Duqm promotion in Korea calls for further economic partnerships

SEOUL: The Promotion Campaign on Special Economic Zone in Duqm (SEZD) affirmed the deep economic relations between the Sultanate and Korea. The campaign also called for further economic and investment partnerships between the two countries.

The promotion campaign on SEZD, which is organised by the Special Economic Zone Authority in Duqm (SEZAD), in cooperation with the Sultanate’s Embassy in Korea, is currently hosted by the Republic of Korea.
Yahya bin Said al Jabri, Chairman of the SEZAD Board of Directors, said that the existing political and economic relations between the Sultanate and the Republic of Korea are witnessing further progress and growth. He affirmed that the promotion campaign on SEZD in Korea affirms the maximum importance accorded to enhance the economic and trade ties between the two countries.
In a speech delivered at Invest in Duqm seminar held at Seoul on Thursday, Al Jabri added, “We aspire that this promotion campaign acts as a platform to explore investment opportunities in the zone”. He affirmed the strategic location and political stability in the Sultanate which qualify the Sultanate to be an economic hub in the region.
In his speech, the SEZAD chairman reviewed the economic importance of Duqm due to its strategic location and incentives provided by the SEZAD to investors. He called on Korean businessmen to closely familiarise with the projects being witnessed by the zone, as well as its available investments.
The promotion campaign on SEZD in Korea is the third destination for SEZAD within its current Asian tour. Two similar seminars were also organised in Tokyo and Osaka in Japan.
Mohammed bin Salim al Harthy, Sultanate’s Ambassador to the Republic of Korea, praised the SEZAD efforts in attracting investments.
He said that the seminar comes as part of the SEZAD strategy to augment investments in the zone.
Al Harthy affirmed that the seminar, in which 100 personalities representing businessmen and journalists attended, affirmed the deep relations binding the two friendly countries.
The Korean side affirmed its keenness to develop the economic relations between the Sultanate and Korea. The Korean under-secretary of the Ministry of Land, Infrastructure and Transport said that the memorandum of understanding (MoU) signed with SEZAD on cooperation in establishing smart cities opens broader fields before the Korean companies for investment in Duqm. He affirmed that Duqm is considered an ideal environment for Korean investments due to its location, incentives and facilities provided by the SEZAD and expected revenue for Korean companies through their investments in Duqm.
The deputy chairman of Chamber of Commerce and Industry of Korea praised Korean investments in the Sultanate particularly in petrochemicals sector. He hoped that the economic relations between the two countries would witness further progress.
Several presentations were delivered during the seminar from SEZAD, the Public Authority for Investment Promotion and Export Development (Ithraa), Oman Drydock Company and Oman Oil Company.
Working papers presenters highlighted SEZD potentials and its projects that support investment in the zone. B2B meetings were held with representatives of the Korean companies to reply for inquiries about investment opportunities in the zone, as well as available incentives. — ONA