The Oman Authority for Partnership for Development (OAPFD) has outlined changes to the country’s offset and industrial participation programme that are pending in 2019.
The reforms to the programme – which are expected to be applicable in the second or third quarter of the year – were presented by OAPFD chief executive Dr Dhfir Awadh Al-Shanafi at the Global Offset and Countertrade Association (GOCA) conference in Virginia, US, on 6 May.
Changes include the formal incorporation of a civil offset programme; the clarification of the definition of a local company; adjustment to programme multipliers; a shift in the reporting period for programme milestones from biannual to annual; and the formal shift to an online system that will include the mapping of industrial capabilities to aid obligors.
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