The Sultanate came third on the Arab level in property right index (PRI) for 2017, which was issued by the US based Property Rights Alliance and published on its website.
The Sultanate came 39th on the world level with 6.280 points, one ranking higher than 2016 at which the Sultanate came 40th on the world level and fourth on the Arab level.
The Sultanate earned 5.79 points at the sub index for legal and political environment, 6.09 points at the judiciary independence index, 5.92 points at the rule of law index, 6.48 points at the political stability index and 5.4 points at the corruption combatting index.
The Sultanate also earned 9.48 points at the property registration, 7.67 points at the physical property index and 5.19 points at the intellectual property protection index.
New Zealand topped the international index, which includes 127 countries followed by Finland, Sweden, Switzerland, Norway, Luxembourg, Singapore, Japan, Netherlands and Australia, respectively.
Performance improved by 3.45 per cent since last year, with the Physical Property Rights component improving by 5.98 per cent.
This demonstrates that global property rights protections are increasing with each passing year, a hopeful sign for global economic prosperity.
Oman News Agency