RIYADH: Oman’s special economic zones and industrial cities have seen a surge in investments, reaching $43.16 billion in the first six months.
According to Oman News Agency, the Public Authority for Special Economic Zones and Free Zones attracted pioneering projects across various sectors thanks to the favorable investment climate.
Investments in existing industrial cities reached 7.3 billion rials ($19 billion), while the free zone in Salalah Free Zone attracted 4.5 billion rials.
The Duqm SEZ received over 3.8 billion rials in the first six months.
Meanwhile, the Sohar Free Zone bagged investments of 570 million rials, and the Al-Mazunah Free Zone secured over 139 million rials.
The Public Establishment for Industrial Estates, or Madayn, recorded investments exceeding 89 million rials between January and June.
According to ONA, Madayn received 141 new investment requests during this period and issued 843 licenses to run businesses.
Khazaen Economic City signed over 110 investment agreements and received a commitment of 323 million rials between July and September.
In September, the authority announced the tender for the Integrated Economic Zone in Ad Dhahirah, inviting Omani and Saudi companies for consulting services related to the design and supervision of infrastructure facilities before commencing construction.
The SEZ authority aims to attract leading projects in various sectors, such as renewable energy, green hydrogen and iron.
It has provided vast tracts of land for investment, solar and wind energy availability, and logistical infrastructure to support these projects.
Additionally, the authority benefits from investment-friendly legislation and incentives offered to investors.
In October, during the Dhofar Economic Forum, it signed several agreements and memoranda of understanding for nonconventional energy projects.
The authority continues its efforts toward developing and governance of businesses in the areas it oversees.
In the first half of this year, it implemented several initiatives to enhance and develop services for investors.
It incentivized the investment environment by reducing service fees by 50 percent for small and medium enterprises for more than 80 services and reengineering import and export procedures.