25 per cent rise in applications for investments

MUSCAT: Applications for investments in various industrial estates coming under the Public Establishment for Industrial Estates (PEIE) witnessed a growth in January as 76 applications were received compared to 61 during the same period in 2017, recording a growth of 25 per cent.
The highest number of applications were received in Raysut Industrial Estate with 14, followed by 12 in Sohar Industrial Estate, 9 in Sur Industrial Estate, 7 in Samayil Industrial Estate, 3 in Nizwa Industrial Estate and 2 in Al Buraimi Industrial Estate.
The industrial estates are expected to get more applications for investments during the coming period, especially with the recent announcement by PEIE of the new incentives and investment regulations to attract and encourage investors to the Sultanate.
The demand for investment in Al Mazunah Free Zone also increased in January, as 29 applications were recorded compared with two during the same period in 2017.
The PEIE continuously seeks to develop the investment environment in Al Mazunah Free Zone. The free zone has launched its electronic system this year, which comes in line with PEIE’s strategy of electronic transformation in all its transactions.