Tuesday 23 / April / 2024
Muscat: With the aspiration of getting acquainted with the current investment opportunities at Al Mazunah Free Zone, Sheikh Bakhit bin Salim Al Mashani, Wali of Al Mazyunah, visited recently the free zone which is managed and operated by the Public Establishment for Industrial Estates (Madayn).
Al Mashani’s meeting with Al Mazunah Free Zone’s management also explored the challenges faced by the investors, improvement of service mechanism, and provision of more job opportunities for the wilayat’s citizens.
Said bin Abdullah Al Balushi, acting director general of Al Mazunah Free Zone, stated that the free zone offers several incentives to the investors which include 30 years of tax-free operations, customs' exemptions, 100 per cent foreign ownership, no minimum capital requirements, and Omanisation rate stands at 10 per cent.
More incentives include easy access of individuals and investors to the free zone without entry visas being required for the Yemenis, facilitation of employing Yemeni workforce without work visa being required, proximity to the Yemeni markets; among other incentives of importance to the investors.
Al Balushi informed that the growth rate of goods movement in the free zone during the first third of 2019, i.e. from January to April, has touched 100 per cent compared to the same period in 2018. The total weights of goods entering the free zone during the mentioned period of 2019 reached 86,935 tonnes compared to 42,440 tonnes during the same period of 2018.
The Wali of Al Mazyunah then visited the one-stop-station at the free zone, where he was briefed on the progress of the project.
He also visited the infrastructure development project in the free zone, which includes the construction of roads and related services, and supply of electricity to the existing industrial units.
Al Mashani hailed the remarkable development seen in the projects and the services that contribute in adding value to the Wilayat in particular and the Sultanate in general.
