Madayn holds seminar on investment incentives
The Public Establishment for Industrial Estates – Madayn, in cooperation with the Asian-Arab Chamber of Commerce in India, organised a virtual seminar entitled ‘Investment Incentives in Madayn’. More than 80 investors and businessmen took part in the seminar which came in line with the efforts made by Madayn to attract more foreign investments to the sultanate and strengthen partnerships with the private sector, particularly in the industrial sector.
Hilal bin Hamad al Hasani, chief executive officer of Madayn, emphasised on the strong bilateral trade relations between the sultanate and India. Hasani said that the seminar presents an opportunity to introduce the incentives and facilities offered by Madayn to the participating investors and businessmen.
Hasani added that Madayn aims at enhancing the sultanate’s position as a leading regional centre of manufacturing, ICT, innovation and entrepreneurship excellence. To achieve this, Madayn is making significant efforts to attract industrial investments and provide continued support through regionally and globally competitive strategies, good infrastructure, value adding services, and easy governmental processes.
On his part, Dr Asif Iqbal, president, Asian-Arab Chamber of Commerce, stated that the online seminar offered an opportunity to strengthen relations with Oman by meeting and interacting with representatives from different countries.
“I can recall our visit to Oman last year through a business delegation that went to explore the business and investment opportunities in the Sultanate of Oman in general and Madayn in particular, and I should emphasise that Oman offers an ideal business and investment destination for businessmen and investors,” Dr Iqbal pointed out.
Madayn incentives
Khalid al Salhi, director of Marketing and Promotion at Madayn, elaborated on the available investment opportunities in the industrial cities that fall under the umbrella of Madayn in various sectors.
Salhi explained that the incentives offered by Madayn to the investors include lease period of lands and facilities for up to 30 years, renewable for the same period, right to waive the lease right for the remaining period of the contract, right to sell constructions and buildings on the leased land, right to involve new partners in the lease contract, fair evaluation of buildings and facilities upon the termination of the lease contract, developed and equipped lands with basic services (water, electricity, telecom, roads) and transparent legal frameworks illustrating rights and obligations, punctuality in service delivery in addition to other incentives.
Salhi added that Oman Investment and Development Holding Company was established by Madayn to strengthen Public-Private Partnership and to correspond to the local, regional, and global economic changes and developments. It aims at ensuring best services to the Omani industrialists and investors to meet their requirements and offer an ideal business environment in line with the best international best practices.