Latest news with #FreeZones
Zawya
01-08-2025
- Business
- Zawya
Oman: OPAZ formally joins World Free Zones Organization
MUSCAT - The Public Authority for Special Economic Zones and Free Zones (OPAZ) has officially announced its membership in the World Free Zones Organization (WFZO), an international non-profit institution dedicated to supporting and developing free and economic zones worldwide. The organization includes more than 1,600 zones and economic institutions from over 140 countries. This membership aligns with the Authority's ongoing efforts to enhance the competitiveness of the special economic zones, free zones, and industrial cities under OPAZ supervision. It also aims to open new horizons for promoting these zones internationally as leading investment destinations known for their flexibility, readiness, and advanced infrastructure, reflecting a strategic direction to strengthen the international presence of Oman's zones. OPAZ's membership aims to create more opportunities for exchanging expertise and adopting best practices alongside leading international partners. It also contributes to improving operational efficiency and developing promotional and marketing tools, thus supporting efforts to attract high-quality investments and projects with substantial added value. Through this international partnership, the Authority seeks to expand its economic network and benefit from global trends in the management and development of special economic zones, free zones, and industrial cities. It is worth noting that the number of active special economic, free, and industrial zones in the Sultanate of Oman has reached 23, with cumulative investment reaching approximately RO 21 billion by the end of 2024. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Arab News
31-07-2025
- Business
- Arab News
Oman joins World Free Zones Organization to shore more foreign investment
RIYADH: Oman's free zones are set to attract greater foreign investment after signing up to a global network designed to boost the economic areas. The Public Authority for Special Economic Zones and Free Zones said its membership in the World Free Zones Organization will help improve the competitiveness of the territories it oversees, including industrial cities and free zones, while opening new channels to promote them as flexible and investor-ready destinations with advanced infrastructure. Free zones are designated areas that offer businesses incentives such as tax exemptions, full foreign ownership, and simplified customs procedures. These districts are designed to attract investment, boost exports, and support economic diversification by providing a competitive and flexible environment for companies to operate. They are increasingly central to economies in the Middle East, with hubs like Dubai's Jebel Ali, Riyadh's Special Integrated Logistics Zone, and Egypt's Suez Canal Economic Zone driving trade and investment. 'Through this international partnership, the authority seeks to expand its network of economic relations and benefit from the latest global trends in the management and development of special economic zones, free zones, and industrial cities,' Oman News Agency reported. the Public Authority for Special Economic Zones and Free Zones has joined the World Free Zones Organization (World FZO), which includes more than 1,600 members from 140 countries. @WorldFreeZone — هيئة المناطق الاقتصادية والحرة - سلطنة عُمان (@omanopaz) July 29, 2025 This comes as Oman's special economic zones attracted $43.16 billion in investments during the first half of 2023, driven by major projects in Sohar, Salalah, and Duqm, supported by a favorable investment climate fostered by OPAZ and the government's diversification strategy. By joining the organization, which brings together more than 1,600 zones and economic institutions from over 140 countries, the authority will be able to exchange expertise and strengthen its operational capabilities to keep Oman's zones competitive globally. The membership will also support efforts to improve operational efficiency and develop more targeted promotion and marketing strategies to attract high-value projects, ONA said. The body currently oversees 23 operating special economic zones, free zones, and industrial cities across Oman. These districts attracted cumulative investments totaling approximately 21 billion Omani rials ($54.5 billion) by the end of 2024, reflecting their growing appeal to investors. The World Free Zones Organization is a network that includes free zones, multinational corporations, and industry stakeholders committed to fostering global trade and investment. Across the wider Middle East and North Africa region, free zones have become critical enablers of economic diversification and foreign direct investment. The UAE is home to some of the most prominent examples, including Jebel Ali Free Zone, which hosts more than 9,000 companies, and Abu Dhabi's Khalifa Industrial Zone, which supports large-scale manufacturing and logistics operations. In Saudi Arabia, the King Abdullah Economic City and the Special Integrated Logistics Zone in Riyadh have emerged as strategic hubs supporting Vision 2030 objectives, while Egypt's Suez Canal Economic Zone has attracted global interest as a key gateway for trade and industry.
Times of Oman
31-07-2025
- Business
- Times of Oman
Oman officially joins World Free Zones Organization
Muscat: The Public Authority for Special Economic Zones and Free Zones (OPAZ) has officially joined the World Free Zones Organization (World FZO), which is dedicated to supporting and developing free and economic zones worldwide. This membership aligns with the Authority's ongoing efforts to enhance the competitiveness of the special economic zones, free zones, and industrial cities under its supervision. It opens new avenues to promote them internationally as leading investment destinations characterized by flexibility, readiness, and advanced infrastructure, reflecting Oman's commitment to strengthening the global presence of its economic zones. By joining the World FZO, the Authority aims to create more opportunities for knowledge exchange and the adoption of best practices with elite international partners. It also seeks to improve operational efficiency, develop promotional and marketing tools, and support efforts to attract high-quality investments and projects with significant added value. Through this international partnership, the Authority intends to expand its economic network and leverage global trends in the management and development of special economic zones, free zones, and industrial cities. It is worth noting that Oman currently operates 23 special economic, free, and industrial zones, with cumulative investments reaching approximately RO 21 billion by the end of 2024. The World Free Zones Organization includes over 1,600 zones and economic institutions from more than 140 countries.
