Business delegations from seven countries visited Salalah Free Zone (SFZ) on Monday and held detailed discussions with the SFZ officials about the investment prospects, business scenario and issues related to customs at the free zone headquarters in Salalah. They are likely to sign some agreements also with the SFZ.
The delegations comprised businessmen and investors from Libya, Tunisia, Syria, Egypt, UK and Italy. The delegation members took into consideration broad factors like geographical location of the Sultanate of Oman in general and Salalah in particular, diverse climatic conditions, current industrial growth and areas where they can think of doing some business.
Addressing the gathering of the prospective investors, Ali bin Mohammed Tabuk, CEO of Salalah Free Zone, gave an outline of the strength that the Salalah Free Zone holds for the investors including infrastructure, market for finished products and investor-driven policies of the free zone.
The visiting businessmen had an opportunity to meet representatives from Port of Salalah, Oman Chamber of Commerce and Industry, Ministry of Commerce and Industry, Public Authority for Investment Promotion & Export Development (Ithraa), and senior Customs officials.
Ali Tabuk, Salalah Free Zone CEO, said the free zone successfully achieved competitiveness for sustainable development in the Sultanate “and today, with due support from private and public sectors the SFZ has become a driver of growth. The foreign direct investment (FDI) has reached up to $ 8 billion (RO 3 billion) and the SFZ has created nearly 6,800 jobs.”
Nasima al Balushi, Ithraa’s Director General for Investment and Export, assured all possible support to the prospective investors. “Ithraa is a platform to boost business in Oman. We provide market intelligence, offer national and international platform and assist companies in many other ways.”
The visiting delegates comprised businessmen from sectors like, heavy industries, technology and software, hospital management, oil and gas, manufacture of pharmaceuticals and their derivatives, food processing, logistics and tourism, agriculture, livestock and fisheries; and real estate.
An official of the SFZ called the visit an opportunity to facilitate businessmen and investors in the Sultanate and explain them the areas where they can invest.
“Besides seeking to raise the level of trade between Arab and foreign countries, such delegations also help in promoting the historical, cultural and civilisational sites of the Sultanate and assure them about safety and security aspects of themselves and their businesses.”
Such visits, according to him, help develop create clusters between traders to develop trade and economic movement and encourage investment of all kinds. “This helps us to introduce the Omani products to the foreign audience.” The SFZ officials are hoping signing of some agreements between Salalah Free Zone and the visiting foreign companies after B2B meetings and discussions.
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