One-stop-station begins operations at Al Mazunah Free Zone

Business Saturday 20/July/2019 17:24 PM
By: Times News Service
One-stop-station begins operations at Al Mazunah Free Zone

Muscat: The one-stop-station at Al Mazunah Free Zone has officially commenced its operations. Business owners and investors can now have access to a set of services related to investment activities which shall be implemented within a period of not more than three hours.
This was announced at the second meeting held this year by Al Mazunah Free Zone Committee under the chairmanship of Hilal bin Hamad Al Hasani, Chief Executive Officer of the Public Establishment for Industrial Estates – Madayn.
The one-stop-station comprises representatives of various public and private bodies including Ministry of Commerce and Industry, Ministry of Manpower, Oman Chamber of Commerce and Industry and insurance companies. The station issues industrial licenses and other permits and services in a speedy and timely manner without having to get out of the free zone, which demonstrates an additional advantage to be offered to the investors and clients.
The meeting also discussed a number of topics related to enhancing the efficiency of services provided to investors and business owners, and infrastructure development in the free zone, and the existing projects that Madayn is currently working on including the development of the second phase of Al Mazunah Free Zone.
The meeting also reviewed the latest indicators of investment growth in the free zone, as well as the new investment applications and the upcoming projects. The committee members then visited Manahil Al Saeed Water Company, which opened its factory recently. The committee got acquainted with the products produced by the factory to supply the local market.
Moreover, Madayn is currently working on a number of projects in Al Mazunah, which include transmitting electricity to the leased companies (cables and transformers), and the broadband project. Work is also underway to study the proposal of establishing the Facility Complex in the free zone, which aims at bringing together the services and facilities required by the investment operations for the investors under one platform. The project aims at integrating services, accelerating the pace of businesses, and facilitating the procedures to finalise transactions.
The proposed project will be implemented in two phases on an area exceeding 11,000 square metres. Phase one of the project will comprise four floors, while phase two (future plan) will add two more floors as per the requirements of the market at that time. A strategic location has been identified for the project, which will be visible and easy-to-reach without the need to enter the free zone.
It is worth to mention that general incentives are offered to the investors in Al Mazunah Free Zone, which include customs’ exemptions, 100 per cent foreign ownership, no minimum capital requirements, and 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, facilitation of employing Yemeni workforce without entry visa being required, and facilitation for senior Yemeni corporate officers and investors to obtain work visas; among other incentives of importance to the investors.