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Investment in Oman economic zones hits $43bn

By Pramod Kumar
Free trade agreement negotiations between India and Oman are said to be on 'fast-track mode' Oman News Agency
Free trade agreement negotiations between India and Oman are said to be on 'fast-track mode'

Investment in Oman’s special economic zones and industrial cities reached OMR16.6 billion ($43.38 billion) as of June 2023, according to the Public Authority for Special Economic Zones and Free Zones (Opaz).

Existing industrial cities received a total investment of OMR7.3 billion, with Salalah Free Zone leading with OMR4.5 billion as of June 2023, Muscat Daily newspaper reported, citing an Opaz report.

The Special Economic Zone at Duqm (SEZAD) recorded investment of over OMR3.8 billion, while the Sohar Freezone secured OMR570 million.

In addition, the Al Mazunah Free Zone attracted over OMR139 million in investments, while the Khazaen Economic City recorded investments of OMR323 million.

During the first half of this year, SEZAD received OMR185 million in new investments.

Investments in the Sohar Freezone reached OMR94 million in the first six months of 2023, taking the total cumulative investment to OMR570 million.

The Salalah Free Zone attracted investments worth OMR72 million during the January–June period of 2023.

The Public Establishment for Industrial Estates (Madayn), responsible for industrial cities in Oman, reported OMR87.6 million worth of new investments across various industrial cities during the first half of the year.

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