Latest news with #OmanAmericanBusinessCouncil
Zawya
07-05-2025
- Business
- Zawya
Building Oman's Human + AI Edge: From vision to practical action
As Oman moves toward achieving its Vision 2040 goals, Artificial Intelligence (AI) is not just a technological tool but a national capability that can boost productivity, prepare the workforce, diversify the economy, and strengthen global competitiveness. Oman has long been a nation of bold navigators and early adopters. Historically, its sea-faring pioneers embraced complexity and opportunity with a sense of purpose. Today, that same spirit of fearless and purposeful innovation can guide the nation as it enters the AI era – with strategic clarity, skilled and ready workforce, and execution discipline at the core. The future of AI in Oman lies not in grand but abstract ideas or one-off pilot technology projects, but inpractically harnessing AI capabilities within daily work. The real breakthrough happens when individuals – regardless of technical background – adopt AI to streamline processes, enhance decisions, and free up time. The current wave of AI innovation is a great equaliser. It's intuitive, accessible, and powerful – giving individuals and organisations new ways to work smarter and grow faster. As AI upskilling and adoption expands, so do the possibilities for Omani entrepreneurs to create entirely new business models and community solutions. This is where GDP impact – potentially $1bn or more – can emerge. Making AI real: Focus on human, not hype Last month, Oman American Business Council (OABC) hosted a webinar led by HumanSense Labs and a guest speaker who previously led Microsoft Office AI initiatives. The goal was to demystify AI and put people's minds at ease. The event drew a diverse audience ranging from government representatives to SMEs and General Managers to technologists. That engagement reflected a key insight: Oman is ready for AI! Participants were keen to drive practical outcomes. One leader emphasised the opportunity to use AI to unlock valuable organisational knowledge hidden in documents, especially in Arabic, where AI could bridge information gaps. Another was curious about how to improve prompting skills, a new but critical competency for professionals looking to use AI tools effectively within their daily workflow. A third acknowledged integration challenges across legacy systems, and we emphasised that AI journeys must be business-driven – not treated as typical IT projects. Rebecca Olson, CEO, Oman American Business Council noted, 'Oman has the opportunity to lead not by chasing trends, but by applying AI in ways that are grounded in its people and its priorities. The interest showed by business leaders during our recent session was unmistakable – there's real appetite to move from curiosity to practical action.' Start where you work While AI has existed since the 1950s, today's AI is different: it is practical, intuitive, and accessible even to non-technical professionals. That creates both a powerful opportunity and a navigational challenge: Where do you begin? How do you make AI truly useful? How do you keep pace? The good news: AI doesn't reward perfection, it rewards momentum. Momentum begins with one empowered employee, one process, one decision. Pick a specific function or set of tasks that are repetitive or time-consuming Experiment using GenAI as a digital co-worker and trusted colleague Explore how you might re-imagine entire workflows using Agentic AI While national strategies and governance frameworks are critical, the best starting point is simple: treat AI like a core life skill – on par with reading, writing, and arithmetic. This is the moment to move from curiosity to confidence building, from being a bystander to becoming a confident adopter. One practical step is to assess your organisation's AI readiness to gain insights into your current capabilities. Oman has a rare opportunity to harness the power of AI – building on its legacy of exploration and its tradition of thoughtful, purpose-driven development. The Human + AI Edge is not about replacing people – it's about empowering each person to achieve their fullest potential and contribute to a greater national vision. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
