Muscat: Foundation stone for constructing a hotel in Al Mazyunah was laid by Dr. Ali bin Masoud Al Sunaidi, Minister of Commerce and Industry on Tuesday.
The hotel project, which will be developed by the Oman and Yemen group, helps investors in the free zone by offering a variety of incentives and services for the visitors to the free zone in particular and the wilayat in general. Al Sunaidi also visited the custom area which was completed by the end of 2014. He also visited the space that is being developed and managed by the Kuwaiti company Golden Hala in Al Mazyunah Free Zone. The space includes several facilities like offices, warehouses and infrastructure works.
Mohammed Ahmed Rafeet, acting director general of Al Mazunah Free Zone, said; "The Sultanate enjoys security and integrated infrastructure facilities in addition to the laws that all together contribute to having an ideal investment environment. The efforts undertaken by the various government bodies play a major role in facilitating investment process and overcoming challenges facing the investors. As a result, we are witnessing today various local and foreign investments operating in Al Mazunah Free Zone."
Al Mazunah Free Zone opened in November 1999 as the first of its kind in the Sultanate. The strategic location of Al Mazyunah Free Zone on the border of the Sultanate and Yemen makes it the Gulf gateway for transit trade to Yemen and Eastern Africa.
Al Mazyunah Free Zone aims to attract local and international investments to increase the volume of trade exchange, attract advanced technologies, and create job opportunities.It offers investment opportunities in several sectors including commercial sector, industrial sector and supporting services sector. PEIE works constantly to underscore the available investment opportunities in Al Mazunah Free Zone and emphasise on its strategic location through various events.
Additionally, Al Mazyunah Free Zone offers several incentives including easy access of individuals and investors to the free zone without entry visa required for Yemenis; Yemenis can work in Al Mazunah Free Zone without a working visa; in addition to its strategic location close to the Yemeni border, among other incentives of benefit for the investors.
Al Sunaidi was accompanied by Hilal bin Hamad Al Hasani, chief executive officer of the Public Establishment for Industrial Estates (PEIE) to the free zone.
"We have seen today investors from GCC countries, Yemen and other Arab countries expressing their contentment with the investment climate in Al Mazunah Free Zone," said Al Sunaidi.