Al Mazunah: The Public Establishment for Industrial Estates 'Madayn' has inaugurated Al Mazunah Economic Exhibition and Forum in Al Mazunah Free Zone in Dhofar Governorate today, bringing together over 100 local and global companies. The inaugural event was held under the auspices of HH 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 the Sultanate of Oman and abroad.
According to Oman News Agency, organised by Madayn in cooperation with OPAZ and Oman Chamber of Commerce and Industry (OCCI) in Dhofar, the event runs until 23 January 2025. It 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. Eng. Al Kasbi emphasized the zone's progress in infrastructure and electronic services, positioning it as a preferred destination for investors. The free zone offers comprehensive facilities, including roads, electricity, water, and telecom networks, in addition to warehousing and transport facilities.
Furthermore, Al Kasbi underlined the advanced electronic systems designed to streamline operations within the free zone. These include 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. The free zone also features a dry port offering integrated customs and handling services, which enhances its logistics efficiency and trade movement.
To foster an encouraging investment environment, OPAZ and Madayn have introduced key incentives that reflect the government's commitment to supporting investors, attracting new investments, and promoting sustainable economic growth. Al Kasbi acknowledged the role of the Royal Oman Police in implementing advanced systems to streamline security and administrative procedures, and the collaboration of various government bodies to create a supportive business environment.
He further explained that incentives include a 30% exemption from accumulated debts for investors and a 50% reduction in rental costs for existing and new investors. These incentives are aimed at boosting the free zone's competitiveness and appeal to investors.
Said Zabanoot, Director of Investor Services in Al Mazunah Free Zone, noted that this event aligns with the free zone's vision to enhance Oman's competitiveness in attracting regional and global investments. Hilal Al Rashdi, Investors Relations' Specialist at OPAZ, detailed the Authority's oversight of 22 economic and free zones that span over 2,200 square kilometers.
Al Rashdi also shared insights into the Authority's commitment to planning and development, regulation and supervision, as well as efforts in marketing, attracting investments, and accelerating operations through strategic partnerships.
The Al Mazunah Economic Exhibition and Forum is a significant opportunity for businesses to showcase services and products, build partnerships, and explore regional market opportunities. The event has attracted companies across sectors such as logistics, automotive, manufacturing, import-export, food supply, and SMEs. Yemeni traders and visitors can participate in the exhibition without requiring entry visas, needing only an electronic permit, reinforcing the free zone's commitment to fostering economic integration between Oman and Yemen.
