The Public Authority for Special Economic Zones and Free Zones in the Sultanate of Oman (OPAZ) issued a decision to form an executive committee that would include representatives from Oman and Saudi Arabia to supervise a project to develop an integrated economic zone in Al-Dhahirah governorate.
Chaired by Ahmed bin Hassan al Deeb, Deputy Chairman of OPAZ, the committee will also include several officials of OPAZ and Saudi Arabia’s Ministry of Investment, Economic Cities and Special Economic Zones Authority and the Saudi Development Fund.
The committee will be in charge of supervising the implementation of a memorandum of understanding signed between OPAZ and the Saudi Economic Cities and Special Economic Zones Authority in the field of economic development for special economic zones and free zones.
It will also put forward a plan for the development, execution and management of the zone, including programs and initiatives, and monitor their implementation.
Moreover, the committee will seek to promote the exchange of experiences and practices in the management and operation of economic zones and will organize informative workshops for traders and investors in both countries.
General Manager of Planning and IT Sector at OPAZ Mahmoud bin Hamoud al-Rawahi said that the Omani authority has completed the consultancy studies pertaining to the Integrated Economic Zone project in Dhahirah, which has been allocated 388 square kilometers of investment land.
He added that OPAZ has also submitted the relevant documents, which support providing the funding required for developing the project’s first phase, covering an area of 20 square kilometers.
According to Al-Rawahi, the first phase of the project includes the establishment of infrastructure, roads, electrical installations, water and sewage networks, industrial waste treatment, and necessary facilities, in addition to providing engineering consultancy services, including design and supervision.
“Operating the integrated economic zone will offer various investment opportunities, in addition to its important role in developing Al-Dhahirah governorate, and raising and supporting the level of intra-trade between the two brotherly countries,” he stated.
