Latest news with #AlibinMasoudalSunaidy
Zawya
24-04-2025
- Business
- Zawya
New zones to redefine investment flow in Oman
MUSCAT: The Sultanate of Oman is accelerating its strategy to attract high-value investments by rolling out two dynamic new zones—the Muscat Airport Free Zone and the Integrated Economic Zone in Al Dhahirah—each positioned to offer unique advantages to global investors. According to Dr Ali bin Masoud al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), these new hubs are part of a coordinated national ecosystem that unlocks fresh potential in logistics, e-commerce, and cross-border trade. 'All the free zones and economic zones in the country are working within an ecosystem that enables each to focus on specific sectors and unique selling points,' Dr Al Sunaidy explained in an interview with Observer, during the OPAZ media briefing held recently. 'The airport free zone, for instance, is a new concept in Oman designed to leverage our aviation infrastructure, which has so far been underutilised in terms of air logistics.' AVIATION-DRIVEN VALUE CREATION The Muscat Airport Free Zone is positioned as a game-changer in air cargo logistics, building on Oman's strategic investments in airports in Muscat, Salalah, and beyond. While seaports have long been the backbone of Oman's logistics sector, the integration of air transport through this new zone opens a 'new horizon' for the country. Dr Al Sunaidy emphasised that the zone will cater to sectors where air logistics is critical, such as pharmaceuticals, e-commerce, and high-value components. 'Having a free zone next to the airport allows for value-added processes like repackaging, assembling, or modifying goods—activities that are not allowed under traditional bonded storage rules,' he noted. This means goods such as watches or pharmaceuticals can now be imported in parts, assembled or customised within the free zone, and then exported again without incurring customs duties or VAT until they enter the Omani market. This assembly-based value creation transforms Oman from a transshipment stop into a production and logistics hub, particularly attractive for firms with regional distribution needs. 'It's not about making it in Oman, but assembling and customising it in Oman,' said Dr Al Sunaidy, highlighting the zone's ability to provide flexible operations for businesses focused on just-in-time delivery models. AL DHAHIRAH: OMAN'S NEW GATEWAY TO SAUDI ARABIA AND BEYOND In the northwest, the Integrated Economic Zone in Al Dhahirah (Ibri) aims to become a key logistics and commercial bridge with Saudi Arabia, situated just 20 kilometres from the border. According to Dr Al Sunaidy, the zone was born out of a shared vision between Oman and Saudi Arabia's leadership to strengthen bilateral and regional trade ties. 'The zone can act as a consolidator of cargo destined for various locations inside Saudi Arabia and even further—to Egypt, Iraq, and Kuwait,' he explained. 'It also provides a platform for Saudi companies to reach Oman, Africa, and Asian markets through our ports.' The zone is envisioned not as an industrial cluster but as a trade facilitation hub, housing dry ports, warehouses, hotels, truck maintenance facilities, and possibly Potash-related manufacturing, given the mineral's abundance in the area. Oman's regulatory framework promotes seamless movement of goods between Oman's free and economic zones. As Dr Al Sunaidy pointed out, the regulations ensure minimal rechecking of cargo once it's cleared at the entry point, thereby enhancing operational efficiency across zones. STRATEGIC AND SOCIAL SYNERGIES Beyond commercial benefits, the Al Dhahirah zone is expected to support religious tourism and cross-border mobility. 'Omani pilgrims heading to Hajj will face fewer border challenges, and Saudi tourists visiting Salalah or Muscat could benefit from a smoother travel route,' Dr Al Sunaidy added. As Oman positions itself as a multi-modal logistics hub, both zones reflect a forward-thinking economic diversification strategy. By unlocking underutilised infrastructure and deepening regional integration, these zones are not just real estate developments—they are critical instruments in Oman's broader vision for 2040. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