06-05-2025
- Business
- Muscat Daily
Building Oman's Human + AI Edge: From vision to practical action
By Sainath Nagarajan As Oman moves toward achieving its Vision 2040 goals, Artificial Intelligence (AI) is not just a technological tool but a national capability that can boost productivity, prepare the workforce, diversify the economy, and strengthen global competitiveness. Oman has long been a nation of bold navigators and early adopters. Historically, its sea-faring pioneers embraced complexity and opportunity with a sense of purpose. Today, that same spirit of fearless and purposeful innovation can guide the nation as it enters the AI era – with strategic clarity, skilled and ready workforce, and execution discipline at the core. The future of AI in Oman lies not in grand but abstract ideas or one-off pilot technology projects, but inpractically harnessing AI capabilities within daily work. The real breakthrough happens when individuals – regardless of technical background – adopt AI to streamline processes, enhance decisions, and free up time. The current wave of AI innovation is a great equaliser. It's intuitive, accessible, and powerful – giving individuals and organisations new ways to work smarter and grow faster. As AI upskilling and adoption expands, so do the possibilities for Omani entrepreneurs to create entirely new business models and community solutions. This is where GDP impact – potentially $1bn or more – can emerge. Making AI real: Focus on human, not hype Last month, Oman American Business Council (OABC) hosted a webinar led by HumanSense Labs and a guest speaker who previously led Microsoft Office AI initiatives. The goal was to demystify AI and put people's minds at ease. The event drew a diverse audience ranging from government representatives to SMEs and General Managers to technologists. That engagement reflected a key insight: Oman is ready for AI! Participants were keen to drive practical outcomes. One leader emphasised the opportunity to use AI to unlock valuable organisational knowledge hidden in documents, especially in Arabic, where AI could bridge information gaps. Another was curious about how to improve prompting skills, a new but critical competency for professionals looking to use AI tools effectively within their daily workflow. A third acknowledged integration challenges across legacy systems, and we emphasised that AI journeys must be business-driven – not treated as typical IT projects. Rebecca Olson, CEO, Oman American Business Council noted, 'Oman has the opportunity to lead not by chasing trends, but by applying AI in ways that are grounded in its people and its priorities. The interest showed by business leaders during our recent session was unmistakable – there's real appetite to move from curiosity to practical action.' Start where you work While AI has existed since the 1950s, today's AI is different: it is practical, intuitive, and accessible even to non-technical professionals. That creates both a powerful opportunity and a navigational challenge: Where do you begin? How do you make AI truly useful? How do you keep pace? The good news: AI doesn't reward perfection, it rewards momentum. Momentum begins with one empowered employee, one process, one decision. Pick a specific function or set of tasks that are repetitive or time-consuming Experiment using GenAI as a digital co-worker and trusted colleague Explore how you might re-imagine entire workflows using Agentic AI While national strategies and governance frameworks are critical, the best starting point is simple: treat AI like a core life skill – on par with reading, writing, and arithmetic. This is the moment to move from curiosity to confidence building, from being a bystander to becoming a confident adopter. One practical step is to assess your organisation's AI readiness to gain insights into your current capabilities. Oman has a rare opportunity to harness the power of AI – building on its legacy of exploration and its tradition of thoughtful, purpose-driven development. The Human + AI Edge is not about replacing people – it's about empowering each person to achieve their fullest potential and contribute to a greater national vision.
