OPAZ Board holds its fourth meeting for 2023 reviews transferring power of Madayen to OPAZ
Muscat: The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) held today at its HQs in Muscat its fourth meeting for 2023 under the chairmanship of His Excellency Dr. Ali bin Masoud Al-Sunaidi OPAZ Chairman.
OPAZ BoD reviewed the executive steps to transfer the powers of the Public Establishment for Industrial Estates (Madayen) to the Board of Directors of OPAZ
OPAZ BoD also scrutinized the institutional risk register, the general framework for risk management and emergency situations, and the risk management policy and emergency situations in economic zones, free zones and industrial zones supervised by OPAZ.
The BoD also delved into the executive procedures of the Muscat International Airport Free Zone venture undertaken by ASYAD Group, a subsidiary of Oman Investment Authority OIA. The usufruct contract was signed with the Group and the tender for the infrastructure of the area within the boundaries of the airport was floated. The BoD also discussed other topics and took appropriate decisions thereon.
It is noteworthy that the Public Authority for Special Economic Zones and Free Zones (OPAZ) was established by Royal Decree No. 105/2020 dated 18 August 2020 to oversee the Special Economic Zone at Duqm, the free zones in Sohar, Salalah, Al Mazyona and any other special economic zone or free zone in the Sultanate of Oman. OPAZ also supervises the Public Establishment for Industrial Estates (Madayen) as per Royal Decree No. 53/2022 and Khazaen Economic City as per Royal Decree No. 44/2023.
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