Oman’s Al Mazunah Free Zone has seen significant investments in the first quarter of 2016, with agreements inked with 21 companies, along with plans to build a hotel in the free zone, according to a senior official.

The total number of multinational companies that signed agreements in Al Mazunah Free Zone exceeds 75, Hilal bin Hamad Al Hasani, chief executive officer of the Public Establishment for Industrial Estates (PEIE) and chairman of the Al Mazunah Free Zone Committee, was quoted as saying in a Times of Oman report.

He added that there are more than 25 investment applications that are currently under study, and the free zone has seen a significant increase in commercial traffic during the first quarter of 2016, as the number of incoming and outgoing vehicles exceeded 11,000 vehicles.

Nearly 13,000 tonnes of goods passed through the free zone during the first quarter, with trade surpassing $150 million, said the report.

Al Hasani noted that the import operations through Omani ports have resulted in significant development, and have eventually enhanced the activity of Oman’s transport sector.

He further added that Al Mazunah Free Zone aims to attract local and international investments to increase the volume of trade, attract advanced technologies and create job opportunities, added the report.