OPAZ explores stronger economic ties with India
Muscat – A delegation from the Public Authority for Special Economic Zones and Free Zones (OPAZ) last week visited India to strengthen economic cooperation between the two nations in the fields of special economic zones, free zones, and industrial areas. The visit also aimed to attract investments and facilitate the exchange of expertise and best practices between the two countries.
The Omani delegation, led by H E Eng Ahmed bin Hassan al Dheeb, Deputy Chairman of OPAZ and Undersecretary at the Ministry of Commerce, Industry, and Investment Promotion, included CEOs from key industrial and logistics sector entities such as Madayn (the Public Establishment for Industrial Estates), Salalah Free Zone, and Khazaen Economic City.
During the visit, the delegation toured Indian industrial and economic institutions, including Jindal Iron and Steel Group's project in Angul, Odisha, where they observed steel manufacturing operations. They also visited OP Jindal Global University to learn about its academic programmes, research centres, and facilities.
Coinciding with the 70th anniversary of diplomatic ties between Oman and India, the Embassy of Oman in India, in cooperation with OPAZ, hosted a business forum on February 6. The event was attended by representatives from more than 80 Indian companies across various sectors, including pharmaceuticals, food, medical products, and energy.
During the forum, the Omani delegation presented a detailed working paper highlighting investment opportunities in the regions under OPAZ's oversight. The presentation outlined incentives available to investors and priority sectors within the special economic zones and free zones. Oman Law House also provided an overview of the country's legislative and regulatory frameworks.
Addressing the forum, H E Dheeb emphasised the significance of Oman-India relations, noting that India is one of Oman's most important investment partners. 'Special economic zones, free zones, and industrial cities play a vital role in attracting investments and enhancing economic cooperation between the two countries. We encourage Indian investors to explore the opportunities available in the sultanate,' he said.
The Omani delegation's visit and the business forum reaffirmed the commitment of Oman and India to deepening bilateral trade ties and fostering collaboration in sectors critical to their economic growth.
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