Duqm Economic Forum to discuss stimulating investment in green industries

Muscat: The Duqm Economic Forum will be held in the Special Economic Zone at Duqm on October 16 and 17, organized by the Public Authority for Special Economic Zones and Free Zones in cooperation with a number of government agencies and with the participation of a group of private sector companies.

Over two days, the forum will discuss new trends in the green industries sector, the most prominent projects that have been attracted to the Duqm Special Economic Zone, and the pivotal role of Duqm in particular and the Sultanate of Oman in general in creating ways for success for this vital sector in light of the local and global trend in green industries and renewable energy.

The forum sheds light on the green industries sector and encourages investment in them through a number of discussion sessions that examine the advantages of renewable energy in Duqm, supply and demand trends, consumer requirements and opportunities for successful investment in green industries in the Special Economic Zone at Duqm. The forum also highlights the green hydrogen sector, solar and wind energy, energy transmission efficiency, energy storage, the demand for green energy in global markets, and the expected role of partnership between the public and private sectors in achieving success for renewable energy projects.

The forum also addresses downstream projects for renewable energy in Duqm, taking advantage of the potential of renewable natural energy in Duqm, supplying renewable energy, decarbonisation, meeting industrial demand for green materials, the Internet of Things and smart manufacturing, and the opportunities available for exporting renewable energy. In light of the integration between the various projects in the Special Economic Zone at Duqm, the forum will discuss the opportunities available in the supply chain, and the important role of the Port of Duqm as a green port in stimulating investment in the green industries sector.

The Port of Duqm is one of the main capabilities in the Special Economic Zone at Duqm, and represents a logistics center. A global multi-modal port and a strategically located gateway to regional and global markets, the port is also an exceptional multi-purpose economic, commercial and industrial center. It also includes the dry dock with its various facilities for distinguished maintenance and repair work and thriving manufacturing operations.

Within this theme, the favorable opportunities for transportation, maritime and shipping companies in the Duqm Special Economic Zone will be reviewed, in addition to the giant industrial companies that use the services of the Port of Duqm and infrastructure, and the distinguished prospects for investment in this main center for global trade flows and a pioneer in the distribution of renewable energy will also be discussed. The forum will also discuss the network of factors that lead the Port of Duqm to success and give it a distinct competitive advantage.

The forum will review the significant investments in the Duqm Refinery and crude oil storage terminal. The largest oil storage and export project in the Middle East, and the opportunities this presents to petrochemical manufacturers targeting the growing markets associated with the transition to green energy and clean technology. Within this axis, the focus will be on decarbonisation strategies, the level of demand for petrochemicals, facilities for converting crude oil into chemicals, chemical recycling, research and development, innovation and advanced technology in this sector.

A group of local, regional and international companies investing in the Duqm Special Economic Zone will participate in the forum. It is expected that the forum will have extensive discussions from many experts, specialists and potential investors in the green industries sector and other sectors from the Sultanate of Oman and abroad, who will have the opportunity to learn about existing projects in The region and its distinguished investment climate, the ideal weather in Duqm, and its role in the success of investment in various economic sectors in the region.

The establishment of the forum comes within the framework of the great interest that the Authority attaches to green industries and promoting investment in this sector, in implementation of the royal directives of His Majesty Sultan Haitham bin Tarik to adopt the year 2050 as the date for achieving zero carbon neutrality, as the Special Economic Zone at Duqm has attracted strategic investments in the sector.

Green industries, including the Jindal Shadid Group project for the production of green iron, and the Valley Company complex for the production of green iron, in addition to the reduced iron factory that will be implemented by the Japanese companies “Kobe Steel” and “Mitsui and Partners Co., Ltd.”, due to the strategic importance of such projects in achieving The Sultanate of Oman’s aspirations to reduce carbon emissions, in addition to other economic gains such as enhancing local added value and providing business opportunities for local companies and small and medium enterprises.