Muscat—Dentons and the Oman American Business Center (OABC) recently partnered to deliver a legal workshop to SME members of the OABC in the Sultanate. The seminar provided SME attendees the opportunity to access legal knowledge and support which they may not typically be afforded.

The OABC was established in 2003 to foster the development of commercial activity between the United States and Oman. OABC membership is open to all nationalities and the organisation currently has 155 member companies, including a number of SMEs.

The joint workshop was designed to provide attendees with basic legal knowledge over a variety of topics which were identified by Dentons as being key to their development. The sessions covered subjects such as legal entities and the basics of doing business in Oman; intellectual property; contracts; and debt financing/private equity. The workshop was followed by a period of networking where the attendees had the opportunity to connect with other SMEs, as well as quiz the presenters on a range of issues they encounter on a day-to-day basis.

Rebecca Olson, executive director of the OABC, said, “The Oman American Business Center was honoured to partner with Dentons for this seminar. Legal issues can often take a back seat when a company is still developing, but it was clear that the attendees placed significant value in ensuring that they were fully appraised of key topics which may affect the development of their respective businesses. Dentons' team answered of all of the members’ questions, offered specific advice on a variety of key topics, and shared vital information for companies both large and small.

"The event also offered our members and guests a chance to connect with each other, which is a key part of any OABC event. As an affiliate of the US Chamber of Commerce, we are always pleased when OABC premium members like Dentons give back to the business community, and especially focus on supporting SMEs, as this group of businesses is an important part of Oman’s growth and future.”

Nick Simpson, Dentons' Managing Partner and Head of Corporate in Muscat, added, "At Dentons, we also recognise the importance of SMEs to the Omani economy and see significant potential for growth in the future."

"We are grateful to the OABC for giving us the opportunity to host this workshop. We hope that the attendees found the sessions useful and are able to use the knowledge they gained to drive their businesses forward and continue to make valuable contributions to the economy of Oman. As a firm, we strongly support Omani SMEs and hope to see them develop in light of Tanfeedh and other initiatives."

About SMEs in Oman

"The national economy of a country is, in fact, based on small and medium industries…these are the fundamentals, the foundations of all national economies."

His Majesty Sultan Qaboos Bin Said al Said made the above statement during a speech in 2013, highlighting the importance of small and medium enterprises (SMEs) in the context of Oman's national economy. The SME sector has become an increasingly significant part of the Sultanate's economy in recent years, currently contributing over twenty percent to the country's GDP. This is expected to increase to more than thirty percent within three years according to the Public Authority for Small and Medium Enterprises Development (Riyada) – a government body tasked with overseeing the development of SMEs in order to ensure the strengthening of their contribution to the local economy through a wide range of business advisory services and training programs.

Over the last few years, SMEs in Oman have greatly benefited from Oman's Partnership for Development Programme (PFD), which actively encourages participants support the growth and sustainability of Oman's SMEs the training and employment for Omani nationals.

About Dentons

Dentons has operated in the Sultanate of Oman for over 36 years and has played an active role in advising international and domestic clients, regardless of size, throughout that period.