‘SEZD a cornerstone of economic diversification plans of Oman’
Duqm embodies the wise vision of late Sultan Qaboos in attracting local and foreign investments
MUSCAT: The Special Economic Zone Authority at Duqm (Sezad) welcomed yesterday a delegation of the seventh National Defence batch.
The delegation was headed by Major General Salim bin Musallam bin Ali Qatan, Commandant of the National Defence College.
In his welcome note, Dr Ismail bin Ahmed Al Balushi, CEO of the Sezad, said that since its establishment in 2011, it embodies the wise vision of late His Majesty Sultan Qaboos bin Said bin Taimour towards attracting local and foreign investments to Duqm.
Al Balushi commended Sezad’s efforts in this regard so far as the investments of government companies and private corporates in the zone reached about $14 billion, according to the usufruct contracts signed till the end of last year.
He added that such investments are a testament of the various advantages of SEZD along with the incentives and facilities provided by Sezad to increase local and foreign investments. This also reflects the Sultanate’s security, stability and stimulating business environment offered for investors.
“The Special Economic Zone at Duqm (SEZD) stands as among the key achievements of the Blessed Renaissance, started by the late His Majesty Sultan Qaboos bin Said, May Allah rest his soul in peace. As per His Majesty’s Royal Directives, SEZD is marked one of the investment destinations and a cornerstone of the economic diversification plans in the Sultanate,” Al Balushi affirmed.
The visit came as part of the college’s annual programme aimed at familiarising participants with different strategic projects being developed in the Sultanate, including projects at the Special Economic Zone in Duqm (SEZD).
During the visit, the delegation was briefed on the Special Economic Zone Authority at Duqm, Port of Duqm, Drydock and Emdad Logistics Company. The delegation also toured several projects in the zone.
Besides, he touched on the competitive characteristics of Duqm that qualify it to be a major trade destination between the East and West. Besides, it is positioned as an integrated industrial complex on international shipping lines, thanks to its geographical location on the Arabian Sea overlooking the Indian Ocean and close to the consumer markets in Asia and Africa.
Therefore, Sezad is working closely in cooperation with its partners in the zone, especially the Port of Duqm, to attract local and international companies and renowned shipping lines to mark Duqm the main station for its containers targeting countries in the Middle East as well as the African and Asian markets, the CEO of Sezad explained.
The Special Economic Zone at Duqm is distinguished with its diversity of projects and spacious area of 2,000 square kilometres, which allowed it to attract various businesses in different economic sectors.
The zone is home for projects specialised in light, medium and heavy industries, petrochemical, fisheries, tourism, commercial, health, education, logistics, and real estate development.
In this regard, Al Balushi commented that Sezad aims through this diversification to make Duqm an integrated hub of services; a place for living and work, where people of different cultures and backgrounds come together to achieve the objectives of building the Zone and boost its contribution to the national economy.