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James E. Sinclair,
Chairman & CEO,
Tanzanian Royalty Exploration Corporation |
| | April 13, 2010
Updates From Oman - Day 2
Author: Jim Sinclair
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| | My Dear Friends,
Today was another hectic day in Oman. Meetings have been planned by our hosts covering the entire day with the exception of one hour which is now.
Oman is a very special place with kind and tolerant people. We must be very careful not to lump together people in a given area without attempting to understand and learn from the various cultures.
A general key to understanding the outlook of people where you are is the courtesy that drivers show each other on the road plus or minus the utilization of auto horns. This is a quiet city even during rush hour. Courtesy is shown from driver to driver. This is a reflection of the tolerant and relaxed mode of living here. Muscat and their tolerant outlook on life is practiced by all classes from the most humble to the most powerful.
As far as being hosts they are amongst the finest in the world. As far as business is concerned it is based on relationships, fair dealing, transparency and shared control. If you are reasonable and have valuable assets, making a deal is not a problem. It may take some time but in that lies the strength of commitment. Once a hand shake takes place the writing follows and will result in a signing of agreement.
There is no income tax on salaries and the corporate rate is 12%. Oman acts almost as a free port making the cost of goods imported cheaper than anywhere else I have visited.
I am confident that this trip will be fruitful for us and for our Oman counter parties.
Respectfully,
Jim |
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| | You can view the Previous Chairman's Corner item: Wed Apr 14, 2010, Updates From Oman - Day 3
You can view the Next Chairman's Corner item: Thu Apr 8, 2010, Jim Sinclair to Host Tanzanian Trip in September
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