Muscat: The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) held its second meeting of the current year today, under the chairmanship of Qais Mohammed Al Yousef, Chairman of the Board. The meeting focused on reviewing previous resolutions and policies aimed at improving institutional performance and achieving sustainable economic growth in line with national priorities.
According to Oman News Agency, the Board also conducted an expanded strategic meeting with CEOs of economic, free, and industrial zones, along with the Asyad Group. The discussions centered on activating the Comprehensive Economic Partnership Agreement (CEPA) with the Republic of India, which seeks to enhance investment flows and trade exchanges. The meeting also addressed plans to develop supply chains, strengthen industrial integration, and leverage Oman's strategic location and port network.
The Authority's five-year plan for 2026-2030 was reviewed, highlighting projects and initiatives designed to attract investments amidst global economic changes. Emphasis was placed on enhancing logistical and industrial roles through advanced infrastructure and maritime connectivity.
A presentation by the Special Economic Zone at Duqm (SEZAD) showcased ongoing and future projects, particularly infrastructure and tourism developments, including a coastal tourism master plan aimed at diversifying economic activities.
The meeting also reviewed developments in new zones such as the Free Zone at Muscat International Airport, the Special Economic Zone at Al Rawdah, and the Special Economic Zone in A'Dhahirah Governorate, focusing on infrastructure progress and investment attraction efforts. Additionally, there were discussions on improving media and institutional communication to enhance promotional messaging.
Dr. Said Khalifa Al Qurini, Director General of Investment Sector Development at OPAZ, emphasized that incentives and investment advantages are crucial for attracting high-value investments and enhancing the competitiveness of Oman's economic zones. He highlighted that clear and flexible incentives can facilitate capital attraction, technology transfer, and job creation, bolstered by benefits like tax exemptions and streamlined processes.
Dr. Ahmed Said Kashoub, a member of OPAZ's Board of Directors, stated that the meeting reflects the Board's commitment to improving institutional coordination and integrating efforts among various entities, supporting economic diversification and performance efficiency. He stressed the importance of accelerating strategic initiatives and international partnerships to boost investment flows and achieve sustainable growth.