Com­pre­hen­sive re­port on Oman’s free trade zones to be re­leased next year

Times of Oman - - MARKET - Times News Ser­vice

MUSCAT: Oman’s push to­wards eco­nomic growth and di­ver­si­fi­ca­tion through the ex­pan­sion of its free zones and spe­cial eco­nomic zones will be the sub­ject of an up­com­ing re­port to be pub­lished by Free Zone Watch, an on­line mar­ket­ing, news and net­work­ing plat­form for free zone stake­hold­ers.

At present, Oman has free zones in So­har, Salalah and AlMazy­ounah, as well as a spe­cial eco­nomic zone in Duqm. Fol­low­ing the re­lease of their in­au­gu­ral re­port in Tur­key, ear­lier in 2017, Free Zone Watch’s Coun­try Se­ries re­search team has be­gun work in Oman to as­sess and show­case the note­wor­thy in­vest­ment in, and de­vel­op­ment of, its four zones, as well as on the sup­port­ing in­dus­tries and in­fra­struc­ture which make the coun­try an ideal lo­ca­tion for for­eign in­vest­ment. Carolina Ten­zer, Coun­try Di­rec­tor for the project, said the re­port would be an im­pres­sive ve­hi­cle for mak­ing a strong in­vest­ment case in favour of Oman’s ‘free zones,’ a term which in­cludes spe­cial eco­nomic zones.

Di­ver­si­fi­ca­tion ef­forts

“Oman’s free zones will play an im­por­tant role in the coun­try’s di­ver­si­fi­ca­tion ef­forts, not only in sup­port­ing the in­dus­tries which are at the heart of the Sul­tanate’s trans­for­ma­tion pro­gramme, but in strength­en­ing and in­creas­ing the num­ber of trade part­ners.”

“Through our work here, we hope to eval­u­ate and dis­play the Sul­tanate’s com­mit­ment to­wards in­fra­struc­ture de­vel­op­ment, eco­nomic evo­lu­tion, and sta­ble macroe­co­nomic pol­icy, all of which are pos­i­tive in­di­ca­tors for 2018, Vi­sion 2020 and the coun­try’s long-term vi­sion,” she fur­ther added. The full re­port, en­ti­tled ‘Free Zone Watch: Oman 2018’, is ex­pected to be pub­lished, on­line and in print, early next year.

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