OPAZ Board Conducts 4th Meeting of 2024, Approves Key Incentives and Investments

Oman, 10 October, 2024 : The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) convened today for its fourth meeting of the year, chaired by Dr. Ali Masoud Al Sunaidi.

During the meeting, the board addressed several key topics concerning the economic zones, free zones, and industrial cities under OPAZ's supervision. 

The board approved incentives for the rental value of Al Mazunah Free Zone and renewed the existing incentive package for Al Buraimi Industrial City. Additionally, it allocated 1% of the total annual production from mining and quarrying companies operating in OPAZ-supervised areas to support local community development.

The board also sanctioned the application of service fees for Khazaen Economic City, aligning with Decision No. 63/2023, applicable across all areas supervised by the Authority.

In reviewing its semi-annual report for 2024, OPAZ noted that the total volume of investments in its areas has reached RO 20.1 billion.

Source :www.omannews.gov.om