Muscat: The Public Establishment for Industrial Estates 'Madayn' has unveiled a new package of incentives for investors and business owners in Al Mazunah Free Zone. The announcement was made during the activities of Al Mazunah Economic Exhibition and Forum, reaffirming Madayn's commitment to enhancing a robust investment environment in the Sultanate of Oman and attracting new investments.

According to Oman News Agency, Eng. Ahmed Khamis Al Kasbi, Director General of Al Mazunah Free Zone, stated that the Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) has approved a set of incentives for the free zone in recognition of the significance of enhancing the investment climate and encouraging investors to expand their operations.

Al Kasbi emphasized that the incentives include a 30% exemption from accumulated debts and a 50% reduction in rental costs for the next five years for both existing and new investors. These measures are aimed at increasing the free zone's competitiveness and enhancing its investment appeal, forming a cornerstone of efforts to support economic growth, and promoting innovation and sustainability.

He further noted that Al Mazunah Free Zone has achieved significant progress in recent years in terms of investment and commercial activity. In 2024, the volume of goods imported to the free zone reached over 240,000 tons, marking an increase of more than 20% compared to the volume recorded in 2023. The free zone serves as a vital gateway for regional trade and a hub for economic activities with its fully developed infrastructure, essential facilities, including road networks, electricity, water and telecom networks, electronic services, warehousing spaces, and transportation services.

Additionally, the Al Mazunah Economic Exhibition and Forum continues its activities with the participation of over 100 local and international companies, providing a platform to explore collaboration and partnership opportunities.