Muscat Daily
26-04-2025
- Business
- Muscat Daily
Oman holds competitive edge through FTA amid US reciprocal tariffs: OABC
Muscat – Amid sweeping US tariff reforms, Oman's longstanding Free Trade Agreement (FTA) with the United States is proving a powerful trade asset. As global exporters brace for higher costs and new barriers to the US market, Oman stands out as a resilient, reliable partner – offering Omani and international firms preferential access to the world's largest economy, the Oman American Business Council (OABC) said. On April 2, the Trump administration announced reciprocal tariffs on a wide range of imports, aiming to level the playing field for US exporters long burdened by high foreign tariffs. These measures, set to take full effect on July 8, are already reshaping trade routes and prompting companies to reconsider export strategies, OABC noted in a press statement. 'FTA more releant than ever' According to OABC, the US-Oman FTA is more relevant than ever in 2025. 'Under the FTA, most Omani goods already enter the US duty-free. Even with the new 10% reciprocal tariff, many Omani products – including minerals, fertilisers, and stones – remain exempt. For items now facing a 10% charge, the FTA still eliminates the original US general tariff under Normal Trade Relations (NTR). That's a key distinction,' OABC stated. Oman is one of only two GCC nations with a bilateral FTA with the US – the other being Bahrain. This gives Oman a unique position, especially as global trade tightens. But isn't Oman just like other 10% tariff countries? 'Not at all,' OABC responded. While countries like Saudi Arabia or the UAE may also face a 10% reciprocal tariff, their exports still incur the original general rate, which often ranges from 5% to 25%. That results in a combined duty of 15%–35% or more. 'Omani exporters, by contrast, avoid that general duty altogether. Even for affected products, the total tariff is typically just 10%. And for goods listed in Annex II of Executive Order 14257, the rate stays at zero,' OABC added. For example, a company exporting shaving products from Oman will face a total tariff of 10%—0% under the FTA, plus the 10% reciprocal charge. The same product from the EU faces a 4.9% general tariff plus 20% reciprocal – totalling 24.9%. A Vietnamese exporter of brooms now faces 48.8% (2.8% general + 46% reciprocal), while Omani brooms incur just 10%. 'This pricing gap gives a real edge to manufacturers and suppliers in Oman. While others face added costs and uncertainty, Omani exporters benefit from stability and preferential US access,' OABC said. The US-Oman FTA remains one of the most comprehensive trade deals globally. It offers legal protections and dispute mechanisms in the US, fair treatment for licensing and investment, streamlined customs, trade transparency, and access to US government procurement – a right shared by only a few countries. However, some sectors still face hurdles. Metals like aluminium and steel remain under a 25% tariff via Section 232 of US trade law due to national security exemptions – even with the FTA. OABC added, 'While the new tariffs drive growth for many industries, there's one exception: Omani companies competing mainly with American manufacturers. US producers face no tariffs and now hold a pricing advantage.' Manufacturing in Oman For global firms facing higher US tariffs, Oman is an attractive production base. A company from Asia, Africa, or the EU can shift operations to Oman, add 35% or more local value, and export to the US – often at zero or minimal duty under the FTA. 'But Oman's advantage goes beyond tariffs,' OABC said. 'With stable regulation, competitive energy prices, strategic location, world-class infrastructure, and growing investor incentives, Oman is one of the MENA region's most promising export platforms.' According to Ali Daud, Chairman of OABC, this is a rare moment when trade policy shifts create real opportunities. He said, 'Oman is ready to welcome international manufacturers and support local exporters with access to the US market. The FTA gives us a serious edge, and we encourage companies to take advantage of it – now, while the window is open.' Daud also urged a long-term perspective, saying, 'We're urging the Omani government to fund detailed research into which products consistently faced high US tariffs, even under the Biden administration – sectors likely to remain protected even if political leadership in Washington changes. No investor will relocate operations for a temporary advantage. Oman needs to focus on durable sectors where US tariffs are likely to persist, regardless of who's in office three years from now.'