23-04-2025
- Business
- Observer
New zones to redefine investment flow in Oman
MUSCAT, APRIL 23 The Sultanate of Oman is accelerating its strategy to attract high-value investments by rolling out two dynamic new zones—the Muscat Airport Free Zone and the Integrated Economic Zone in Al Dhahirah—each positioned to offer unique advantages to global investors. According to Dr Ali bin Masoud al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), these new hubs are part of a coordinated national ecosystem that unlocks fresh potential in logistics, e-commerce, and cross-border trade. 'All the free zones and economic zones in the country are working within an ecosystem that enables each to focus on specific sectors and unique selling points,' Dr Al Sunaidy explained in an interview with Observer, during the OPAZ media briefing held recently. 'The airport free zone, for instance, is a new concept in Oman designed to leverage our aviation infrastructure, which has so far been underutilised in terms of air logistics.' AVIATION-DRIVEN VALUE CREATION The Muscat Airport Free Zone is positioned as a game-changer in air cargo logistics, building on Oman's strategic investments in airports in Muscat, Salalah, and beyond. While seaports have long been the backbone of Oman's logistics sector, the integration of air transport through this new zone opens a 'new horizon' for the country. Dr Al Sunaidy emphasised that the zone will cater to sectors where air logistics is critical, such as pharmaceuticals, e-commerce, and high-value components. 'Having a free zone next to the airport allows for value-added processes like repackaging, assembling, or modifying goods—activities that are not allowed under traditional bonded storage rules,' he noted. This means goods such as watches or pharmaceuticals can now be imported in parts, assembled or customised within the free zone, and then exported again without incurring customs duties or VAT until they enter the Omani market. This assembly-based value creation transforms Oman from a transshipment stop into a production and logistics hub, particularly attractive for firms with regional distribution needs. 'It's not about making it in Oman, but assembling and customising it in Oman,' said Dr Al Sunaidy, highlighting the zone's ability to provide flexible operations for businesses focused on just-in-time delivery models. AL DHAHIRAH: OMAN'S NEW GATEWAY TO SAUDI ARABIA AND BEYOND In the northwest, the Integrated Economic Zone in Al Dhahirah (Ibri) aims to become a key logistics and commercial bridge with Saudi Arabia, situated just 20 kilometres from the border. According to Dr Al Sunaidy, the zone was born out of a shared vision between Oman and Saudi Arabia's leadership to strengthen bilateral and regional trade ties. 'The zone can act as a consolidator of cargo destined for various locations inside Saudi Arabia and even further—to Egypt, Iraq, and Kuwait,' he explained. 'It also provides a platform for Saudi companies to reach Oman, Africa, and Asian markets through our ports.' The zone is envisioned not as an industrial cluster but as a trade facilitation hub, housing dry ports, warehouses, hotels, truck maintenance facilities, and possibly Potash-related manufacturing, given the mineral's abundance in the area. Oman's regulatory framework promotes seamless movement of goods between Oman's free and economic zones. As Dr Al Sunaidy pointed out, the regulations ensure minimal rechecking of cargo once it's cleared at the entry point, thereby enhancing operational efficiency across zones. STRATEGIC AND SOCIAL SYNERGIES Beyond commercial benefits, the Al Dhahirah zone is expected to support religious tourism and cross-border mobility. 'Omani pilgrims heading to Hajj will face fewer border challenges, and Saudi tourists visiting Salalah or Muscat could benefit from a smoother travel route,' Dr Al Sunaidy added. As Oman positions itself as a multi-modal logistics hub, both zones reflect a forward-thinking economic diversification strategy. By unlocking underutilised infrastructure and deepening regional integration, these zones are not just real estate developments—they are critical instruments in Oman's broader vision for 2040.
