Sohar Freezone signs first IT investment project

Business Monday 30/May/2022 15:40 PM
By: Times News Service
Sohar Freezone signs first IT investment project

Muscat: Sohar Port and Freezone has signed an agreement with China’s United Projects Achievement (FZC) for the lease of 25000 sqm of land at the freezone on which a new Cloud Data Centre is to be constructed.

The data centre will include a multi-functional server room combined with artificial intelligence, big data, and cloud computing. Anticipated to be in operation towards the end of 2022, Cloud Data Centre will be the first investment project of information technology at Sohar Freezone.

“This agreement represents a major milestone for us in line with our plans to make Sohar Freezone a frontrunner in innovation and a smart, technologically advanced ecosystem. It is the second Chinese land-lease investment project at the Freezone, as we continue to promote its enormous potential as a hub for Chinese investment. A diverse number of industries, projects and countries have chosen to bring their business to Sohar Freezone, and we are confident that China’s United Projects Achievement facility will help attract future investments, particularly in IT, diversifying our income sources with wide-ranging economic benefits for Oman,” said Omar Al Mahrizi, Chief Executive Officer of Sohar Freezone.

Yu Xiao, CEO of China’s United Projects Achievement added, “As the world’s fastest-growing Port and Freezone complex and offering a strategic location at the heart of global trade routes, there are significant advantages for us to invest. The new data centre will enable us to replicate our achievements in our home market, serve the increasing demand for affordable and secure cloud computing, and add further impetus to the country’s economic diversification plans. This partnership is reaffirming our success as we remain in China’s top 10 when it comes to cloud computing platforms.”

Presenting a wealth of benefits to investors, Sohar Freezone offers an abundance of land available for new construction as well as allowing investors to lease warehouses and commercial offices. With competitive rates starting from one to three years, companies can register for a Sohar Freezone GTL electronically from anywhere in the world and secure all required permits through the on-site one-stop-shop. Investors also enjoy zero per cent personal income tax, zero per cent import and re-export duties and a corporate tax holiday of up to 25 years.