Observer
24-03-2025
- Business
- Observer
OCCI and OABC sign strategic MoU
MUSCAT: The Oman Chamber of Commerce and Industry (OCCI) and the Oman American Business Council (OABC) have officially signed a Memorandum of Understanding (MoU), marking a significant step forward in strengthening business, trade, and investment ties between Oman and the United States. The signing took place during a special Suhoor event held at Intercity Hotel in Al Khuwair, attended by over 200 OABC members. The evening not only included the announcement and signing of the MoU, but also meaningful networking with a focus on giving back, as the event spotlighted local charitable initiatives during the month of Ramadhan. The MoU outlines a framework for sustained cooperation between the two organisations, with a focus on increased programming for US–Oman collaboration. Key areas include support for trade delegations, awareness-building around the US–Oman Free Trade Agreement and Exim Bank financing, co-hosted high-level business roundtables, and joint promotion of opportunities for Omani exports to the US market. Shaikh Faisal bin Abdullah al Rawas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry, stated: 'This Memorandum of Understanding represents a significant step towards strengthening economic and trade relations between the Sultanate of Oman and the United States. Collaboration with the Omani American Business Council underscores the importance of enabling Oman's private sector to benefit from investment and trade opportunities with the US market and expand commercial partnerships. The Chamber is committed to providing a supportive environment for business owners and, through this partnership, aims to enhance trade exchange, empower Omani enterprises to access new markets, and leverage shared expertise and knowledge. This will serve common interests and contribute to sustainable economic development.' 'This MoU is not about words on paper—it's about delivering real value,' said Ali Daud, Founder and Chairman Emeritus of the Oman American Business Council. 'It reflects our shared commitment to move beyond handshakes and headlines, and toward tangible outcomes that benefit businesses on both sides. With OCCI as our strategic partner, we're doubling down on trade and investments.' Fouad Eid, Vice President of the Oman American Business Council shared: 'OABC's mission is to improve bilateral trade between the Sultanate of Oman and the United States. There is still so much untapped potential in increasing Omani exports to the US and attracting US investment into Oman. With this strategic cooperation, we believe that OABC and OCCI can fulfill this mission more effectively—because we are better together.' Rebecca Olson, CEO of the Oman American Business Council, added, 'We're proud to formalise this partnership with OCCI at such a pivotal time for US–Oman relations. This collaboration amplifies the strengths of both organisations and allows us to support our members in a deeper, more strategic way. Together, we're building a stronger foundation for the future of business between our two nations.' The MoU reflects the strategic alignment of both organisations in advancing Oman's Vision 2040 and in leveraging the US–Oman Free Trade Agreement to unlock new growth and investment opportunities.
Muscat Daily
24-03-2025
- Business
- Muscat Daily
OCCI, OABC sign MoU to strengthen US-Oman trade and investment relations
Muscat – The Oman Chamber of Commerce and Industry (OCCI) and the Oman American Business Council (OABC) have officially signed a Memorandum of Understanding (MoU), marking a significant step forward in strengthening business, trade, and investment ties between Oman and the United States. The signing took place during a special Suhour event held at Intercity Hotel in Muscat, attended by over 200 OABC members. The evening not only featured the announcement and signing of the MoU but also provided a valuable networking opportunity with a focus on giving back, as the event highlighted local charitable initiatives during the month of Ramadan. The MoU establishes a framework for sustained cooperation between the two organisations, with a focus on expanding programming for US–Oman collaboration. Key areas include support for trade delegations, raising awareness of the US–Oman Free Trade Agreement and EXIM Bank financing, co-hosting high-level business roundtables, and jointly promoting opportunities for Omani exports to the US market. H E Sheikh Faisal bin Abdullah al Rawas, Chairman of the Oman Chamber of Commerce and Industry, stated, 'This MoU represents a significant step towards strengthening economic and trade relations between the Sultanate of Oman and the United States. Collaboration with the Oman American Business Council underscores the importance of enabling Oman's private sector to benefit from investment and trade opportunities with the US market and expand commercial partnerships. 'The Chamber is committed to providing a supportive environment for business owners and, through this partnership, aims to enhance trade exchange, empower Omani enterprises to access new markets, and leverage shared expertise and knowledge. This will serve common interests and contribute to sustainable economic development.' Ali Daud, Founder and Chairman Emeritus of the Oman American Business Council, said, 'This MoU is not about words on paper – it's about delivering real value. It reflects our shared commitment to move beyond handshakes and headlines, and towards tangible outcomes that benefit businesses on both sides. With OCCI as our strategic partner, we're doubling down on trade and investments.' Rebecca Olson, CEO of the Oman American Business Council, added, 'We're proud to formalise this partnership with OCCI at such a pivotal time for US–Oman relations. This collaboration amplifies the strengths of both organisations and allows us to support our members in a deeper, more strategic way. Together, we're building a stronger foundation for the future of business between our two nations.' The MoU reflects the strategic alignment of both organisations in advancing Oman's Vision 2040 and in leveraging the US–Oman Free Trade Agreement to unlock new growth and investment opportunities.
