Sezad highlights Duqm opportunities

Business Monday 10/September/2018 17:23 PM
By: Times News Service
Sezad highlights Duqm opportunities

Tokyo: The promotion campaign on the Special Economic Zone in Duqm (SEZD) kicked off in Tokyo on Monday. Yahya bin Said Al Jabri, Chairman of the Special Economic Zone Authority in Duqm (Sezad) said that this campaign comes as part of the efforts made by the Sultanate and Japan to enhance their economic ties.
In a speech delivered at Invest in Duqm seminar held at the Japanese capital, Tokyo, Al Jabri said that the strategic location and political stability in Oman, Duqm proximity to Asian and African markets, as well as Gulf Cooperation Council (GCC) markets qualify it to be an economic and investment hub in the region.
He added that the Sultanate enjoys all potentials that encourage investors to invest in Oman and offers many incentives. As more as 100 Japanese investors attended the seminar.
Yoji Muto, Japanese State Minister of Economy, Trade and Industry announced in his speech during the seminar that Japan would contribute in Duqm projects through Japan Bank for International Cooperation (JBIC).
He said that Japan hoped to deepen relations between the two countries and affirmed that the Sultanate is a very important country to Japan in all fields. He also called on the Omani side to benefit from Japanese technological progress in plans of economic diversification.
He also highlighted celebration of the Sultanate and Japan during this year of establishing the diplomatic relations between the two countries more than 40 years ago, as well as the visit of Shinzo Abe, Prime Minister of Japan to the Sultanate in January 2014. During the visit, the Japanese Premier met with His Majesty Sultan Qaboos Bin Said.
A memorandum of understanding (MoU) on dialogue and political consultations was also signed during that visit between the foreign ministries of the two countries.
Visual presentations were given during the seminar. The presentations focused on investment environment in the Sultanate, incentives and facilities offered to investors.
Saleh bin Hamood Al Hassani, Director General of Investor Services at Sezad said that the zone enjoys many incentives as it is considered the largest economic zone in the Middle East.
He added that the zone stretches over 2000 square kilometres. He also highlighted tax and non-tax incentives offered by the Sezad to investors.
Muhanna Al Sinani, Investment Promotion Executive at the Public Authority for Investment Promotion and Export Development (Ithraa) gave a briefing on the Sultanate's investment incentives, as well as the efforts being exerted by Ithraa to attract investments.
Reggy Vermeulen, CEO of Port of Duqm Company talked during his visual presentation about the port's potentials as it is a multi-purpose port, its future role in supporting the SEZD and the facilities provided by the port to enhance logistic, industrial and trade sectors in the zone.
Hilal Al Kharousi, Executive Managing Director at Oman Oil Company touched on the company's projects in Duqm, the most important of which are Duqm Refinery, Ras Markaz Terminal for crude oil storage and gas supply in the zone.
Haitham bin Nasser Al Ta'ee, Managing Director of Finance at Oman Drydock Company highlighted incentives and the activity being witnessed by the drydock, as well as services provided to vessels.