State Council Bureau discusses proposal on free zones and draft Budget

MUSCAT: State Council Bureau on Wednesday discussed the proposal on establishment of free zones and decides to transfer the draft State Budget for the fiscal year 2018 to the expanded committee. The Bureau decided to transfer the draft State’s Budget for the fiscal year 2018 to the expanded committee composed of the Economic Committee members and the heads of the Standing Committees of the Council. The draft was received from Majlis Ash’shura with its recommendations in accordance with the Basic Statutes of the State. The meeting discussed the proposal of the Economic Committee on the establishment of free zones in Buraimi and Musandam. The objectives of free zones are to increase the state’s revenues from foreign currency, creating job, and to attract scientific and technical expertise, which will generate skilled and qualified human capital.