Duqm authority woos Chinese investors to free trade zone

Muscat: A promotional campaign for attracting investment from Chinese investors to the Duqm special economic zone was conducted in Dalian province by the Special Economic Zone Authority in Duqm (Sezad) on Sunday.
The campaign focused on the incentives offered by Sezad, the projects within the zone and the investment climate in the Sultanate, said a press release. Yahya bin Said Al Jabri, chairman of Sezad, indicated that the investment opportunities are attractive.
Al Jabri said Duqm is a hub linking the Middle East markets, such as China, with its large population, impressive industrial development, competitive prices and western markets in the United States and Europe.
He also pointed out that Duqm, with its geographical location in the Indian Ocean, is the gateway to the Gulf and Iran and an important and safe port for the export of goods to the markets of India and East Africa.
He also called on Chinese companies to explore the investment opportunities available in Duqm, as Sezad offers full support to the companies wishing to invest in Duqm.
The seminar included a number of presentations that focused on the investment opportunities in Duqm. Said bin Homoud Al Mawali, general manager of Oman Tank Terminal Company (OTTCO), indicated that Oman Oil Company would establish several projects in Duqm.
These projects include an oil refinery, oil storage facility and a number of other projects.
Ali Shah, chairman of Oman Wanfang, highlighted some projects the company would establish in Duqm, supported by Ningxia region. “We are looking forward to more Chinese investments in Duqm. Duqm is an important choice for Chinese companies in the Indian Ocean,” he added.
Nasr bin Zahir Al Hadhrami, Investment and Promotion executive at Ithraa, made a presentation on the investment climate in the Sultanate in general. He said the Sultanate is a promising destination for investments and is characterised by the existence of various investment zones, including a number of free and industrial zones, pointing out that the Sultanate is continuously working to modernise its laws and investment legislation in line with global changes and economic growth.
Ithraa’s participation in the promotion is part of its efforts to promote the Sultanate as a destination for investment and business and to introduce the investment environment and promising sectors.