Oman's Free Zones: Growth, Investments and Achievements in 2023

Oman, 07 March, 2024 : The Public Authority for Special Economic Zones and Free Zones (OPAZ) in Oman reported significant investments totaling $49 billion in 2023, emphasizing its commitment to sustainable growth and environmental responsibility. The annual media briefing, attended by key figures including Dr. Ali bin Masoud Al-Sunaidi and Eng. Ahmed bin Hassan al Theeb, highlighted the growth across vital sectors like green energy, metals, pharmaceuticals, and petrochemical industries.

Key investments include RO19 billion in cumulative committed investments by December 2023, with the Special Economic Zone at Duqm leading at RO6 billion. Free zones attracted RO5.3 billion while industrial zones reached RO7.3 billion. Notably, Khazaen Economic City witnessed RO429 million in investments.

In 2023, OPAZ facilitated the establishment of 2,187 new commercial registers, issued licenses, permits, and achieved a 92% satisfaction rate among beneficiaries. The organization also unveiled plans for new economic zones, including the Al Dhahirah Economic Zone and the Muscat International Airport Free Zone, operated by Asyad Group. Development efforts also extend to industrial zones supervised by Madayn, indicating a robust expansion strategy aligned with Oman's Vision 2040.