Muscat: Eng. Ridha bin Juma Al Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI), visited Al Mazunah Free Zone, which is managed and operated by the Public Establishment for Industrial Estates – Madayn. Al Saleh was briefed on the characteristics of the free zone and the incentives and facilities it offers to the investors.
Said bin Abdullah Al Balushi, Director General of Al Mazunah Free Zone, explained that the incentives offered to the investors in the free zone comprise customs’ exemptions, 100 per cent foreign ownership, no minimum capital requirements, and simplification of procedures for non-GCC investors to obtain a residence visa in Oman.
Al Balushi added that Al Mazunah Free Zone is currently working on the infrastructure development project (second package) and phase two, in which the completion rate has touched 88 per cent. Work is also underway in the design of the facility building, which is valued at more than OMR3 million and is expected to be completed by mid-2022.
Additionally, work is in progress with the expansion design project of phase 4 for a total area of three million sqm. Moreover, work is currently taking place to assign the security fence project, which will implement integrated security systems in the free zone.
During the field visit, Al Saleh was familiarised with the tasks undertaken by the customs area in the free zone including the handling operations that are operated by Al Madina Logistics Services Company. Al Saleh also visited a number of operating units at Al Mazunah Free Zone to get acquainted with their services.