Oman's SFZCO secures $35m private-sector funding for food plant
Chief executive officer Ali Tabouk says project will boost Oman's non-oil exports and create 200 jobs in the country
Oman’s Salalah Free Zone Company (SFZCO) has secured $35m (OMR13.5m) foreign direct investment from the private sector to develop a food plant that will be fitted by European technology and create 200 jobs in Oman.
According to chief executive officer of SFZCO, Ali Tabouk, the plant will also boost sultanate’s non-oil exports in the long term.
The company’s official Twitter handle quoted Tabouk as saying: “Salalah Free Zone will strive continuously to achieve and strengthen our efforts to attract FDI that contributes to sustainable development objectives of the sultanate, and provide job and business opportunities for national companies."
After the activation of the #Ease_of_doing_Business initiative, a new achievement has been added to #Salalah_Free_Zone by signing the #SUA to establish a Food Industry Complex with Foreign Direct Investment and partnership with the Omani Private Sector. " pic.twitter.com/mCg2Ol1ZFd— Salalah Free Zone Co (@SFZCO) July 30, 2019
The news comes days after SFZCO launched an initiative to improve ease of doing business, as part of which project licences are issused to investors in one to three hours of submitting their investment application form.
Earlier this month, SFZCO secured FDI worth $80m (OMR30.8m) to establish three plants within its free zone, including manufacturing facilities for solar panels and gypsum products.