Musandam set to get massive investment boost
Investors in tourism projects are exempted from paying fees and taxes for a certain period
Published: 04:07 PM,Jul 14,2021 | EDITED : 08:07 PM,Jul 14,2021
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KHASAB: The strategic location of the Governorate of Musandam, which overlooks the Strait of Hormuz, with its islands and bays makes it unique compared to the rest of the Sultanate's governorates.
Dr Said Humaid al Harthy, Wali of Khasab, said that the Governorate of Musandam receives great attention from His Majesty Sultan Haitham bin Tarik. He added that the recent royal directives focus on the development the Governorate to make it a hub for local and international investors.
He explained that the governorate receives investors who are keen to view the available investment opportunities and incentives, particularly in the tourism sector, pointing out that investors in tourism projects are exempted from paying fees and taxes for a certain period.
This year, RO 3.5 million will be spent on the development of the Governorate, said Dr Said, who added that there are other development projects to be implemented by the private sector as part of the social responsibility.
The Wali of Khasab said, 'The Governorate of Musandam will witness a focus on entertainment and shopping projects. The Governor’s Office, represented by the Municipality of Musandam works on building parks and walkways. Once the university and the hospital projects are completed, there will be an environment that attracts commercial investments in the Governorate, which in turn will boost the shopping power.
The projects in the Governorate also include constructing a port in the Wilayat of Diba, in addition to other projects, such as the new sea front and parks.
In the Wilayat of Bukha, several touristic facilities are undergoing development such as Hul park, with camping sites on its beach. More projects are soon to be launched in the wilaya. -- ONA
Dr Said Humaid al Harthy, Wali of Khasab, said that the Governorate of Musandam receives great attention from His Majesty Sultan Haitham bin Tarik. He added that the recent royal directives focus on the development the Governorate to make it a hub for local and international investors.
He explained that the governorate receives investors who are keen to view the available investment opportunities and incentives, particularly in the tourism sector, pointing out that investors in tourism projects are exempted from paying fees and taxes for a certain period.
This year, RO 3.5 million will be spent on the development of the Governorate, said Dr Said, who added that there are other development projects to be implemented by the private sector as part of the social responsibility.
The Wali of Khasab said, 'The Governorate of Musandam will witness a focus on entertainment and shopping projects. The Governor’s Office, represented by the Municipality of Musandam works on building parks and walkways. Once the university and the hospital projects are completed, there will be an environment that attracts commercial investments in the Governorate, which in turn will boost the shopping power.
The projects in the Governorate also include constructing a port in the Wilayat of Diba, in addition to other projects, such as the new sea front and parks.
In the Wilayat of Bukha, several touristic facilities are undergoing development such as Hul park, with camping sites on its beach. More projects are soon to be launched in the wilaya. -- ONA