Sunday 19 / January / 2025
Muscat: The Public Establishment for Industrial Estates (Madayn) has inaugurated Al Mazunah Economic Exhibition and Forum in Al Mazunah Free Zone in Dhofar Governorate on Sunday, bringing together over 100 local and global companies.
The inaugural event was held under the auspices of His Highness Sayyid Marwan bin Turki Al Said, Governor of Dhofar, and in the presence of Sheikh Dr. Ali bin Masoud Al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (Opaz), along with their excellencies, officials from public and private sectors, and investors from within Oman and abroad.
Organised by Madayn in cooperation with Opaz and Oman Chamber of Commerce and Industry (OCCI) in Dhofar, the event runs until January 23 and aims to strengthen trade relations between Oman and Yemen. It also serves as an ideal platform for companies to explore investment opportunities, build strategic partnerships, and expand their presence in regional markets.
Speaking at the opening ceremony, Eng. Ahmed bin Khamis Al Kasbi, Director-General of Al Mazunah Free Zone, highlighted the event’s significance as a premier platform to showcase the free zone’s vast potential. Established as Oman’s first free zone, Al Mazunah Free Zone serves as a gateway to Yemeni and regional markets. “Al Mazunah Free Zone has witnessed substantial progress in infrastructure and electronic services in recent years, making the free zone a preferred destination for investors,” Al Kasbi said, adding: “The free zone offers comprehensive facilities, including roads, electricity, water and telecom networks, in addition to warehousing and transport facilities. Its strategic location near Yemen’s border positions the free zone as a key hub for regional trade and economic activity.”
Additionally, Al Kasbi emphasised that the free zone’s advanced electronic systems are designed to streamline operations, such as the ‘Eddah System’ for effective customs operations and logistics solutions, electronic gates for smooth movement of goods and individuals, and a one-stop service centre for integrated government and administrative services. Additionally, the free zone features a dry port offering integrated customs and handling services, which eventually boost its logistics efficiency and trade movement.
To encourage investment environment, Opaz and Madayn have introduced key incentives that reaffirm the government’s commitment to support investors, attract new investments and promote sustainable economic growth. Al Kasbi hailed the key role played by the Royal Oman Police in implementing advanced systems to streamline security and administrative procedures, and recognised the constant cooperation of various government bodies to achieve a supportive business environment.
He further noted that the key incentives include exempting investors from accumulated debts by 30%, and a 50% reduction in rental costs for existing and new investors. These incentives aim at increasing the free zone’s competitiveness and investment appeal.
On his part, Said Zabanoot, Director of Investor Services in Al Mazunah Free Zone, said that this event comes along the lines of the free zone’s vision to enhance the Sultanate’s competitiveness in attracting regional and global investments. Moreover, Hilal Al Rashdi, Investors Relations’ Specialist at OPAZ, detailed the authority’s overseeing of 22 economic and free zones spanning over 2,200 square kilometers. Al Rashdi also provided insights into the Authority’s commitment to the functions of ‘planning and development’, ‘regulation and supervision’, in addition to efforts undertaken in marketing, attracting investments, and operational acceleration through forging strategic partnerships.
Al Mazunah Economic Exhibition and Forum provides a significant opportunity for businesses to showcase their services and products, build strategic partnerships, and explore regional market opportunities. The event has attracted companies across various sectors, including logistics, automotive, manufacturing, import-export, food supply, and SMEs. Notably, Yemeni traders and visitors can participate in the exhibition without requiring entry visas, needing only an electronic permit. This initiative reinforces the free zone’s commitment to fostering trade collaboration and economic integration between the Sultanate and Yemen.
