Latest news with #OPAZ
Zawya
3 days ago
- Business
- Zawya
Kuwait's Combined Group lands $240mln GCC contracts
Kuwait-based Combined Group Contracting Company has announced that it has secured new contracts in UAE and Oman worth a total KD73.3 million ($240 million) which will be completed within a two-year period. In the UAE, the company snapped up the construction and upgradation contract for Emirates Road - all the way from Al Bade'a Intersection to E55 Intersection. The KD57 million contract was awarded by the Ministry of Energy & Infrastructure, said CGC in a statement. In Oman, the company secured the construction contract for the coastal road at Duqm Coastal & Central Business District (CBD) Roads at Duqm. The KD16.3 million project was awarded by Public Authority for Special Economic Zones and Free Zones (OPAZ). Earlier this year, the Combined Group Contracting said that it had been awarded contracts worth AED1.01 billion ($275.8 million) in UAE. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Oman: EZAD, anchoring investments for a diversified future
Oman's economic landscape is undergoing a profound transformation guided by Vision 2040, the Sultanate of Oman's strategic roadmap towards a diversified, knowledge-driven economy. Central to this vision is the Al Dhahirah Economic Zone (EZAD), a flagship initiative that reflects Oman's commitment to redefining its economic narrative and deepening regional integration within the GCC. EZAD is more than just an economic zone; it is a symbol of visionary policy, geographic advantage, and sustainable development. Situated in the Al Dhahirah Governorate, just 20 kilometers from the Rub Al Khali border crossing with Saudi Arabia, EZAD strategically positions Oman as a gateway to the $1.6 trillion GCC market. This proximity enables seamless overland trade, substantially reducing transportation costs and delivery times for businesses accessing the Saudi market and beyond. The newly established direct Oman-Saudi road has already driven a remarkable 350% increase in bilateral trade between 2022 and 2024, reaching nearly RO 2.18 billion. This momentum underscores the immense potential EZAD holds in enhancing trade flows and industrial collaboration across borders. The Public Authority for Special Economic Zones and Free Zones (OPAZ) plays a pivotal role in steering the development of EZAD. The zone encompasses a total area of 388 km², with OPAZ currently focused on Phase 1A, which spans 7.5 km² as part of the initial urgent development stage. This phase includes essential facilities such as the dry port and a dedicated veterinary quarantine centre. Through a robust regulatory framework and a streamlined 'one-stop shop' service, OPAZ ensures a highly investor-friendly environment. Investors benefit from a suite of competitive incentives including 100% foreign ownership, tax holidays of up to 30 years, duty exemptions on equipment and raw materials, and full repatriation of profits. These advantages firmly position EZAD as a leading investment destination within the Middle East. Aligned with Oman's economic diversification objectives, EZAD is purposefully designed to cultivate sectors beyond hydrocarbons. Key industries targeted include clean and renewable energy, high-precision manufacturing, logistics, and advanced manufacturing that demand sophisticated infrastructure and specialised facilities. EZAD is poised to emerge as a regional logistics hub, featuring a 4 km² dry port managed by Asyad Group on behalf of the Omani government. The first phase of the dry port development covers 1 km² and will include customs facilities, bonded warehouses, and container handling infrastructure. Smart city innovations, such as solar-powered lighting and intelligent traffic management systems, underline the zone's commitment to sustainability and operational efficiency. To support this expansive vision, RO 122 million has been secured for comprehensive infrastructure development, encompassing roads, drainage systems, and connectivity enhancements. Specifically, RO 22.3 million has been allocated for Phase 1, ensuring the foundational infrastructure is in place to catalyse growth and investor confidence. The zone's commitment to empowering local businesses is clear. Contracts stipulate significant subcontracting opportunities for Omani SMEs, with over RO 10 million earmarked for local enterprises. This strategy not only fosters job creation and skill development but also embeds SMEs into regional supply chains, contributing to Oman's broader economic objectives. EZAD exemplifies Oman-Saudi collaboration. A joint executive committee oversees the zone's development, fostering mutual investments, regulatory alignment, and business facilitation. Discussions on establishing a joint Saudi-Omani operating company further solidify this bilateral partnership, reducing investor risks and enhancing regional cooperation. While the zone's primary focus is regional, it actively seeks investments from Asia—particularly China and India—as well as Europe. Oman's stable investment climate, strategic logistics positioning, and connectivity to Gulf and African markets present compelling advantages for international investors. The zone is an ideal base for distribution centres, cold storage facilities, and third-party logistics operations. Diverse investment opportunities await both local and international players. Agro-processing units can leverage Al Dhahirah's agricultural potential, while the veterinary quarantine centre opens pathways in livestock trade. Mining and mineral processing offer prospects to capitalise on Oman's rich natural