Tuesday 15 / April / 2025
Muscat : The Public Authority for Special Economic Zones and Free Zones revealed during its annual media briefing that cumulative investment in economic, free, and industrial zones rose to approximately OMR 21 billion by the end of 2024, marking a 10 percent increase over its level at the end of 2023.
His Excellency Sheikh Dr. Chairman of the Public Authority for Special Economic Zones and Free Zones:" The volume of committed investments in the Special Economic Zone at Duqm rose by the end of 2024 to OMR 6.3 billion , recording a growth of 5 percent. In the free zones, it rose to OMR 6.6 billion . The industrial cities recorded a committed investment volume of approximately OMR 7.6 billion , while investments in Khazaen Economic City grew by 18.8 percent, exceeding more than OMR half a billion .
"The contribution of economic, free, and industrial zones to the GDP in 2022 amounted to 7.5 percent, and the value of exports from these zones exceeded OMR 4.5 billion , representing 17.9 percent of the total value of exports in the Sultanate of Oman."
His Excellency pointed out that the number of projects under negotiation increased over the past year to 180 projects across various economic sectors, including medical and pharmaceutical industries, food and fisheries industries, renewable energy-related industries, petrochemical industries, and others.
"The Authority continues to develop new economic and free zones and industrial cities, including the Muscat International Airport Free Zone, the Integrated Economic Zone in Al Dhahirah Governorate, and Raysut Industrial City."
"Over the past year, 3,597 Omani citizens were appointed to projects operating in these regions, bringing the total number of national workers in these regions to more than 29,000, with an Omanization rate of 37 percent."
"Over the past year, the Authority completed the consultancy study for the project to develop a renewable energy zone in Special Economic Zone at Duqm , and Sur Industrial City adopted the Green Belt Project with the aim of creating green spaces that contribute to reducing carbon emissions and implementing the environmental sustainability plan in the region."
His Excellency added that the Authority has taken the initiative to unify the services provided to investors through electronic linkage with relevant government agencies to facilitate procedures and achieve greater transparency, and to grant additional incentives to investors, including reducing the rental price of heavy and medium industrial lands, especially in cities.
