Investment opportunities abound in Dhofar’s industrial and food sectors
Published: 05:08 PM,Aug 24,2024 | EDITED : 09:08 PM,Aug 24,2024
Regarding commercial registrations in Dhofar Governorate, the number reached around 2,560 registrations during the first half of 2024, compared to 2,846 registrations during the same period in 2023.
The Ministry of Commerce, Industry, and Investment Promotion announced that the number of industrial license applications in Dhofar Governorate saw a significant increase during the first half of 2024, with 3,095 applications compared to 1,897 applications during the first half of 2023, marking a 63 per cent increase. Additionally, 5,348 certificates of origin were issued in the first half of 2024 compared to 3,963 certificates during the same period in 2023, reflecting a 34.9 per cent increase.
Regarding commercial registrations in Dhofar Governorate, the number reached around 2,560 registrations during the first half of 2024, compared to 2,846 registrations during the same period in 2023, bringing the total number of registrations in the governorate to 73,520 by the end of the first half of 2024. The number of foreign investment registrations amounted to 253 during the first half of 2024 compared to 744 during the same period in 2023, bringing the total number of registrations to 11,480. Meanwhile, the number of active licenses in Dhofar Governorate reached approximately 127,399 by the end of the first half of 2024.
Increase in Industrial License Applications Mohammed bin Khalifa al Badhrani, Director General of the Directorate General of Commerce, Industry, and Investment Promotion in Dhofar Governorate, stated that the governorate witnessed an increase in industrial license applications, with 1,676 new applications during the first half of 2024 compared to 1,184 applications during the same period in 2023. Al-Badhrani attributed this increase to the investment-friendly environment in Dhofar Governorate, as well as the facilities and incentives offered to investors. The Ministry of Commerce, Industry, and Investment Promotion, in collaboration with relevant authorities, has enabled investors to use the latest smart applications to facilitate investment procedures.
Al-Badhrani added that the highest licensed commercial activities in Dhofar Governorate include the construction and contracting sector, export and import offices, along with a notable increase in licenses for restaurants and cafes, vehicle mechanics, and retail clothing stores.
Empowering the Private Sector in Investments Al-Badhrani emphasized that the Directorate General of Commerce, Industry, and Investment Promotion in Dhofar Governorate is working to enhance the investment climate with the aim of empowering the private sector to attract foreign investments and highlight key investment opportunities in the governorate. Among the most important current investment opportunities are the establishment of a sodium silicate manufacturing project in the Raysut area of Salalah, a steel plant in Salalah for the production of light structural steel billets, and a project for dolomite calcination units in Salalah within the mining industry.
Diverse Investment Opportunities Al-Badhrani pointed out that investment opportunities in Dhofar Governorate are diverse, including fields such as fiberglass boat manufacturing, cement paper bag production, and the manufacturing of formations used in water and soft drink packaging. The agricultural sector in Dhofar also flourishes during the Khareef (monsoon) season due to seasonal rains, which boost food security and positively contribute to the local economy.
Khareef Season as an Investment Stimulus Al-Badhrani explained that the Khareef season presents a significant investment opportunity, as the governorate experiences notable growth in commercial activities during this period. The retail sector, in particular, benefits from the influx of tourists and residents, which stimulates sales and business activities, supporting small and medium enterprises as well as artisanal industries.
Exceptional Advantages Dhofar Governorate enjoys exceptional advantages in the logistics sector due to the presence of Salalah Port and the free zone. The Salalah Free Zone has successfully attracted numerous economic projects, with 127 usufruct agreements signed, totaling an accumulated investment volume of RO 4.5 billion.
Incentives to Attract Investments Al-Badhrani highlighted that Dhofar Governorate offers many incentives to attract investments, including a 30-year income tax exemption, customs exemptions, full foreign ownership rights for investment projects, and other advantages that make the governorate a preferred investment destination.
Regarding commercial registrations in Dhofar Governorate, the number reached around 2,560 registrations during the first half of 2024, compared to 2,846 registrations during the same period in 2023, bringing the total number of registrations in the governorate to 73,520 by the end of the first half of 2024. The number of foreign investment registrations amounted to 253 during the first half of 2024 compared to 744 during the same period in 2023, bringing the total number of registrations to 11,480. Meanwhile, the number of active licenses in Dhofar Governorate reached approximately 127,399 by the end of the first half of 2024.
Increase in Industrial License Applications Mohammed bin Khalifa al Badhrani, Director General of the Directorate General of Commerce, Industry, and Investment Promotion in Dhofar Governorate, stated that the governorate witnessed an increase in industrial license applications, with 1,676 new applications during the first half of 2024 compared to 1,184 applications during the same period in 2023. Al-Badhrani attributed this increase to the investment-friendly environment in Dhofar Governorate, as well as the facilities and incentives offered to investors. The Ministry of Commerce, Industry, and Investment Promotion, in collaboration with relevant authorities, has enabled investors to use the latest smart applications to facilitate investment procedures.
Al-Badhrani added that the highest licensed commercial activities in Dhofar Governorate include the construction and contracting sector, export and import offices, along with a notable increase in licenses for restaurants and cafes, vehicle mechanics, and retail clothing stores.
Empowering the Private Sector in Investments Al-Badhrani emphasized that the Directorate General of Commerce, Industry, and Investment Promotion in Dhofar Governorate is working to enhance the investment climate with the aim of empowering the private sector to attract foreign investments and highlight key investment opportunities in the governorate. Among the most important current investment opportunities are the establishment of a sodium silicate manufacturing project in the Raysut area of Salalah, a steel plant in Salalah for the production of light structural steel billets, and a project for dolomite calcination units in Salalah within the mining industry.
Diverse Investment Opportunities Al-Badhrani pointed out that investment opportunities in Dhofar Governorate are diverse, including fields such as fiberglass boat manufacturing, cement paper bag production, and the manufacturing of formations used in water and soft drink packaging. The agricultural sector in Dhofar also flourishes during the Khareef (monsoon) season due to seasonal rains, which boost food security and positively contribute to the local economy.
Khareef Season as an Investment Stimulus Al-Badhrani explained that the Khareef season presents a significant investment opportunity, as the governorate experiences notable growth in commercial activities during this period. The retail sector, in particular, benefits from the influx of tourists and residents, which stimulates sales and business activities, supporting small and medium enterprises as well as artisanal industries.
Exceptional Advantages Dhofar Governorate enjoys exceptional advantages in the logistics sector due to the presence of Salalah Port and the free zone. The Salalah Free Zone has successfully attracted numerous economic projects, with 127 usufruct agreements signed, totaling an accumulated investment volume of RO 4.5 billion.
Incentives to Attract Investments Al-Badhrani highlighted that Dhofar Governorate offers many incentives to attract investments, including a 30-year income tax exemption, customs exemptions, full foreign ownership rights for investment projects, and other advantages that make the governorate a preferred investment destination.