resources. Financial institutions like Sohar International Bank stand ready to support these ventures through joint ventures and PPP models. To maximise EZAD's potential, strategic enhancements are essential. Improving customs protocols with Saudi Arabia, adopting single-window systems, and integrating digital documentation will streamline cross-border trade. Utility infrastructure, including reliable energy, water, and telecommunications, must be fortified to support industrial activity. OPAZ has also tendered projects for an administrative and commercial complex featuring a hotel, clinic, administration building, business centre and mall. Promotion of EZAD should leverage its unique Oman-Saudi identity. Establishing an annual Al Dhahirah Economic Forum could serve as a dynamic platform to showcase investment opportunities. Additionally, academic and vocational training partnerships will be pivotal in cultivating a skilled workforce tailored to the zone's specialised industries. Facilitating technology transfers and fostering innovation clusters will further elevate EZAD's global competitiveness. In conclusion, the Al Dhahirah Economic Zone stands as a strategic nexus for Oman's economic diversification, regional integration, and global engagement. Its strategic location, investor-friendly policies, comprehensive infrastructure, and deep-rooted Oman-Saudi collaboration make it a beacon of sustainable growth and investment. As Oman advances toward its Vision 2040 goals, EZAD is poised to play a transformative role in shaping a resilient, diversified, and globally competitive economy. Its success will not only benefit Oman but also serve as a testament to the power of visionary leadership, collaborative governance, and shared prosperity.
Observer
4 days ago
- Business
- Observer
EZAD: Anchoring investments for a diversified future
Oman's economic landscape is undergoing a profound transformation guided by Vision 2040, the Sultanate of Oman's strategic roadmap towards a diversified, knowledge-driven economy. Central to this vision is the Al Dhahirah Economic Zone (EZAD), a flagship initiative that reflects Oman's commitment to redefining its economic narrative and deepening regional integration within the GCC. EZAD is more than just an economic zone; it is a symbol of visionary policy, geographic advantage, and sustainable development. Situated in the Al Dhahirah Governorate, just 20 kilometers from the Rub Al Khali border crossing with Saudi Arabia, EZAD strategically positions Oman as a gateway to the $1.6 trillion GCC market. This proximity enables seamless overland trade, substantially reducing transportation costs and delivery times for businesses accessing the Saudi market and beyond. The newly established direct Oman-Saudi road has already driven a remarkable 350% increase in bilateral trade between 2022 and 2024, reaching nearly RO 2.18 billion. This momentum underscores the immense potential EZAD holds in enhancing trade flows and industrial collaboration across borders. The Public Authority for Special Economic Zones and Free Zones (OPAZ) plays a pivotal role in steering the development of EZAD. The zone encompasses a total area of 388 km², with OPAZ currently focused on Phase 1A, which spans 7.5 km² as part of the initial urgent development stage. This phase includes essential facilities such as the dry port and a dedicated veterinary quarantine centre. Through a robust regulatory framework and a streamlined 'one-stop shop' service, OPAZ ensures a highly investor-friendly environment. Investors benefit from a suite of competitive incentives including 100% foreign ownership, tax holidays of up to 30 years, duty exemptions on equipment and raw materials, and full repatriation of profits. These advantages firmly position EZAD as a leading investment destination within the Middle East. Aligned with Oman's economic diversification objectives, EZAD is purposefully designed to cultivate sectors beyond hydrocarbons. Key industries targeted include clean and renewable energy, high-precision manufacturing, logistics, and advanced manufacturing that demand sophisticated infrastructure and specialised facilities. EZAD is poised to emerge as a regional logistics hub, featuring a 4 km² dry port managed by Asyad Group on behalf of the Omani government. The first phase of the dry port development covers 1 km² and will include customs facilities, bonded warehouses, and container handling infrastructure. Smart city innovations, such as solar-powered lighting and intelligent traffic management systems, underline the zone's commitment to sustainability and operational efficiency. To support this expansive vision, RO 122 million has been secured for comprehensive infrastructure development, encompassing roads, drainage systems, and connectivity enhancements. Specifically, RO 22.3 million has been allocated for Phase 1, ensuring the foundational infrastructure is in place to catalyse growth and investor confidence. The zone's commitment to empowering local businesses is clear. Contracts stipulate significant subcontracting opportunities for Omani SMEs, with over RO 10 million earmarked for local enterprises. This strategy not only fosters job creation and skill development but also embeds SMEs into regional supply chains, contributing to Oman's broader economic objectives. EZAD exemplifies Oman-Saudi collaboration. A joint executive committee oversees the zone's development, fostering mutual investments, regulatory alignment, and business facilitation. Discussions on establishing a joint Saudi-Omani operating company further solidify this bilateral partnership, reducing