Thursday 25 / April / 2024
Muscat: The recent decision by His Majesty Sultan Haitham bin Tarik to set up Oman Sustainability Centre and declare 2050 as the deadline for net zero carbon emission by the Sultanate of Oman is a “huge step in the right direction.”
Experts and businessmen have also welcomed His Majesty’s stamp of approval to the new labour law that is expected to boost investment in the country.
Speaking to Times of Oman, Dr. Abdullah Al Amri, Chairman of the Environment Authority (EA), said: “Oman, as per the Paris Agreement, is committed to reducing carbon emission in the country. We are serious in our efforts to save the global environment. Global warming is affecting the world and the decision to make Oman a net zero carbon emission country by 2050 is a step in the right direction. We are already focusing on renewable energy projects in Oman.”
He added: “Most countries have chosen the year 2050 for carbon neutrality, including the Sultanate of Oman and, we will strive to achieve this and ensure that we reach our goal.”
Alkesh Joshi, Partner, MENA Energy & Sustainability Tax Leader at EY, said: “Oman’s commitment to net zero emissions by 2050 is a huge step in the right direction as it also aligns well with the Paris Agreement in reducing carbon emissions and hopefully stop the earth from overheating.
“This really means that we will have to find ways to reach negative emissions. One of the many ways to achieve this is by way of having lots of trees around.
“The European Commission countries have already begun with legislations to achieve net zero emission by 2050. Some of them have already put in place plans to achieve net zero emissions earlier than 2050. “This commitment of Oman to become net zero emitter by 2050 will create a whole host of career opportunities for our young people. Our commitments will also ensure that we continue to have access to the green funding sources as well.”
As part of Royal attention to improve environment performance and alleviate the impact of climate change, a national plan has been drafted, along with the setting up of Oman Sustainability Centre to supervise and follow-up on of zero carbon emission plans and programmes.
His Majesty the Sultan gave directives to all units of the state’s administrative apparatus to cooperate and ensure the success of this national plan.
On the new labour law, which will come into force soon, Joshi said: “It is an excellent step and has been expected for a while. The provisions of the new labour law are expected to be people and employer friendly. We will have to wait for the finer details to be made available. The law is expected to protect the interests of employees and employers. This step will surely contribute towards an improvement in the ease of doing business rankings for Oman.”
Redha Mehdi Al Lawati, a Muscat-based businessman, said the new labour law is eagerly awaited.
“This law is being eagerly awaited including companies, institutions, citizens, businessmen, workers and job seekers. We hope that all the features of the law will take into account the rights of citizens, companies and institutions. I hope the law will boost investments in the Sultanate.”
He added: “His Majesty Sultan Haitham’s address to the Council of Ministers last week was important and his comments on the labour law were among the major highlights. We know that one of the main attractions for foreign investors is a friendly labour law of a country. Oman has a huge potential to bring in investment in the oil, tourism and infrastructure sectors.”
Al Lawati said: “The current labour law doesn’t differentiate between an owner who has invested OMR100 million or OMR10,000. This is unfair as entrepreneurs who have made huge investments will naturally expect more from the government with regard to the labour situation in their company.”
Al Lawati hopes that the new labour law will be in line with Oman Vision 2040.
“The current labour law is certainly not in line with Oman Vision 2040. In fact, the current law impedes the policies of Oman Vision 2040. I hope with the new labour law coming into force, the situation would be more conducive to investment opportunities in Oman.”
Another expatriate investor, Manoj Didwania, said: “The new labour law reforms are the need of the hour and they would complement Oman’s 2040 Vision of ‘Sustained Prosperity’. We expect that skills and performance-based remunerations will be emphasized in the new law.
“This would not only ease the obligations from the existing businesses but certainly encourage new ventures from across the world. Omani youth are ambitious and would certainly take up the opportunities and meet the challenges as enshrined in the proposed new labour law.”
