Oman's Madayn free zones seek investors in Guangzhou, China
Public Establishment for Industrial Estates concludes three-day campaign outlining investment incentives
Oman’s Public Establishment for Industrial Estates (Madayn) has concluded a three-day promotional campaign in Guangzhou, held in collaboration with China’s Ministry of Commerce and including a seminar, business meetings, and field visits with the aim of generating awareness on available investment opportunities in Madayn’s industrial cities and in Oman.
Addressing the audience during the Belt and Road Opportunities and Challenges seminar, Madayn’s chief executive officer, Hilal bin Hamad Al Hasani, said: “Today, Madayn is managing and operating seven industrial cities, in addition to Knowledge Oasis Muscat and Al Mazunah Free Zone.
"The total area of the industrial cities of Madayn has touched more than 100km2.”
Al Hasani said Madayn was eyeing growth from manufacturing, as well as information and communications technology (ICT) firms, adding that it planned to attract “industrial investments and [provide] continued support through regionally and globally competitive strategies, good infrastructure, value adding services, and easy governmental processes”.
Madayn’s director of marketing and promotion, Khalid bin Sulaiman Al Salhi, said investors would be offered incentives such as exemption from tax on net profit for a period of five years with industrial projects; exemption from customs duties and taxes on production inputs; the provision of developed and equipped lands with basic services, such as water, electricity, telecom networks, and roads; and the possibility of 24x7 operation in its cities.
Incentives offered in general free zones include 30 years of tax-free operations, customs’ exemptions, 100% foreign ownership, and no minimum capital requirements, Al Salhi added.
Al Salhi also briefed the audience on the Knowledge Oasis Muscat and Al Mazunah Free Zone, where infrastructure services such as a road network, electricity, water, telecom, and sewage services have been developed in recent years.