OPAZ cumulative investments reached OMR19bn by the end of 2023

Muscat: The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) on Wednesday held its first meeting for 2024.

The meeting was held under the auspices of Dr. Ali Masoud Al Sunaidi, Chairman of OPAZ Board of Directors.

The meeting discussed the most important indicators of performance of economic zones, free zones and industrial cities affiliated to OPAZ. It looked into the volume of cumulative investment as at the end of 2023, which stood at about OMR19 billion.

The investments were distributed among 14 existing zones that had a direct workforce of 75,000 workers and a general Omanisation rate of 34 percent.

As many as 80 services were automated and the volume of direct revenues from these zones exceeded OMR61 million, an increase of 15 percent above the target set for the year 2023.

During the meeting, the board of directors also reviewed steps taken to enhance commitments, including the matrix of powers assigned to the Public Establishment for Industrial Estates (Madayn).

The meeting also discussed the performance of internal audit committees and a proposal to expand the green area in the Special Economic Zone at Duqm, among other topics.