Book an appointment with us, or search the directory to find the right lawyer for you directly through the app.Find out more
Welcome to the latest edition of Law Update titled “Rise of Generative AI.”
In this edition, we dive into the dynamic world of Technology, Media, and Telecommunications (TMT) across the Middle East and North Africa (MENA) region. TMT continues to play a vital role in positioning the region as an international business and social hub, driving significant growth and innovation.
Our focus in this Law Update is on the sector’s ongoing potential to advance and propel the region toward a more digital economy. We explore the benefits of embracing a digital transformation and how local authorities have responded by enhancing regulations to accommodate the evolving TMT landscape.
This edition covers a range of topics, including – the new Telecommunications & Information Technology Law in Saudi Arabia, the intricacies of trademarks in the Metaverse, and the legal challenges faced by the video game industry. Additionally, we take a regional perspective, discussing jurisdictions such as Kuwait, Saudi Arabia, UAE, Oman, and Bahrain to provide a comprehensive understanding of the TMT landscape.
We hope you thoroughly enjoy this packed issue of Law Update, filled with captivating articles that address key legal issues within a vital sector for the region.Read the full edition
Arif Mawany - Head of Corporate Commercial - Oman - Commercial / Corporate / Mergers and Acquisitions / Capital Markets
Oman’s Ministry of Commerce and Industry is in the latter stages of implementing a new foreign investment law which was drafted with consultation from the World Bank. The stated purpose of the new law is clear: attract a greater variety of global investors to the Omani economy.
While still in draft form and subject to final review by the legislative and administrative bodies, if the new law is approved in its current form it is likely to contain provisions which achieve the following:
Key Sectors to Benefit
The new law, if passed, will resonate positively with global investors and provide additional encouragement to capitalise on a market where transparency and ease of doing business have improved considerably in recent years, according to figures collected by independent bodies.
With a population that grew by 8 percent between the end of 2014 and September 2015, demand for financial services, tourism, hospitality, manufacturing, and healthcare is poised for rapid growth as Oman makes strides towards its Vision 2020 programme of economic diversification.
Once approved, the new foreign investment law could dovetail well with the proposed new law on the mining of Oman’s rich reserves of metals and minerals as investors look towards the start of the next upturn in the commodities cycle.
A further update will be issued later this year once the new law has been ratified and passed.
To learn more about our services and get the latest legal insights from across the Middle East and North Africa region, click on the link below.