Saturday 21 / December / 2024
Times News Service
Muscat: The cumulative volume of investment in Salalah Free Zone has exceeded OMR4.6 billion by the end of June 2024, the Chief Executive Officer (CEO) of the company said.
Elaborating further, Dr. Ali bin Mohammed Tabuk, CEO of Salalah Free Zone, said, “The investment volume in the first half of this year alone amounted to more than OMR68 million.”
The number of companies operating in the Salalah Free Zone currently stands at 143, while the number of projects under operation is 64, indicating that industrial projects constitute 57 percent of the total projects in the zone, while logistics projects constitute 15 percent and commercial projects 28 percent, he said.
Salalah Free Zone, affiliated with the Asyad Group, is a vital centre for diverse activities. It contributes significantly to strengthening the local and national economy, thanks to base to a number of vital sectors.
The CEO further confirmed that the region is witnessing a great turnout from investors to localise their investment projects due to the multiple incentives and advantages it provides, in addition to its strategic geographical location.
“It has emerged as an ideal destination for investors, as it helps in shortening the distance and reducing time and costs to reach the markets of the Middle East, the Indian subcontinent and East Africa,” he added.
He pointed out that the number of projects the free zone has attracted during the first six months of this year amounted to 13 projects. These are related to the production of raw materials from frankincense derivatives, packaging products, air conditioning manufacturing, textile production, import, export and repackaging of potassium fertilizers and other products.
Dr. Ali bin Mohammed Tabuk said that the existing projects in the Salalah Free Zone include petrochemical sector and mineral processing including limestone and gypsum. Also there are units of manufacturing foods and pharmaceuticals, adding that there are also projects in logistics and storage in addition to import and export activities, in addition to many manufacturing and assembly operations, ranging from auto parts to consumer goods. This diverse range of activities is because of its strategic location near the Port of Salalah, one of the most important ports in the region.
The CEO of Salalah Free Zone further pointed out that the zone provides a package of services and facilities to investors and companies operating in it, to support the efficient implementation of their commercial activities.
These services include leasing land, warehouses, and offices, in addition to one-stop services that contribute to simplifying the procedures for issuing permits, visas, registering investors, issuing licences, and commercial registers through the ‘Invest Easy’ platform and issuing the Oman Chamber of Commerce and Industry (OCCI) card, and other services that enhance the business environment in the zone.
Salalah Free Zone, along with other free and economic zones affiliated with the Asyad Group, plays a pivotal role in attracting foreign direct investment (FDI) by providing an ideal environment for expansion and access to international markets, supported by the integrated logistics solutions provided by the group.
The services provided by the group also include all aspects of supply chains, including warehousing services and shipping lines that ensure smooth and safe movement of goods from Omani ports to global ports, in addition to enhancing logistics activities related to ports and last-mile delivery services and meeting customer needs efficiently.
