The encouragement and mutual protection of investments agreements provide many guarantees for investments, including the freedom of movement of funds, protection against expropriation and nationalization, and facilitating the entry of employees for temporary residency and work.
Dealing with investors
Foreign investors are provided with not less than equal treatment for national investors. As such. investors are given the most-favoured-nation treatment which is not less favourable than foreign investors are in other countries. They are also provided with fair and equitable treatment as well as personal protection and security.
Compensation against losses
In the event of a national emergency such as war or riot under which the investor is granted national treatment, or if the authorities of the host country cause, damage to the investor's property or temporarily seize it, the investor is granted immediate, adequate, and effective compensation.
Easy employee entry
Their key executives and employees who possess unique expertise or skills can obtain visas. residency permit and other work licenses very easily.
Free movement of money
Investors are free to transfer the investment funds to and from the host country in a freely tradable currency.
Protection from arbitrary expropriation and nationalization
Ensuring that the investor's investments are not expropriated or nationalized. except for the public interest provided that it is carried out without discrimination, and in return for fair compensation, and in accordance with the laws in force in the host country.
International arbitration
The investor, who incurs losses because of damage resulting from the host country's breach of one of the provisions of the agreement and fails to reach an amicable settlement, has the right to file a case before the local judiciary or one of the international arbitration centres specified in the agreement.
Challenges
Creating a balance between the state and the investor in terms of rights and obligations as the old generation of agreements does not provide the legal ground for the host country in imposing regulatory measures on investors to achieve public interest in areas such as health, security, environmental protection, and investment policies.
Ensuring harmony and consistency between provisions of the agreement and local laws and legislation, and government policies on investment, taking into account the obligations of the Sultanate arising from its membership to international organizations, and its connection with other agreements.
Follow-up on developments in the field of agreements at the international level, for example, the developments taking place in the World Trade Organization, arbitration rules of the International Center for Settlement of Investment Disputes, and the arbitration rules of the United Nations Commission on International Trade Law, in order to ensure that provisions of the agreement are consistent with these updates.
The lack of statistics on Omani investments outside the Sultanate and their types constitutes a challenge in formulating a definition that covers those investments in the agreements, as well as in identifying the countries that should have priority in signing the agreement with.
Continuous coordination with various authorities within the Sultanate for their feedback on terms of the agreement related to its nature, such as coordination with the Central Bank of Oman regarding measures that may restrict the movement of capital
Dealing with investors
Foreign investors are provided with not less than equal treatment for national investors. As such. investors are given the most-favoured-nation treatment which is not less favourable than foreign investors are in other countries. They are also provided with fair and equitable treatment as well as personal protection and security.
Compensation against losses
In the event of a national emergency such as war or riot under which the investor is granted national treatment, or if the authorities of the host country cause, damage to the investor's property or temporarily seize it, the investor is granted immediate, adequate, and effective compensation.
Easy employee entry
Their key executives and employees who possess unique expertise or skills can obtain visas. residency permit and other work licenses very easily.
Free movement of money
Investors are free to transfer the investment funds to and from the host country in a freely tradable currency.
Protection from arbitrary expropriation and nationalization
Ensuring that the investor's investments are not expropriated or nationalized. except for the public interest provided that it is carried out without discrimination, and in return for fair compensation, and in accordance with the laws in force in the host country.
International arbitration
The investor, who incurs losses because of damage resulting from the host country's breach of one of the provisions of the agreement and fails to reach an amicable settlement, has the right to file a case before the local judiciary or one of the international arbitration centres specified in the agreement.
Challenges
Creating a balance between the state and the investor in terms of rights and obligations as the old generation of agreements does not provide the legal ground for the host country in imposing regulatory measures on investors to achieve public interest in areas such as health, security, environmental protection, and investment policies.
Ensuring harmony and consistency between provisions of the agreement and local laws and legislation, and government policies on investment, taking into account the obligations of the Sultanate arising from its membership to international organizations, and its connection with other agreements.
Follow-up on developments in the field of agreements at the international level, for example, the developments taking place in the World Trade Organization, arbitration rules of the International Center for Settlement of Investment Disputes, and the arbitration rules of the United Nations Commission on International Trade Law, in order to ensure that provisions of the agreement are consistent with these updates.
The lack of statistics on Omani investments outside the Sultanate and their types constitutes a challenge in formulating a definition that covers those investments in the agreements, as well as in identifying the countries that should have priority in signing the agreement with.
Continuous coordination with various authorities within the Sultanate for their feedback on terms of the agreement related to its nature, such as coordination with the Central Bank of Oman regarding measures that may restrict the movement of capital
Source Link: www.omanobserver.om
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