Observer
16-04-2025
- Business
- Observer
Khazaen Economic City attracts $1.38 billion in investments
MUSCAT: Khazaen Economic City (Khazaen), a flagship integrated economic development zone in Oman, has recorded robust investment growth and milestone project completions in 2024, as revealed during the annual media forum organised by the Public Authority for Special Economic Zones and Free Zones (OPAZ) on April 14, 2025, under the auspices of Shaikh Dr Ali bin Masoud al Sunaidy, Chairman of OPAZ. As of 2024, Khazaen has signed a total of 118 investment agreements with a cumulative value of $1.38 billion, attracting investors from more than 19 countries. The city continues to draw both foreign and domestic interest, with Foreign Direct Investments (FDI) amounting to $832 million, and Domestic Direct Investments (DDI) reaching $551 million. The development currently supports over 33 industrial and logistics projects under construction, spanning across six key economic sectors. Several landmark developments were inaugurated this year, reflecting the city's accelerating growth and readiness to serve multiple sectors. Among the most notable was the opening of the 'Silal' Fruit and Vegetable Central Market, which aims to become a central hub for agro-logistics and food distribution in the Sultanate. Complementing this was the opening of the Flag Oman Logistics Centre, a state-of-the-art facility supporting freight handling and supply chain efficiency in the region. Khazaen also launched the Al Maskan Labour Village, a modern residential complex designed to accommodate the city's growing workforce while maintaining high standards for quality of life and safety. In the pharmaceutical sector, Khazaen saw significant momentum with the launch of several initiatives and investment projects, most notably the Opal Biopharma Project, which is specialised in the production of human vaccines. This project underlines Oman's strategic ambition to develop a domestic biopharmaceutical capability while boosting health security and export potential. The total investments in the pharmaceutical sector now stand at $405 million. The industrial sector also witnessed notable activity with the launch of manufacturing initiatives such as Al Watania Paper Products and Jana International Plastic Products. These projects are part of the $350 million investment channeled into Khazaen's industrial sector, supporting local manufacturing and import substitution strategies. Meanwhile, the food sector continues to be a strong contributor with $427 million in investments, and the logistics sector saw $130 million in funding, capitalising on Khazaen's access to Oman's multimodal transport corridors. A key milestone in 2024 was the completion of the fit-out works for the One Stop Shop, Khazaen's centralised facility designed to streamline investor services and government approvals. The facility is expected to significantly improve the ease of doing business and reduce lead times for project implementation. To date, more than 2,000 job opportunities have been created through various projects in the economic city, reflecting Khazaen's growing impact on the national employment landscape. OPAZ officials highlighted these developments as proof of Khazaen's success in attracting high-value investments and fostering a business-friendly ecosystem. With continued support from the government, strategic infrastructure in place, and a steady pipeline of investment projects, Khazaen is poised to play an even greater role in Oman's long-term economic transformation. Its performance in 2024 stands as a testament to the city's emergence as a major hub for logistics, manufacturing, and innovation in the region.
Zawya
15-04-2025
- Business
- Zawya
Exports from Oman's economic zones, industrial cities top $10bln annually
Muscat – The annual value of exports from Oman's special economic zones, free zones, and industrial cities exceeded RO4.5bn, accounting for about 18% of the country's total exports and 38% of its non-oil exports, according to an economic survey conducted by the Public Authority for Special Economic Zones and Free Zones (OPAZ). At its third annual media briefing held on Monday, OPAZ unveiled the results of the survey, which was conducted in mid-2024 in coordination with the National Centre for Statistics and Information (NCSI), targeting enterprises operating within special economic zones, free zones, and industrial cities. The survey also revealed that these zones contributed 7.5% to Oman's GDP in 2022, representing 11.6% of non-oil economic activities for that year. Addressing the media briefing, H E Sheikh Dr Ali bin Masoud al Sunaidy, Chairman of OPAZ, announced that in 2024 the volume of investment in economic zones, free zones, and industrial cities grew by 10% compared to 2023, reaching approximately RO21bn by the end of December 2024. Of this total, RO6.3bn worth of investments were committed to the Special Economic Zone at Duqm, reflecting a 5% increase compared to 2023. Other free zones recorded an investment volume of RO6.6bn by the end of December 2024. The Sohar Free Zone witnessed a significant rise in cumulative investment, doubling from RO600mn at the end of December 2023 to over RO1.3bn by the end of December 2024. This surge was primarily attributed to the successful attraction of the polysilicon factory project, which drew around half a billion Omani rials in investment. The project will supply essential materials for the solar panel industry and other sectors. Industrial cities, which operate under the management of Madayn, reported a committed investment volume of RO7.6bn by December 2024, marking a year-on-year growth rate of 3.3%. Investments in Khazaen Economic City grew by an impressive 18.8%, with total committed investments surpassing RO500mn by the end of December 2024. Special Economic Zones and Free Zones Law A major recent development was the issuance of the Special Economic Zones and Free Zones Law under Royal Decree No 38/2025. The law is intended to boost investor confidence by unifying the legislative framework governing these zones. 