Oman and Uzbekistan eye zone investments

MUSCAT: The Sultanate of Oman and Uzbekistan are exploring manufacturing, logistics and export projects in their economic and free zones as they seek to expand bilateral investment and trade.
Qais bin Mohammed al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), discussed the opportunities with Sahib Sevnazarov, Head of the Special Economic Zones Department at Uzbekistan’s Ministry of Investment, Industry and Trade, during a visit by an Uzbek delegation.
The talks focused on encouraging Uzbek companies to establish production, manufacturing and logistics projects in zones overseen by OPAZ, alongside opportunities for Omani investors in Uzbekistan’s economic and industrial zones.
Potential sectors include agro-processing, food production, chemicals, mining, construction materials and logistics.
The two sides also explored establishing trade, distribution and logistics centres for Uzbek products in the Sultanate of Oman and connecting them with logistics hubs in Uzbekistan to facilitate access to regional and international markets.
The meeting followed earlier discussions aimed at turning proposed areas of cooperation into projects and initiatives. Both sides considered drawing up a joint roadmap setting out priorities, implementation arrangements and monitoring mechanisms, as well as potentially establishing a joint working group.
They reviewed a draft memorandum of understanding to provide a formal framework for cooperation. No agreement was announced.
Discussions also covered sharing expertise in zone development and management, simplifying investment procedures and improving single-window services for investors.
Training programmes, technical visits and exchanges of experts were among the measures considered to strengthen institutional capabilities and develop skills.
OPAZ said the proposed cooperation aimed to attract investment supporting production, exports and value chains within the zones under its supervision. — ONA