investor risks and enhancing regional cooperation. While the zone's primary focus is regional, it actively seeks investments from Asia—particularly China and India—as well as Europe. Oman's stable investment climate, strategic logistics positioning, and connectivity to Gulf and African markets present compelling advantages for international investors. The zone is an ideal base for distribution centres, cold storage facilities, and third-party logistics operations. Diverse investment opportunities await both local and international players. Agro-processing units can leverage Al Dhahirah's agricultural potential, while the veterinary quarantine centre opens pathways in livestock trade. Mining and mineral processing offer prospects to capitalise on Oman's rich natural resources. Financial institutions like Sohar International Bank stand ready to support these ventures through joint ventures and PPP models. To maximise EZAD's potential, strategic enhancements are essential. Improving customs protocols with Saudi Arabia, adopting single-window systems, and integrating digital documentation will streamline cross-border trade. Utility infrastructure, including reliable energy, water, and telecommunications, must be fortified to support industrial activity. OPAZ has also tendered projects for an administrative and commercial complex featuring a hotel, clinic, administration building, business centre and mall. Promotion of EZAD should leverage its unique Oman-Saudi identity. Establishing an annual Al Dhahirah Economic Forum could serve as a dynamic platform to showcase investment opportunities. Additionally, academic and vocational training partnerships will be pivotal in cultivating a skilled workforce tailored to the zone's specialised industries. Facilitating technology transfers and fostering innovation clusters will further elevate EZAD's global competitiveness. In conclusion, the Al Dhahirah Economic Zone stands as a strategic nexus for Oman's economic diversification, regional integration, and global engagement. Its strategic location, investor-friendly policies, comprehensive infrastructure, and deep-rooted Oman-Saudi collaboration make it a beacon of sustainable growth and investment. As Oman advances toward its Vision 2040 goals, EZAD is poised to play a transformative role in shaping a resilient, diversified, and globally competitive economy. Its success will not only benefit Oman but also serve as a testament to the power of visionary leadership, collaborative governance, and shared prosperity. Dr Yousuf Hamed al Balushi The writer is founder and CEO - Smart Investment Gateway, economists, board adviser & business transformation mentor.
Zawya
17-07-2025
- Business
- Zawya
Investing the Omani way: Steady and sustainable
Institutions such OIA, Invest Oman, and OPAZ provide structured support, policy clarity and investor facilitation across sectors As investors around the world adapt to a changing landscape marked by uncertainty, rising costs and shifting priorities, the search for stability has become paramount. In this context, Oman's measured and values-driven approach is drawing increasing interest. The Sultanate of Oman is positioning itself not only as an attractive investment destination — but as a country offering clarity, consistency and long-term value. Quiet Growth, Strong Fundamentals In a region shaped by rapid transformation, Oman stands out for its intentional and grounded approach. Rather than competing for visibility, the country has focused on building trust and resilience — appealing to investors looking beyond short-term gains. According to official data, foreign direct investment (FDI) into Oman rose by 16.2 per cent year-on-year, reaching RO 26.68 billion by Q3 2024, up from RO 22.96 billion during the same period the year before. Strategic Institutions and Projects Oman's investment environment is strengthened by the role of key institutions such as the Oman Investment Authority (OIA), Invest Oman, and the Public Authority for Special Economic Zones and Free Zones (OPAZ). These bodies provide structured support, policy clarity and investor facilitation across sectors. Recent developments include: a $30-billion green hydrogen programme, with major projects underway in Duqm and Salalah; the launch of 15 new public-private partnership (PPP) projects in 2024; and continued industrial and logistics expansion in Suhar, Khazaen and Salalah. These are not isolated announcements — they are part of a coherent national strategy linking diversification with long-term resilience. Institutions such OIA, Invest Oman, and OPAZ provide structured support, policy clarity and investor facilitation across sectors Sustainability with Local Roots Environmental stewardship in Oman is not driven by trend but by tradition. From water conservation practices to mountain ecosystems, sustainability has long been embedded in Omani life. In policy terms, the country jumped from 149th to 50th in the 2024 Environmental Performance Index (EPI) — a major rise backed by reforms in pollution control, ecosystem protection and renewable energy policy. Oman has also committed to Net-Zero carbon emissions by 2050, with guidance from the Oman Sustainability Centre. This alignment between vision and values is increasingly important to ESG-driven investors. Innovation That Respects Identity Oman is embracing innovation — but doing so on its own terms. The National Digital Economy Strategy targets a 10-per cent contribution to GDP by 2040, led by growth in fintech, e-government and smart logistics. In parallel, eco-tourism grew by 46 per cent in 2023, reflecting the rising