National Post
31-07-2025
- Business
- National Post
World FZO Brings Its 12th World Congress to Panama in 2026
DUBAI, United Arab Emirates — The World Free Zones Organization announced the signing of a Memorandum of Understanding with the government of Panama to host the 12 th annual World FZO's World Congress in the country's capital, Panama City, in July 2026. Article content The MoU was signed by His Excellency Dr. Mohammed AlZarooni, Chairman of the World FZO, and His Excellency Julio Moltó, Minister of Commerce and Industries at the Government of the Republic of Panama, in the presence of senior officials from both sides. Article content Article content The announcement was made during an official visit led by Dr. AlZarooni to Panama City, where he met with His Excellency José Raúl Molino Quintero, President of the Republic of Panama. On the sidelines of the visit, the delegation toured key sites in Panama, including the Colón Free Trade Zone, PANAPARK Free Zone, and the Panama Canal. Article content Under the MoU, both parties will collaborate to deliver a high-caliber edition of the World FZO World Congress, that convenes decision-makers, freezone leaders, and investors from more than 100 countries, in addition to attracting major economic institutions from around the world. The event is expected to strengthen Panama's global standing as a hub for trade and logistics and enhance its visibility on the international investment map. Article content Article content said: Article content Article content 'World FZO is committed to forging strategic partnerships that enhance the role of freezones as drivers of global growth, based on the importance of developing platforms for international dialogue and cooperation to keep up with the major shifts taking place in the global economy. Our cooperation with the government of Panama represents a key milestone in our efforts to outreach to Latin American markets and strengthen cooperation with governments and economic institutions in this vital region.' ó Article content , Article content Article content said: 'Hosting the Congress represents a strategic step that highlights Panama's position as a global investment gateway and opens new prospects for regional cooperation, technology, and investment. We are committed to providing all necessary elements to ensure the success of this crucial event, in cooperation with the Organization. We value our partnership with World FZO and look forward to leveraging its extensive experience in the development and administration of freezones internationally, which will enhance the competitiveness of Panama's business environment and open our economy to global markets.' Article content This announcement comes as preparations continue for the 11 th World FZO Congress, set to take place in Hainan province, China, from 10–12 October 2025, held with the Hainan International Economic Development Bureau. The back-to-back hosting of the Congress in both China and then Panama reflects the growing momentum of the World FZO on the international stage. Article content The World FZO World Congress is the world's premier gathering of freezone leaders, government officials, investors, and trade experts. It gathers more than 1,500 delegates from over 100 countries, bringing together a select group of decision-makers, and high-level representatives from global industry, trade, and investment sectors. Article content Article content Article content Article content Article content Contacts Article content Article content
Zawya
10-07-2025
- Business
- Zawya
Dubai Free Zones Council reviews initiatives to advance sustainable growth
The Dubai Free Zones Council (DFZC), chaired by H.H. Sheikh Ahmed bin Saeed Al Maktoum, held its 31st meeting to discuss strategic initiatives aimed at supporting sustainable economic growth and enhancing the global competitiveness of Dubai's free zones. The Council underlined the importance of fostering a flexible and integrated legislative environment to support business operations and boost investor confidence. The meeting began with a review of the progress made in implementing the guidelines of the UAE National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC) across Dubai's free zones. Discussions focused on alignment with the National Risk Assessment (NRA) outcomes, data integrity, operational challenges, and overall compliance readiness. Council members also reviewed the requirements issued by the National Committee, including targeted practices and the roadmap for the 2025–2027 assessment cycles. A set of recommendations was presented to improve compliance efficiency and support the UAE's preparedness for upcoming evaluations. A key focus of the meeting was the implementation of Executive Council Resolution No. (11) of 2025, which regulates the operations of free zone entities in Dubai. The Resolution is a major milestone, allowing businesses to expand locally without the need to establish new legal entities. The Council reviewed the Resolution's implementation phases, dual licensing criteria, and integration with digital platforms, aligned with global competitiveness benchmarks and the Dubai Economic Agenda (D33), which seeks to double the size of the emirate's economy over the next decade and position Dubai among the top three global cities. Discussions also covered efforts to streamline procedures and ensure a seamless experience in obtaining services and licences from local and federal entities, particularly for activities that require external approvals. The Council addressed challenges related to overlapping jurisdictions and procedural inconsistencies. Proposed solutions included full digital transformation, the adoption of unified standards, risk-based classification of activities, and the fast-tracking of strategic projects. The meeting also included updates on the development of special economic zones, a review of the Council's achievements, and a discussion of key strategic initiatives.
