MUSCAT: The board of directors of the Public Authority for Special Economic Zones and Free Zones held its first meeting for the year 2024, chaired by Dr. Ali bin Masoud al Sunaidi, the Chairman of the Board, on Wednesday, March 20th, in Muscat.
During the meeting, the board reviewed the key performance indicators for the economic zones, free zones, and industrial cities under the authority's supervision. The cumulative investment committed by the end of 2023 amounted to around RO 19 billion, distributed across 14 existing zones, with a direct workforce of 75,000 employees and a general Omanization rate of 34%. Additionally, 80 electronic services were automated, and the direct revenues from these zones exceeded RO 61 million , a 15% increase from the targeted amount for 2023.
The board also discussed ongoing measures, including the project to update the Authority's system law and the steps taken to complete the establishment of previously announced new zones. The board approved exemptions from the insurance requirement for projects in line with the exemption criteria set by the Tender Board.
Furthermore, the board discussed several topics to enhance compliance and governance, including the authority matrix of the Public Establishment for Industrial Estates "Madayn" and internal audit committees, as well as the project to increase the green area in the Duqm Special Economic Zone, among other topics, and appropriate decisions were made regarding them.- ONA
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