Oman: Special Economic Zones and Free Zones Law to boost investor confidence
Muscat – Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) has affirmed that the issuance of the Special Economic Zones and Free Zones Law aligns with the efforts of the Government of Oman to enhance the investment climate and make these zones more attractive for the localisation of high-quality projects.
His Majesty Sultan Haitham bin Tarik issued Royal Decree No 38/2025 on Monday, promulgating the Special Economic Zones and Free Zones Law, following its presentation before the Council of Oman.
In a statement to the Oman News Agency, H E Dr Ali bin Masoud al Sunaidy, Chairman of OPAZ, stated that the new law is designed to boost investor confidence by unifying the legislative framework, guarantees, benefits, incentives, exemptions, and facilities granted to economic activities within these zones. The law also provides additional privileges to strategic projects, enhancing their flexibility and appeal for high-quality investments.
H E Sunaidy added that the new legislation keeps pace with developments in Oman's economy and industrial sectors, reflecting the aspirations of investors.
'The law simplifies and streamlines procedures through a one-stop shop system that issues all approvals, permits, licences, and certificates related to conducting economic activities in special economic zones and free zones. It also introduces effective mechanisms to link tax exemption phases to employment generation, promote local content, and attract high value-added projects,' he noted.
He further emphasised that the law includes provisions regulating real estate development within special economic zones and free zones, allowing real estate developers to offer residential units for sale under the 'freehold' system.
'This represents a significant addition to the various sectors of economic activity in special economic zones and free zones and will help revitalise these areas by attracting a larger population and enhancing public facilities and services,' H E Sunaidy added.
© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).
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