Muscat: The Sultanate of Oman advanced 0.53 points in the field of ‘protecting the competitiveness of the business environment’ in 2023.
This was unveiled in the annual assessment carried out by the UN Economic and Social Commission for Western Asia (ESCWA) on legislative frameworks for the business environment in the 22-state Arab world.
The evaluation was based on specific indicators on identifying the strengths and weaknesses of legislations related to fair practices in the market-like protecting consumer rights, providing a transparent business environment conducive to investors, enhancing corporate governance and enabling strategic reform that contributes to improving the business environment and augmenting economic growth.
The evaluation focuses on legal frameworks and mechanisms for measuring outcomes as a means of classifying countries in the region. Consequently, it improves the analysis of regional trends and ensures a comprehensive assessment of legal structures.
Source: Oman News Agency