Latest news with #MohamedalShizawi
Observer
12-04-2025
- Business
- Observer
SOHAR Freezone unveils major expansion plans to meet rising demand
SUHAR: SOHAR Port and Freezone, recognized globally as one of the fastest-growing port and freezone developments, has announced ambitious expansion plans to accommodate the surging demand from prospective tenants. With the first phase nearing full occupancy, the urgency for additional space has become clear, as numerous businesses express keen interest in establishing operations in Oman's thriving economic hub. This expansion is anticipated to yield substantial economic benefits, including an impressive annual throughput exceeding 2.5 million tonnes, over $5 billion in investments, and the availability of 500 hectares of leasable land. Furthermore, it is projected to create between 300 to 700 jobs, increase revenue from land leases, and stimulate local trade, thereby boosting the region's GDP. Significantly, over 85% of the project components will be supplied by local contractors and suppliers, enhancing in-country value. The expansion will commence with the General Design Services Package, paving the way for construction to provide new leasable land for businesses and tenants. The momentum for SOHAR Freezone's expansion has been further strengthened by the issuance of Royal Decree No. 38/2025 by His Majesty Sultan Haitham. This decree enacts the Law of Special Economic Zones and Free Zones, following its presentation to the Council of Oman. The new law fortifies the legal and regulatory framework, making Oman's free zones more competitive and appealing to foreign investment. As SOHAR Freezone moves forward with its expansion plans, it is poised to become a powerhouse of industrial growth and trade, unlocking new avenues for manufacturing, logistics, and innovation, and reinforcing Oman's critical role as a gateway to global markets. Mohamed al Shizawi, Acting CEO of SOHAR Freezone and VP of People and Support Services, remarked, 'This expansion is a key step in enhancing our capacity to support the region's economic growth. As Oman advances towards the goals of Vision 2040, we are committed to building the infrastructure and economic zones that will attract global investments and talent. By strengthening our position as a business hub, we aim to contribute to Oman's long-term economic development and create shared opportunities for growth and prosperity.' Strategically located at the crossroads of global trade routes between Asia and Europe, SOHAR Port and Freezone has successfully attracted over USD 30 billion in investments to date. The freezone features a unique integrated complex with a streamlined management structure, facilitating a seamless flow of business and a bonded corridor between the port and freezone, with a transit time of only 14 minutes for goods. SOHAR Freezone caters to a diverse array of industries, offering essential services such as warehousing and logistics, petrochemicals, general trading, automotive logistics, plastics, chemicals, and metals. This comprehensive service offering positions the freezone as a vital center for both local and international businesses, fostering an environment conducive to growth across various sectors.
Muscat Daily
12-04-2025
- Business
- Muscat Daily
Sohar Freezone announces expansion plan to meet growing investor demand
Suhar – Sohar Port and Freezone, recognised as one of the world's fastest-growing port and freezone developments, has announced plans for a significant expansion of its freezone area to accommodate the increasing demand from prospective tenants. With the first phase nearing full occupancy, the need for additional space has become evident, as numerous businesses express interest in establishing operations in Oman's burgeoning economic hub. This expansion is expected to generate significant economic benefits, including an additional 2.5mn tonnes of throughput annually, over $5bn in investments, and 500 hectares of leasable land. It will create 300-700 jobs and increase revenue from land leases and local trade, boosting the region's GDP. Over 85% of project components will be supplied by local contractors and suppliers, supporting in-country value. The expansion will begin with the General Design Services Package, followed by construction to deliver new leasable land for businesses and tenants. The expansion of Sohar Freezone gains powerful momentum with the issuance of Royal Decree No 38/2025 by His Majesty Sultan Haitham, which enacts the Law of Special Economic Zones and Free Zones following its presentation to the Council of Oman. This new law strengthens the legal and regulatory environment, making Oman's free zones more competitive and attractive for foreign investment. As Sohar Freezone advances its expansion, it is set to become a powerhouse of industrial growth and trade, unlocking new opportunities for manufacturing, logistics, and innovation, reinforcing Oman's role as a vital gateway to the world. Mohamed al Shizawi, Acting CEO of Sohar Freezone, VP People and Support Services, said, 'This expansion is a key step in enhancing our capacity to support the region's economic growth. As Oman advances towards the goals of Vision 2040, we are committed to building the infrastructure and economic zones that will attract global investments and talent. By strengthening our position as a business hub, we aim to contribute to Oman's long-term economic development and create shared opportunities for growth and prosperity.' Strategically positioned at the crossroads of global trade routes between Asia and Europe markets, Sohar Port and Freezone has attracted over $30bn in investments to date. The freezone features a unique integrated complex with a single management structure, allowing for seamless flow of business and a bonded corridor between the port and freezone, with a transit time of only 14 minutes for goods. Sohar Freezone serves a diverse range of industries, providing essential services including warehousing and logistics, petrochemicals, general trading, automotive logistics, plastics, chemicals and metals. This comprehensive service positions the freezone as a vital center for both local and international businesses, fostering an environment conducive to growth across various sectors.
