Saturday 27 / July / 2024
Muscat: A delegation representing Kenya Ports Authority visited Al Mazunah Free Zone to explore the investment climate and get acquainted with the ongoing and future projects that are planned by the Public Establishment for Industrial Estates “Madayn” in the free zone.
The Kenyan delegation was briefed on the incentives that are offered to the investors in the free zone, which comprise customs exemptions, 100 per cent foreign ownership, no minimum capital requirements, and the Omanisation rate stands at 10 per cent.
Other incentives include easy access of individuals and investors to the free zone without entry visas being required for Yemenis, and facilitation of employing the Yemeni workforce without work visas being required, among other advantages.
Strategically located on the border of the Sultanate and Yemen, Al Mazunah Free Zone represents the Gulf gateway for transit trade to Yemen and Eastern Africa. Several projects are currently being implemented in Al Mazunah Free Zone including a new road network, water tanks and network, fibre optic network, and electricity and drainage networks, in addition to the facility building project.
The Kenyan delegation then toured Al Mazunah Free Zone and explored the customs area in the free zone including the handling operations that are managed by Al Madina Logistics Services Company.
