Oman’s Public Establishment for Industrial Estates (Madayn) has abolished some of the fees related to trucks’ entry and storage in Al Mazunah Free Zone.
This comes within Madayn’s efforts to fight the economic consequences resulting from Covid-19 pandemic, and to attract more local and foreign investments and encourage transit trade in the free zone, a statement said.
Meanwhile, Al Mazunah Free Zone, which pertains to Madayn, has witnessed notable growth during the first half of 2020. “The total value of incoming goods to the free zone amounted to RO 334,378,910 $869,646,059.82) by end of June this year compared to RO 143,460,165 during the same period in 2019, marking a growth rate that exceeds 133 per cent,” informed Said bin Abdullah Al Balushi, Director General of Al Mazunah Free Zone.
The volume of incoming goods to the free zone increased to 210,160 tonnes during the first half of 2020 compared to 129,170 tonnes during the same period in 2019, noting a growth rate of more than 62 per cent. Besides, the total number of incoming vehicles to Al Mazunah Free Zone touched 19,384 during the first half of 2020 in comparison to 945 during the same period in 2019, recording a growth rate that exceeds 1,951 per cent.
This steady growth is attributed to the incentives and facilities offered by Madayn through Al Mazunah Free Zone to offer an ideal investment destination for the investors and business owners. The free zone has recently signed several agreements to encourage further business growth.
Al Balushi pointed out that Al Mazunah Free Zone has signed an agreement this year with Al Madina Logistics Services to manage and operate the customs area services at the free zone. This agreement aims at raising the efficiency of handling operations, and management of loading and unloading of containers and trucks at the dry port.
An agreement was also signed with Shumookh Investment and Services to establish Facility Building at the free zone, which shall present integrated services and facilities required by investors, business owners and clients under one platform.
Hassan Ihsan Al Naseeb, Chairman of Al Mazunah Dry Port Company, stated that the company has officially commenced its operations at the free zone after the success of the initial launch at the inspection, examination and handling areas at the dry port. He emphasised that the launch of these operations comes within the company’s plan to expand and invest in the field of dry ports through enhancing integration, cooperation and partnership between public and private sectors.
“We aspire to see these operations achieve a qualitative shift in the smooth flow of imports and exports through Al Mazunah Free Zone. This shall contribute to achieving higher growth rates and boosting movement in the coming period in cooperation with our partners in Madayn, Directorate General of Customs, and Ministry of Agriculture and Fisheries,” Al Naseeb said.
Al Naseeb noted that Al Mazunah Dry Port Company has selected and appointed a number of Omani cadres from the wilayat of Al Mazyunah who have got trained to 100 per cent manage and operate the port. “This shall represent an adding value to the local community and national cadres. The company will move forward in providing promising investment opportunities for business owners and Small and Medium Enterprises in the fields of customs clearance, handling and equipment provision, among other available investment opportunities,” he added. –TradeArabia News Service