The Public Establishment for Industrial Estates (Madayn) signed an agreement today (April 7) with Al Madina Logistics Services to manage and operate the customs area services at Al Mazunah Free Zone in Oman. 

 

The agreement, aimed at raising the efficiency of handling operations, and management of loading and unloading containers and trucks at the land port, was signed by Said bin Abdullah Al Balushi, Director General of Al Mazunah Free Zone and Mahmood bin Sakhi Al Balushi, CEO of Al Madina Logistics.

 

Said bin Abdullah Al Balushi, Director General of Al Mazunah Free Zone, stated that the agreement aims at developing and improving the logistics operations in the free zone and enhancing the smooth flow of goods and containers through import and export operations. “These efforts shall serve the suppliers, exporters, economic sectors and the investors in the free zone,” Al Balushi said, adding: “As a national company, Al Madina Logistics Services enjoys rich experience in managing dry ports. Its management and operation of the customs area at Al Mazunah Free Zone shall create an adding value for the suppliers, exporters and investors.”

 

On his part, Mahmood bin Sakhi Al Balushi, CEO of Al Madina Logistics, emphasised that this agreement comes along the lines of the efforts undertaken by the government for the logistics sector and to emphasise on the importance of collaborating with the private sector to offer logistics services. “Al Madina Logistics is one of the leading national companies in managing inland ports as it established the first inland port in Oman that was inaugurated in 2010 under the name of Muscat Container Depot,” Mahmood Al Balushi pointed out.

 

It is worth mentioning that Al Mazunah Free Zone has witnessed notable growth during the first quarter of the current year in spite of the current global conditions. The volume of imported goods to the free zone has touched 87,341 tonnes by the end of March 2020, noting an increase exceeding 44 per cent compared to 60,628 tonnes during the same period of 2019, Madayn revealed in a statement. 

 

In addition, the total number of incoming vehicles has reached 2,066 by the end of March 2020, marking a growth rate that exceeds 500 per cent and an increase of 1736 vehicles compared to the same period of 2019.

 

Al Mazunah Free Zone currently offers various services required by the investors through its one-stop-station, which saves time and effort as well as facilitates the services offered to the investors and business owners. The one-stop-station at the free zone includes several public and private bodies such as the Ministry of Commerce and Industry, Ministry of Manpower, Oman Chamber of Commerce and Industry, and insurance companies. 

 

Besides, general incentives are offered to the investors in the free zone, including customs’ exemptions, 100 per cent foreign ownership, no minimum capital requirements, and Omanisation rate stands at 10 per cent. Other incentives include easy access of individuals and investors to the free zone without entry visas being required for Yemenis, facilitation of employing Yemeni workforce without work visa being required, in addition to other incentives, the statement said.—TradeArabia News Service