Latest news with #Omani-Emirati
Muscat Daily
26-05-2025
- Business
- Muscat Daily
Oman, UAE sign deal to develop SEZ in Mahdah
Muscat – Public Authority for Special Economic Zones and Free Zones (OPAZ) and Mahadha Development Company, a joint Omani-Emirati venture led by DP World, have signed an agreement to develop and operate the first phase of Al Rawdah Special Economic Zone in Mahdah, Buraimi. The signing ceremony was held in the presence of H H Sayyid Theyazin bin Haitham al Said, Minister of Culture, Sports and Youth, and Sheikh Hamdan bin Mohammed bin Rashid al Maktoum, Crown Prince of Dubai, and Deputy Prime Minister and Minister of Defence of the United Arab Emirates (UAE). The agreement was signed by Ahmed bin Hassan al Dheeb, Vice-Chairman of OPAZ, and Sultan Ahmed bin Sulayem, Chairman and CEO of DP World. According to Dheeb, the special economic zone (SEZ) aims to support job creation, attract advanced technologies and contribute to sustainable development. He noted that its strategic location on the Oman-UAE border provides access to the ports of Suhar and Jebel Ali, improving logistics and market reach across Gulf, Asian and African regions. Sulayem described the project as a 'new chapter' in the economic relations between Oman and the UAE. 'We are committed to developing a world-class platform that will create new opportunities for growth, strengthen connectivity and bring long-term economic value to both our nations.' Under a 50-year usufruct agreement, Mahadha Development Company will initially develop 14sqkm, with the option to expand to 25sqkm. The developer is responsible for infrastructure, public utilities, environmental studies, and master planning covering industrial, commercial and service sectors. The first phase will target key industries including manufacturing, logistics, pharmaceuticals, mining, food processing, plastics and safety services. The SEZ will offer investment incentives including a ten-year income tax exemption, customs duty waivers on imports and exports, and 100% foreign ownership. Strategic projects will benefit from single-window approvals. The project also aims to support tourism, enhance the region's business environment, and create opportunities for small and medium enterprises.
Observer
26-05-2025
- Business
- Observer
Oman, UAE sign deal to launch Al-Rawdah SEZ
MUSCAT: The Public Authority for Special Economic Zones and Free Zones (OPAZ) has entered into a landmark agreement with Mahdah Development Company—an Omani-Emirati partnership represented by DP World—to develop and operate the first phase of the Al-Rawdah Special Economic Zone in Al Buraimi Governorate. The signing ceremony was held in the presence of His Highness Sayyid Theyazin bin Haitham al Said, Minister of Culture, Sports, and Youth, and His Highness Shaikh Hamdan bin Mohammed bin Rashid al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defense of the United Arab Emirates. Signing on behalf of OPAZ was Eng Ahmed bin Hassan al Dheeb, Vice-Chairman of OPAZ, while Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, represented the Emirati side. Eng Ahmed al Dheeb emphasised that the Al-Rawdah Special Economic Zone is a strategic initiative aligned with the goals of Oman Vision 2040. He noted that the project is designed to create employment opportunities, attract cutting-edge technologies, and promote a sustainable, business-friendly environment. The zone's location in Wilayat Mahdah, strategically positioned at the crossroads between Oman and the United Arab Emirates, ensures direct connectivity to Sohar Port and Jebel Ali Port. This geographic advantage is expected to enhance logistics efficiency, reduce operational costs, and improve market access across the Gulf, Asia, and Africa. Sultan Ahmed bin Sulayem described the project as a new chapter in economic cooperation between Oman and the UAE. He reiterated DP World's commitment to developing a world-class trade and investment hub in partnership with OPAZ and Omani stakeholders. The project, he said, will serve as a platform for sustainable and diversified economic growth while deepening commercial ties between the two countries. Under the 50-year usufruct agreement, Mahdah Development Company will initially develop 14 square kilometers of the zone, with the potential to expand to 25 square kilometers in a second phase, subject to a detailed development plan. The company is tasked with delivering core infrastructure, including road networks, water and sewage systems, and other public utilities. It will also prepare a comprehensive master plan, conduct environmental assessments, and outline zoning layouts for industrial, logistics, commercial, and service sectors. The first phase will focus on attracting investment in key sectors such as manufacturing, logistics and warehousing, pharmaceuticals, plastics, mining, food processing, and safety and security services. This multi-sectoral approach is expected to attract high-value investors and support long-term business viability. To incentivize investment, Al-Rawdah Special Economic Zone will offer a host of benefits, including a 10-year income tax exemption extendable for two additional terms, customs duty exemptions on imports, exports, and stored goods, and streamlined licensing and permitting through a one-stop shop. Foreign investors will be permitted 100% ownership of their enterprises, while strategic projects will benefit from a single-window approval process for establishment and operation. In addition to its economic and trade focus, the zone is positioned to facilitate supply chain development and re-export activities between Oman, the UAE, and broader global markets. It is also expected to enhance lifestyle offerings, promote tourism, and support business diversification within Mahdah and the wider Al Buraimi Governorate. The initiative is seen as a catalyst for job creation and small and medium enterprise (SME) development in the region. The signing of the agreement reinforces Oman's commitment to economic diversification, strengthening strategic partnerships, and attracting quality investments in alignment with the long-term aspirations of Oman Vision 2040.
Observer
26-05-2025
- Business
- Observer
Oman-UAE pact for special economic zone in Buraimi
Muscat: The Public Authority for Special Economic Zones and Free Zones and Mahdha Development Company (an Omani-Emirati partnership) signed an agreement to develop and operate the first phase of Rawdha Special Economic Zone in Al Buraimi Governorate. The agreement stipulates that the developer will establish public facilities and infrastructure, such as roads, water supply, wastewater networks, and other services. The agreement also stipulates the preparation of a master plan, environmental studies, and preliminary design for the allocated area of 14 sq km in the first phase, expandable to 25 sq km in the second phase The developer will target economic activities in the first phase, mostly logistics, warehousing, pharmaceutical, medical, plastics, mining, and food industries, as well as security and safety services, in addition to providing one-stop-shop services.
Zawya
02-05-2025
- Business
- Zawya
Work on Oman-UAE rail project gathers pace
Muscat: Work is ongoing at a steady pace on the UAE-Oman Rail Network project with heavy earth movers and other equipment being used to lay the railway tracks. In a tweet, Hafeet Rail said: 'Everyday marks new progress on the path to connecting Oman and the UAE through the Hafeet Rail network. Stay tuned as we build the future of regional connectivity!' Hafeet Rail is the developer and operator of the Omani-Emirati railway network. © Muscat Media Group Provided by SyndiGate Media Inc. (
