Oman’s Public Establishment for Industrial Estates (PEIE) revealed that investment applications in various industrial estates grew by 25 per cent to reach 76 applications in January 2018, compared to 61 applications during the same period in 2017, said a report.

The highest number of investment applications was recorded in Raysut Industrial Estate with 14 applications, followed by 12 applications in Sohar Industrial Estate, nine applications in Sur Industrial Estate, seven applications in Sumail Industrial Estate, three applications in Nizwa Industrial Estate, and two in Al Buraimi Industrial Estate, added the Times of Oman report.

The movement of investment applications in the various industrial estates is expected to grow further during the coming period, especially with the recent announcement by PEIE of the new incentives and investment regulations that shall attract and encourage investors to invest in the sultanate.

The investment demand in Al Mazunah Free Zone has also increased in January 2018, as 29 investment applications were recorded compared with two applications noted during the same period in 2017.

The PEIE continuously seeks to develop the investment environment in Al Mazunah Free Zone. The free zone has launched its electronic system this year, which comes in line with PEIE’s strategy of electronic transformation in all its transactions.

The free zone, therefore, has stopped receiving hard copy documents of all transactions related to the movement of goods, added the report.