Oman’s Al Mazunah Free Zone, under the Public Establishment for Industrial Estates – Madayn, has received 46 new investment applications which are currently under review and study, stated Said bin Abdullah Al Balushi, supervisor of business processes in the free zone.

This comes as the number of the operating projects touched 197 by the end of November, he added.

“The free zone has contributed to the formation of Small and Medium Enterprises for the citizens in the wilayat of Al Mazyunah. Around 14 SMEs were established in the fields of import, export, shipping, unloading, construction, hospitality and public services. Additionally, the free zone has provided 60 job opportunities for the national cadres in the operating body of the free zone, investing companies and the developer Golden Hala Company,” Al Balushi noted.

He added that Madayn is currently working on a number of projects including phase one of developing the free zone (second package), phase two, transmitting electricity to the leased companies (cables and transformers), and the broadband project.

As per the electronic system adopted by Al Mazunah Free Zone to manage the movement of exported and imported goods, the volume of imported goods to the free zone has touched 155666 tons by the end of November 2018. Besides, the number of imported vehicles, machinery and equipment has amounted to 7739 during the same period.

“Madayn undertakes constant efforts to promote Al Mazunah Free Zone among investors through organising several events that highlight the available investment opportunities in the free zone and the role played by its strategic location in contributing to the regional and international trade and investment movement,” Al Balushi stated.

He added that these efforts come along the lines of Madayn’s vision to enhance Oman’s position as a leading regional centre of manufacturing, ICT, innovation and entrepreneurship excellence, and its mission to attract industrial investments and provide continued support, through regionally and globally competitive strategies, good infrastructure, value adding services, and easy governmental processes.

The efforts also come in line with Madayn’s objectives which include attracting foreign investments to the Sultanate and localising the national capital; contributing to stimulating the private sector to achieve sustainable economic and social development; achieving environmental sustainability, and contributing to the creation of new job opportunities for the national cadres. – TradeArabia News Service