Omani Official: Economic Zone of Dhahirah “Promising Investment Horizons”
Dr. Ali Al-Sunaidi, the Chairman of the Special Economic Zones and Free Zones Authority in Oman, underscores the immense investment opportunities harbored in the Dhahirah Economic Zone, poised to bolster the commercial exchange between Oman and Saudi Arabia.
The meticulously planned economic zone is a hallmark of Oman’s forward-thinking strategies, tapping into synergies with neighboring Saudi Arabia to propel economic growth.
Visionary Leadership: Ali Al-Sunaidi at Helm
Dr. Ali Al-Sunaidi’s leadership is instrumental in spearheading the Special Economic Zones and Free Zones Authority in Oman. His diligent efforts are encapsulated in the progressive stride towards fostering robust economic zones, notably the economic zone in Dhahirah.
As of the end of 2022, the total investment in the 13 regions overseen by the authority was about 15.2 billion Omani riyals.
Dhahirah Economic Zone: A Gateway of Opportunities
The economic zone, under meticulous planning and management, is envisioned as a catalyst for Oman-Saudi economic integration. A committee is actively working on a developmental plan encompassing a myriad of programs and initiatives for this integrated zone.
Additionally, the establishment of a joint Omani-Saudi company is on the anvil to manage and operate the zone. It further emphasizes the collaborative essence of this project.
Oman-Saudi Collaboration: A Trade Conduit
The economic zone in Dhahirah is a physical manifestation of the blossoming trade relations between Oman and Saudi Arabia. It serves as a conduit to enhance economic cooperation, with a focus on mutual benefits and investment facilitation.
The zone is a crucible for innovative ventures, fostering a conducive environment for investments in targeted sectors.
Moreover, the Ministry of Finance and the Saudi Fund for Development signed a MoU to finance the infrastructure project of the economic zone in Dhahirah, a testament to the solidified cooperation between the two nations.
Dhahirah Economic Zone: Progressing Towards Economic Milestones
The execution committee convened to discuss the foundational steps towards establishing the Omani-Saudi company, that will manage the zone. The committee deliberated on the developmental plan for the zone’s infrastructure, identifying investment opportunities in targeted sectors, and proposing incentives.
The economic zone, as elucidated by Al-Sunaidi, is a monumental stride towards augmenting trade ties between Oman and KSA. This collaborative venture is a testament to the foresight of Oman’s economic planners, and a promising venture towards a prosperous economic horizon.
