Sohar Freezone wins UK award

MUSCAT, oct 22 - For the third successive year, the jury from fDi Magazine, a part of the Financial Times publishing group, has awarded Sohar Freezone in Oman in two of their annual Free Zone of the Year categories. Sohar received commendations for ‘Infrastructure Improvements’ and for ‘Energy Independence’ from fDi Magazine Editor, Courtney Fingar, during a short ceremony held at Emirates Towers in Dubai last week.

Jamal Aziz, Sohar Freezone CEO, commented: “We are immensely proud to have received these two awards, particularly as they are benchmarked against best-in-class free zone facilities from around the world. They bear testament to our significant investments and on-going improvements in accessibility and energy infrastructure. Recent signings, like our new $300 million cotton yarn plant, that will provide over 1,500 new jobs in Sohar, show that international investors are equally impressed by what our growing Freezone can offer.”

Planning is under way for phase two of Sohar Freezone, as overseas investors discover the many advantages of Sohar Port and Freezone’s unique location outside the congested Strait of Hormuz, but close to the main markets of the Gulf and Indian subcontinent, coupled with world-class connectivity by land, sea and air.

Over the past five years, Sohar Freezone has emerged as a highly competitive investment location, with reasonable land-lease rates and available energy solutions, a well-educated local workforce, 100 per cent foreign ownership and 0 per cent personal tax. With a dedicated One-Stop-Shop team to manage all the licences and permits required, setting up a business in the Middle has never been easier.

CEO Mark Geilenkirchen, added: “We always strive to benchmark ourselves in Sohar against the highest international standards. Commendations of this kind, from respected organisations like the Financial Times group, are a great motivation for all our teams, and a good sign that the work they are doing to grow our business here is on track.”