'This law will enhance the business environment in economic and free zones, making them more attractive to investors. It includes clear provisions for approvals, incentives, and facilities, and introduces unified income tax exemptions of up to 30 years across all zones, subject to review every ten years,' H E Sunaidy said in his speech. He added that the law also addresses procedures for land and property allocation, grace periods for business activities, regulation of labour licensing, and the temporary import and export of goods to and from the zones. It also facilitates the transfer of projects between zones. 'Moreover, the law includes special provisions for customs administration, outlines the obligations of zone operators, and regulates real estate development within economic zones, including provisions for property ownership,' he said. H E Sunaidy further emphasised that the Omani government, under the wise leadership of His Majesty Sultan Haitham bin Tarik, is committed to enhancing the investment environment, developing economic zones and industrial cities, and economically empowering the governorates. These efforts, he noted, would strengthen the role of special economic and free zones in the near future. 'OPAZ continues to work towards increasing the contribution of economic zones, free zones, and industrial cities to GDP, while also creating direct and indirect employment opportunities,' he added. Speaking on the authority's environmental and sustainability priorities, H E Sunaidy noted that last year OPAZ completed a consultancy study for the development of a renewable energy zone in the Special Economic Zone at Duqm. Additionally, Sur Industrial City launched the Green Belt Project, which aims to create green spaces to reduce carbon emissions. A sustainability plan was also implemented in the Sohar Free Zone, including the establishment of an air quality monitoring network. Simplifying services for investors H E Sunaidy affirmed the authority's commitment to governance within the state's administrative framework and resource management. In line with Royal Directives, OPAZ has begun integrating investor services electronically with relevant government entities to streamline procedures and increase transparency. Rental rates for heavy and medium industrial land were reduced to between 250 and 500 baisas per square metre annually. To further support investors, OPAZ has introduced several initiatives, including reducing project licensing times, re-engineering import and export procedures, and offering additional incentives such as discounted rental rates for new projects in Ibri, Sur, and Mahas Industrial Cities. Rental discounts and exemptions have also been provided during the initial years for new projects in upcoming industrial cities in Mudhaibi, Suwaiq, and Madha. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Observer
14-04-2025
- Business
- Observer
Industrial and economic hubs power Oman's Vision 2040 goals
Muscat: Oman's free economic zones are emerging as key engines of growth, aligning closely with the national development objectives outlined in Oman Vision 2040. With a strong focus on economic diversification, sustainability, and employment generation, these zones are helping reshape the Sultanate's future economy beyond oil dependence. According to the Public Authority for Special Economic Zones and Free Zones (OPAZ), total committed investments across special economic zones, free zones, and industrial cities reached RO 21 billion by the end of 2024, a 10 per cent increase over the previous year. These figures underscore the strategic role the zones play in attracting both local and foreign investment into high-priority sectors. Speaking at OPAZ's annual media meeting, Shaikh Dr Ali bin Masoud al Sunaidy, Chairman, highlighted that the zones now contribute 7.5 per cent to Oman's GDP and 11.6 per cent to non-oil activities, with exports exceeding RO 4.5 billion, accounting for 38 per cent of the Sultanate's non-oil exports. These zones are channelling investment into industries vital to Oman Vision 2040, including pharmaceuticals, food processing, fisheries, renewable energy, and petrochemicals. In 2024, 180 projects were under negotiation, with 12 per cent being advanced in partnership with Invest Oman and the National Negotiation Team. Environmental sustainability, a core pillar of Oman Vision 2040, is also being prioritised. The Special Economic Zone at Duqm (SEZAD) is establishing a renewable energy cluster, while Sur Industrial City is developing green areas under its Green Belt Project. In Sohar Free Zone, an air quality monitoring system has been launched as part of a broader environmental plan. Job creation remains a fundamental outcome. In 2024, 3,597 Omanis were employed in projects across the zones, raising the national workforce to over 29,000, with an Omanisation rate of 37 per cent. This directly supports Vision 2040's emphasis on developing a skilled, competitive local workforce. To enhance the business environment, OPAZ has implemented investor-friendly reforms including reduced lease rates, streamlined licensing, and digital integration with government entities aimed at improving transparency and reducing red tape. Quality improvements are also being realised in areas such as Duqm. The Saay Commercial District is over 90 per cent complete, while the number of students in local schools has increased by 47 per cent in three years. Plans are also under way to expand green spaces and develop tourism infrastructure. As Oman accelerates towards its 2040 aspirations, free and economic zones remain central to national progress. Under the leadership of His Majesty Sultan Haitham bin Tarik and with OPAZ at the helm, these zones are laying the groundwork for a resilient, inclusive, and sustainable economy turning Vision 2040 into a living reality. Caption: Site of the expansive United Solar Polysilicon project in Sohar Freezone
