Monday 18 / November / 2024
Muscat: ASYAD Group has begun construction work on Muscat Airport Free Zone, marking the launch of the first phase of the project, which is a qualitative addition to the region’s infrastructure and aims to enhance its position as a global hub for business and foreign direct investment.
The first phase of the project includes preparing and levelling the land, establishing an internal road network and public service facilities, in addition to an administrative office complex that is expected to be developed in partnership with the private sector.
The project aims to provide a modern and attractive work environment that contributes to attracting global and regional companies, financial institutions, general trading companies and start-ups; which enhances the free zone’s ability as a global business hub that attracts foreign direct investment and provides logistical support and world-class facilities.
This step comes as a confirmation of ASYAD Group’s commitment to accelerating the implementation of its plans to contribute to stimulating economic growth in the Sultanate of Oman. The project’s location next to Muscat International Airport will contribute to enhancing the economic importance of the free zone and achieving its integration within the integrated ASYAD logistics system.
This system connects various land and sea ports, the dry port, and the free and special economic zones, to increase the volume of exports and imports via air freight for products that require fast supply chains such as pharmaceutical products, food products, and e-commerce shipments.
Muscat Airport Free Zone is a strategic project to establish an integrated logistics centre with global capabilities in the field of air freight As the entity responsible for developing and operating the zone, ASYAD Group is working to create an integrated commercial environment that provides packages of tax and customs exemptions and commercial facilities that will make the zone one of the most prominent investment destinations in the region and an international business centre in Muscat Governorate.
Through this project, the group also provides investment opportunities for the private sector by entering into long-term partnerships to develop a number of commercial projects to ensure the stability and sustainability of partner institutions in the long term. This model enhances the development of high-value strategic assets within the free zone.
Faisal bin Ali Al Balushi, Senior Manager of Muscat Airport Free Zone, stressed that the group seeks, in cooperation with its private sector partners, to implement this strategic project, which reflects its commitment to strengthening its partnership to build an air logistics centre in the Sultanate of Oman, drive economic growth, and open new horizons for local and international companies in the logistics sector.
He added that the free zone is an opportunity for the Omani private sector to achieve growth and benefit from the competitive advantages and promising investment opportunities it offers, noting that the group focuses in implementing its projects on contributing to achieving the goals of "Oman Vision 2040", including improving the Sultanate of Oman's ranking in the Global Competitiveness Index.
