RIYADH: The Public Authority for Special Economic Zones and Free Zones (OPAZ) of the Sultanate of Oman signed a Memorandum of Understanding with the Economic Cities and Special Zones Authorities (ECZA) of the Kingdom of Saudi Arabia to support cooperation in enhancing the investment, economic and competitive appeal of special economic zones and free zones in the two countries.
The MoU sets out a general framework for joint activities and missions, and developing institutional competences between both authorities to achieve mutual benefits.
The MoU was signed by Dr Ali bin Masoud al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones, and Nabil bin Mohammed Khoja, Secretary General of the Economic Cities and Special Zones Authority in the Kingdom of Saudi Arabia.
Through this agreement, detailed studies and plans will be laid out for establishing an integrated economic zone in Al Dhahirah Governorate in Oman, and supporting joint investments in the economic zones in the two countries.
Further, the two parties will exchange expertise and know-how in their specialty, including the exchange of studies related to exemptions and incentives provided in special economic zones and cities.
Likewise, both authorities will collaborate in holding training courses, seminars, workshops and conferences as well as exchanging field visits.
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