to diversify Oman's economy has become evident, and the government has tried to combat its heavy reliance on oil revenue by focusing on developments in renewable energy, water projects and infrastructure for logistics. The government's diversification programme has somewhat alleviated the strain of low oil prices, though government funds have been incrementally diverted over the last year to new oil and gas projects. The electricity sector has undergone a spate of privatisations.

The Omani legal market is largely dominated by a number of full-service domestic firms, such as Al Busaidy, Mansoor Jamal & Co, Said Al-Shahry & Partners (SASLO) and Bin Shabib, Al Rashdi & Al Barwani Advocates and Legal Consultants. While foreign firms are not licensed to independently engage in advocacy work, a number of international firms remain active in the Sultanate, including Dentons, Addleshaw Goddard and Trowers & Hamlins LLP.

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