OPAZ Board of Directors Approves Extending Concession Agreement for Free Zone Project at Muscat

Muscat: The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) held today its second meeting for 2023, chaired by Dr. Ali Masoud Al Sunaidy, Chairman of the Board.

During the meeting, the Board valued Royal Decree No. (44/2023) on establishing Khazaen Economic City, which will be overseen by OPAZ.

The Board stressed that the City will contribute to enhancing the business environment and creating new investment opportunities in South Al Batinah Governorate, along with other economic zones, free zones, and the existing and under construction industrial cities in various governorates.

During the meeting, the Board touched on the current progress of the masterplans of the Economic Zone in Al Rowdah in the Wilayat of Mahdah in Al Buraimi Governorate. In this regard, the Board discussed the protection alternatives from potential flood risks, in addition to highlighting the opportunities for direct connection between the Zone and the roads leading to the ports of Sohar and Shinas.

The Board was briefed on the existing coordination, through the Omani-Saudi joint Executive Committee, on the project for the Integrated Economic Zone in Al Dhahirah Governorate.

In addition, the meeting discussed linking locations with the road leading to the Empty Quarter boarders. Furthermore, the Board approved the incentives for the usufruct agreement and stressed continuing cooperation with the governors’ offices in the two zones.

With regards to the free zone project at Muscat International Airport, OPAZ Board of Directors approved extending the concession agreement for the operating company “ASYAD” for a renewable period of 50 years, in addition to the other advantages of the agreement.

Moreover, the Board commended the progressive results achieved by various departments of OPAZ in the field of automating procedures and digital transformation in line with the government evaluation system for digital transformation, and the steps taken to combat the use of paper transactions within and outside OPAZ by ending the process of sending and receiving paper documents except of correspondences of a special nature, starting from 1 July.

OPAZ Board of Directors was familiarized with the initial results of using artificial intelligence (AI) technologies and introducing employees’ qualification programmes.

Moreover, the Board was also briefed on the future programmes aimed at improving and speeding up the transactions between the economic zones, free zones and industrial cities, including the central services portal and the system for managing shipments and goods between the zones affiliated with OPAZ, in cooperation with the Ministry of Transport, Communications and Information Technology and the Royal Oman Police.

It is worth mentioning that the Public Authority for Special Economic Zones and Free Zones was established by Royal Decree No. (105/2020) on August 18, 2020. It oversees 14 economic zones, free zones, and industrial cities. It also supervises the establishment of a group of new economic zones, free zones, and industrial cities.