DUQM: The Public Authority for Special Economic Zones and Free Zones (SEZAD) in Oman and the Aqaba Special Economic Zone Authority in Jordan signed a memorandum of understanding (MoU) aimed at fostering economic and investment development in both countries' special economic zones.
The MoU was signed in the Wilayat of Al Duqm, with Eng Ahmed bin Hassan al Dheeb, Vice-Chairman of SEZAD, representing Oman, and Naif Hamidi al Fayez, Chairman of the Board of Commissioners for Aqaba Special Economic Zone, representing Jordan.
This agreement focuses on collaboration in areas of mutual economic interest, including attracting investments, sharing expertise in laws and regulations, and developing management systems for special economic zones. The two authorities will explore the potential for joint projects and seek to create an institutional framework that enhances the competitiveness of both zones on a global scale.
Key areas of cooperation include urban planning, facility management, and investment environments, with a particular emphasis on smart city applications. Both parties will also exchange experiences related to managing and developing their respective zones, focusing on best practices in infrastructure, transportation, and logistics.
The MoU also encourages the two countries to collaborate on promotional activities, regional and international conferences, and training programmes for employees working in special economic zones. Both parties will exchange research and case studies on zone management, with the goal of improving operational efficiency and investment attraction.
In the logistics sector, the agreement highlights the importance of opening new export channels and enhancing the flow of goods between Oman and Jordan. By coordinating their transport facilities, the two zones aim to reduce export costs and strengthen their presence in regional and international markets.
On the sidelines of the MoU signing, Naif Hamidi al Fayez and his delegation toured key projects in Duqm, including Duqm Port, the Dry Dock, and the Karwa Car Factory, which are considered vital to Oman’s economic diversification efforts.
This MoU is expected to pave the way for increased investment and collaboration between the two countries, furthering economic growth in both regions and enhancing the role of their special economic zones in global trade and investment networks. — ONA
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