DUQM: His Highness Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports, and Youth, inaugurated the 1st Duqm Economic Forum, which opened on Monday, at the Special Economic Zone at Duqm (SEZAD) under the theme ‘Duqm Leads Change’. The two-day event aims to showcase investment opportunities in SEZAD, as well as the upbeat economic environment in the Sultanate of Oman in general.
Proceedings over two days delve into emerging trends within the green industries and the renewable energy sector. Various presentations will also highlight the most prominent projects that are in various stages of development and operation in the SEZ, positioning Duqm as a hub for industrial and investment activities and a gateway to international trade.
The primary focus of the forum centers on the region's pivotal role in the transition towards renewable and technical energy applications for production and export. Various speakers will deliberate on various aspects related to investments in green industries and explore opportunities for small and medium enterprises. Representatives from both local and international companies will also share their capabilities and experiences across various economic sectors, particularly in the realm of the green economy.
Dr Ali al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), speaking at the inaugural Duqm Economic Forum, emphasized the pivotal role of Duqm in Oman's rapidly growing economy. The city is poised to become a catalyst for innovation and investment, positioning itself as a vibrant hub for green manufacturing and renewable energy.
Dr Al Sunaidy stated that Duqm is making strides in harnessing solar and wind energy throughout the year, and it is committed to advancing green industries. This transition aligns with Oman's Vision 2040, led by His Majesty Sultan Haitham bin Tarik, which includes the goal of achieving CO2 neutrality by 2050.
The First Duqm Economic Forum serves as a platform for over 400 investors, experts, technology specialists, and financial agencies to explore the vast potential of this economic zone. It showcases the outstanding infrastructure and support offered, creating a one-stop solution for investors.
While attracting international investment is a primary goal, the forum also seeks to establish common ground on sector-specific industries using local resources for environmentally friendly manufacturing. Dr Ali al Sunaidy emphasized the importance of adapting utilities and service corridors to cater to future projects, enhance the supply chain, and expand storage capacity near the Port of Duqm and Raz Markaz.
The outcome of this forum is expected to attract new startups, fostering job opportunities for Oman's skilled youth. The government has allocated substantial land for renewables, making it easily accessible for future projects. Duqm's comparative advantages and flexible master plan provide an ideal environment for green projects.
By making renewable energy and green hydrogen readily available in Duqm, the region aims to encourage various industries to thrive. It also seeks to attract international manufacturers in spare manufacturing and metals, supporting electrical equipment, automotive, vessels, and other sectors.
Dr Al Sunaidy expressed optimism about the forum's potential to forge new partnerships and welcomed companies from the Gulf Cooperation Council countries to invest in Duqm and other industrial zones. The stable business environment and success in public-private partnerships make Duqm a promising destination for businesses looking to capitalize on Oman's economic growth.
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