appeal of cultural authenticity, coastal nature and heritage-based travel. In both technology and tourism, Oman is innovating in ways that preserve identity and add long-term value. A Culture of Genuine Partnership What distinguishes Oman is not only what it builds — but how it builds it. Investors frequently note the accessibility of decision-makers, the responsiveness of institutions and the emphasis on listening. This culture of engagement is not simply hospitable; it is strategic. Oman recognises that lasting investment requires more than incentives — it requires trust. Key Strategic Takeaways • Oman is delivering consistent FDI growth despite global uncertainty. • Green hydrogen, PPPs and digital economy projects are key drivers of diversification. • Sustainability is backed by cultural heritage and bold climate policy. • Innovation is pursued with local identity and long-term impact in mind. • The investment climate is shaped by transparency, humility and strategic intent. A Model for Uncertain Times While some economies move fast to attract attention, Oman is moving deliberately to build resilience. Its approach may be quieter, but it is also smarter — especially for investors who value depth over spectacle and coherence over volatility. In a world of distractions, Oman's steady, strategic and sustainable model stands out — and investors are taking notice. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
16-07-2025
- Business
- Observer
Investing the Omani way: Steady and sustainable
As investors around the world adapt to a changing landscape marked by uncertainty, rising costs and shifting priorities, the search for stability has become paramount. In this context, Oman's measured and values-driven approach is drawing increasing interest. The Sultanate of Oman is positioning itself not only as an attractive investment destination — but as a country offering clarity, consistency and long-term value. Quiet Growth, Strong Fundamentals In a region shaped by rapid transformation, Oman stands out for its intentional and grounded approach. Rather than competing for visibility, the country has focused on building trust and resilience — appealing to investors looking beyond short-term gains. According to official data, foreign direct investment (FDI) into Oman rose by 16.2 per cent year-on-year, reaching RO 26.68 billion by Q3 2024, up from RO 22.96 billion during the same period the year before. Strategic Institutions and Projects Oman's investment environment is strengthened by the role of key institutions such as the Oman Investment Authority (OIA), Invest Oman, and the Public Authority for Special Economic Zones and Free Zones (OPAZ). These bodies provide structured support, policy clarity and investor facilitation across sectors. Recent developments include: a $30-billion green hydrogen programme, with major projects underway in Duqm and Salalah; the launch of 15 new public-private partnership (PPP) projects in 2024; and continued industrial and logistics expansion in Suhar, Khazaen and Salalah. These are not isolated announcements — they are part of a coherent national strategy linking diversification with long-term resilience. Institutions such OIA, Invest Oman, and OPAZ provide structured support, policy clarity and investor facilitation across sectors Sustainability with Local Roots Environmental stewardship in Oman is not driven by trend but by tradition. From water conservation practices to mountain ecosystems, sustainability has long been embedded in Omani life. In policy terms, the country jumped from 149th to 50th in the 2024 Environmental Performance Index (EPI) — a major rise backed by reforms in pollution control, ecosystem protection and renewable energy policy. Oman has also committed to Net-Zero carbon emissions by 2050, with guidance from the Oman Sustainability Centre. This alignment between vision and values is increasingly important to ESG-driven investors. Innovation That Respects Identity Oman is embracing innovation — but doing so on its own terms. The National Digital Economy Strategy targets a 10-per cent contribution to GDP by 2040, led by growth in fintech, e-government and smart logistics. In parallel, eco-tourism grew by 46 per cent in 2023, reflecting the rising appeal of cultural authenticity, coastal nature and heritage-based travel. In both technology and tourism, Oman is innovating in ways that preserve identity and add long-term value. A Culture of Genuine Partnership What distinguishes Oman is not only what it builds — but how it builds it. Investors frequently note the accessibility of decision-makers, the responsiveness of institutions and the emphasis on listening. This culture of engagement is not simply hospitable; it is strategic. Oman recognises that lasting investment requires more than incentives — it requires trust. Key Strategic Takeaways • Oman is delivering consistent FDI growth despite global uncertainty. • Green hydrogen, PPPs and digital economy projects are key drivers of diversification. • Sustainability is backed by cultural heritage and bold climate policy. • Innovation is pursued with local identity and long-term impact in mind. • The investment climate is shaped by transparency, humility and strategic intent. A Model for Uncertain Times While some economies move fast to attract attention, Oman is moving deliberately to build resilience. Its approach may be quieter, but it is also smarter — especially for investors who value depth over spectacle and coherence over volatility. In a world of distractions, Oman's steady, strategic and sustainable model stands out — and investors are taking notice.
