A delegation representing the Economic and Financial Committee of Majlis Ash'shura visited Al Mazunah Free Zone to get famailiarised with the ongoing and future projects that are planned by the Public Establishment for Industrial Estates (Madayn) in Al Mazunah.
Eng Ali al Maashani, Director General of Al Mazunah Free Zone, briefed the committee on the free zone and its projects, and elaborated on the incentives that are offered to the investors in the free zone. These incentives include customs’ exemptions, 100 per cent foreign ownership, no minimum capital requirements, and the Omanisation rate stands at 10 per cent.
More incentives include easy access of individuals and investors to the free zone without entry visas being required for Yemenis, facilitation of employing Yemeni workforce without work visa being required, in addition to other incentives.
A number of service projects are currently being implemented in Al Mazunah Free Zone including new road network, water tanks and network, fiber optic network, and electricity and drainage networks. The facility building project, which is valued at more than RO 3 million, is also expected to be completed by end of this year.
The committee was also introduced to the tasks undertaken by the customs area in the free zone including the handling operations that are managed by Al Madina Logistics Services Company.
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