Latest news with #GreenBeltProject
Saba Yemen
6 days ago
- Business
- Saba Yemen
Governor of Al-Hodeidah launches second phase of Green Belt Project
Al-Hodeidah – SABA: The Governor of Al-Hodeidah, Abdullah Atifi, along with First Deputy Governor Ahmed Al-Bishri, inaugurated today the second phase of the Green Belt Project surrounding the city of Al-Hodeidah. The initiative aims to expand green coverage and boost environmental efforts in the governorate. This phase includes the planting of 7,000 palm trees and 60,000 various fruit-bearing and forest trees along the main entrances to the city. The project comes at an estimated cost of 168 million Yemeni riyals, jointly funded by the private sector, the Ministry of Agriculture and Fisheries, the Ministry of Water Resources, and the Local Agricultural Projects and Initiatives Financing Unit. Governor Atifi described the project as one of the key developmental and environmental initiatives being implemented in the governorate, reflecting the directives of the revolutionary leadership in promoting environmental security and achieving sustainable development. For his part, Deputy Governor Al-Bishri stated that the second phase will be implemented from May through December 2025, marking a significant step in the agricultural expansion efforts within the governorate. He emphasized the project's role in enhancing urban aesthetics and mitigating the effects of climate change. He stressed the importance of cooperation between the state, the private sector, and the local community to ensure the success of this vital project, thereby reinforcing Al-Hodeidah's status as a leading governorate in the green transformation pathway. Whatsapp Telegram Email Print
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
Times of Oman
14-04-2025
- Business
- Times of Oman
Investment in Oman's Economic Zones surges by 10% to OMR 21 Billion
Muscat : The Public Authority for Special Economic Zones and Free Zones revealed during its annual media briefing that cumulative investment in economic, free, and industrial zones rose to approximately OMR 21 billion by the end of 2024, marking a 10 percent increase over its level at the end of 2023. His Excellency Sheikh Dr. Chairman of the Public Authority for Special Economic Zones and Free Zones:" The volume of committed investments in the Special Economic Zone at Duqm rose by the end of 2024 to OMR 6.3 billion , recording a growth of 5 percent. In the free zones, it rose to OMR 6.6 billion . The industrial cities recorded a committed investment volume of approximately OMR 7.6 billion , while investments in Khazaen Economic City grew by 18.8 percent, exceeding more than OMR half a billion . "The contribution of economic, free, and industrial zones to the GDP in 2022 amounted to 7.5 percent, and the value of exports from these zones exceeded OMR 4.5 billion , representing 17.9 percent of the total value of exports in the Sultanate of Oman." His Excellency pointed out that the number of projects under negotiation increased over the past year to 180 projects across various economic sectors, including medical and pharmaceutical industries, food and fisheries industries, renewable energy-related industries, petrochemical industries, and others. "The Authority continues to develop new economic and free zones and industrial cities, including the Muscat International Airport Free Zone, the Integrated Economic Zone in Al Dhahirah Governorate, and Raysut Industrial City." "Over the past year, 3,597 Omani citizens were appointed to projects operating in these regions, bringing the total number of national workers in these regions to more than 29,000, with an Omanization rate of 37 percent." "Over the past year, the Authority completed the consultancy study for the project to develop a renewable energy zone in Special Economic Zone at Duqm , and Sur Industrial City adopted the Green Belt Project with the aim of creating green spaces that contribute to reducing carbon emissions and implementing the environmental sustainability plan in the region." His Excellency added that the Authority has taken the initiative to unify the services provided to investors through electronic linkage with relevant government agencies to facilitate procedures and achieve greater transparency, and to grant additional incentives to investors, including reducing the rental price of heavy and medium industrial lands, especially in cities.
