OPAZ enhances incentives to attract global investors
Published: 03:08 PM,Aug 21,2024 | EDITED : 07:08 PM,Aug 21,2024
The Special Economic Zone at Duqm covers an area of 2000 sq kms, including 90 kms of coastline, making it an ideal hub for regional and international operations.
The Sultanate of Oman's strategic location at the crossroads of Asia, Africa, and Europe makes it a compelling hub for international trade. The Public Authority for Special Economic Zones and Free Zones (OPAZ) — established under Royal Decree No. 105/2020, issued on August 18, 2020 — oversees key zones, including the Special Economic Zone at Duqm, and free zones in Suhar, Salalah, and Al Mazunah. OPAZ is committed to fostering a competitive business environment, providing a range of incentives and benefits to companies operating within its jurisdiction. This commitment is evident in the diverse offerings tailored to meet the needs of investors.
One of the most attractive features for investors is the zero import and re-export duties, significantly reducing operational costs. This, combined with tax exemptions, positions Oman as a cost-effective destination for businesses looking to maximise their return on investment.
OPAZ provides developed plots and well-equipped warehouses, ensuring that companies have access to the infrastructure necessary for efficient operations. The availability of various real estate solutions further enhances the ease of establishing and expanding business activities in the region.
The fast-tracked issuance of investor residence within 48 hours exemplifies OPAZ's commitment to facilitating a smooth entry process for international investors. Coupled with expedited procedures for skilled worker recruitment, businesses can quickly establish a foothold and scale operations effectively.
Investors are offered 100 per cent foreign ownership, a significant incentive that empowers companies to retain full control over their ventures. This policy is complemented by the availability of a variety of land areas for investment, catering to diverse business needs across industrial, commercial, and tourism sectors.
OPAZ’s one-stop shop for all permits and licenses simplifies the bureaucratic process, allowing investors to focus on business growth rather than paperwork. The integration of economic diversity within these zones supports a wide range of activities, from manufacturing to tourism, offering investors multiple avenues for expansion.
Qualified national cadres and integrated industrial complexes provide a robust support system, ensuring that businesses have access to skilled labour and state-of-the-art facilities. Additionally, raw material warehouses enhance operational efficiency by facilitating easy procurement and management of essential resources.
Oman's strategic location offers easy access to target markets across the Middle East, Asia, and Africa. This geographical advantage, paired with the comprehensive incentives offered by OPAZ, makes Oman an ideal base for regional and international operations.
Additionally, under Royal Decree No. 53/2022, issued on June 28, 2022, OPAZ also oversees the Public Establishment for Industrial Estates (Madayn), further expanding its role in driving economic growth. Through its competitive incentives and strategic initiatives, OPAZ is reinforcing Oman's position as a key player in the global market, making it a compelling choice for businesses worldwide.
One of the most attractive features for investors is the zero import and re-export duties, significantly reducing operational costs. This, combined with tax exemptions, positions Oman as a cost-effective destination for businesses looking to maximise their return on investment.
OPAZ provides developed plots and well-equipped warehouses, ensuring that companies have access to the infrastructure necessary for efficient operations. The availability of various real estate solutions further enhances the ease of establishing and expanding business activities in the region.
The fast-tracked issuance of investor residence within 48 hours exemplifies OPAZ's commitment to facilitating a smooth entry process for international investors. Coupled with expedited procedures for skilled worker recruitment, businesses can quickly establish a foothold and scale operations effectively.
Investors are offered 100 per cent foreign ownership, a significant incentive that empowers companies to retain full control over their ventures. This policy is complemented by the availability of a variety of land areas for investment, catering to diverse business needs across industrial, commercial, and tourism sectors.
OPAZ’s one-stop shop for all permits and licenses simplifies the bureaucratic process, allowing investors to focus on business growth rather than paperwork. The integration of economic diversity within these zones supports a wide range of activities, from manufacturing to tourism, offering investors multiple avenues for expansion.
Qualified national cadres and integrated industrial complexes provide a robust support system, ensuring that businesses have access to skilled labour and state-of-the-art facilities. Additionally, raw material warehouses enhance operational efficiency by facilitating easy procurement and management of essential resources.
Oman's strategic location offers easy access to target markets across the Middle East, Asia, and Africa. This geographical advantage, paired with the comprehensive incentives offered by OPAZ, makes Oman an ideal base for regional and international operations.
Additionally, under Royal Decree No. 53/2022, issued on June 28, 2022, OPAZ also oversees the Public Establishment for Industrial Estates (Madayn), further expanding its role in driving economic growth. Through its competitive incentives and strategic initiatives, OPAZ is reinforcing Oman's position as a key player in the global market, making it a compelling choice for businesses worldwide.