Muscat: Al Mazunah Free Zone, which falls under the umbrella of the Public Establishment for Industrial Estates – Madayn, took part in the recently held annual food and hospitality event – Gulfood 2020 in Dubai. Al Mazunah Free Zone’s officials promoted the available investment opportunities in the free zone and highlighted the incentives offered to the investors.
Said bin Abdullah Al Balushi, Acting Director-General of Al Mazunah Free Zone pointed out that Gulfood Expo presents a perfect platform to familiarise visitors from different countries on the incentives offered by Al Mazunah Free Zone and emphasise on its strategic and ideal location. “Taking into consideration its closeness to the Yemeni and East African markets, the free zone acts as a key player in shipping and re-exporting of goods especially the food products,” Al Balushi said.
He added that it is vital to promote the incentives offered at Al Mazunah especially with the expansion that is being witnessed by the free zone in terms of the infrastructure projects. These projects include the development of phase one (second package) of the free zone, phase two, electricity transmission to the leased companies (cables and transformers), and the broadband project.
General incentives are offered to investors in the free zone, including 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 work visa being required, in addition to other incentives.
It should be noted that Al Mazunah Free Zone participated in Gulfood 2020 as part of the Sultanate’s pavilion, which was represented by Madayn in cooperation with Ithraa. A number of Omani companies and factories from the food industry also took part in the event under the umbrella of Madayn. These companies include Areej Vegetable Oils and Derivatives, Salalah Macaroni Company, Oman Foodstuff Factory, Omani Vegetable Oils and Derivatives, Sweets of Oman Company, Al Joudah Food Tech Lab, Al Bahja Group, and Al Zain Poultry Farms.