Opaz outlines its initiative to improve services provided to investors

Muscat: The Public Authority for Special Economic Zones and Free Zones (Opaz) held a workshop to discuss the initiative to improve the services provided to investors in the industrial zones and unify the incentives and advantages offered. The workshop was attended by representatives from Opaz, the Public Establishment for Industrial Estates (Madayn) and the Irish International Development Company (IDI).

This initiative aims to enhance the business environment in the industrial zones and adopt Opaz's experience in developing the same services in the Special Economic Zone at Duqm (Sezad) and free zones. It also intends to improve the services provided to investors to attract more investments and promote economic growth. Other objectives of this initiative include simplifying licensing procedures and expediting service delivery and efficiency at the same time, as well as examining opportunities to standardise incentives and benefits offered to investors in these zones. In addition, the plan of execution timeline was decided to be during the second half of 2023.  

Moreover, the participants exchanged different opinions and suggestions, highlighting the importance of improving the investment environment and developing logistical services and infrastructure in the industrial zones. Further, Opaz initiatives that are being conducted with an international house of expertise to develop the investment environment in Opaz-affiliated zones were also highlighted. Such initiatives include the implementation of a one-stop shop system and the provision of an advanced care system for investors backed by a flexible legislative environment.