MUSCAT (ONA) : Al Dhahirah Governorate has experienced significant economic growth across various sectors, leading to promising investment opportunities. This is due to a combination of favorable factors including geographic location, topography, climate, minerals, and natural resources.
Saleh bin Said al-Musalhi, Director General of Commerce, Industry, and Investment Promotion in Al Dhahirah Governorate, stated that six promising investment opportunities have been introduced in the food security sector to enhance self-sufficiency and increase exports to neighboring countries.
Al-Musalhi added that these investment opportunities cover areas such as date palm cultivation, squash cultivation, and Omani garlic cultivation, with a total area of 27 acres.
Regarding the most important projects in Al Dhahirah Governorate, Al-Musalhi highlighted the "Ibri Outlook" project, which reflects an ambitious vision aimed at developing a multi-use project that enhances Ibri City's identity as a local and regional commercial and recreational destination. The project, with a total area of 2 million square meters and an investment value of RO 183 million, is expected to commence its first phase in the next two years.
During the first half of 2024, the governorate recorded approximately 271 new commercial registrations, bringing the cumulative number of commercial registrations to 12,525. Additionally, around 1,136 industrial license applications were received during the same period, representing a 132.3 per cent increase. The cumulative number of industrial licenses in the governorate reached 3,659, with 337 new licenses issued in the first half of 2024.
A total of 102 automatic licenses were issued through the "Invest Easy" electronic platform or service centers.
Foreign direct investment registrations in Al Dhahirah Governorate jumped to 50 in the first half of this year, compared to 23 in the same period in 2023, marking a 117.9 per cent increase.
The Director General emphasized that Al Dhahirah Governorate is well-positioned to attract numerous promising local and foreign economic and investment projects due to its distinctive factors, including geographic location, topography, climate, and various natural resources.
He highlighted that the Ibri Industrial City, located on the road leading to the new border crossing between the Sultanate of Oman and the Kingdom of Saudi Arabia, serves as a vital hub for trade between the two countries. This industrial city will be a comprehensive multi-use city, encompassing industrial, logistics, and other investment sectors.
Al-Musalhi added that the Al Dhahirah Integrated Economic Zone will enhance trade, economic, and tourism activities in the governorate, as it includes various sectors such as industry, logistics, housing, and services. It will also strengthen integration with the Kingdom of Saudi Arabia and drive economic diversification and bilateral trade between the two countries.
The Director General noted that there is ongoing cooperation between the Ministry of Commerce, Industry, and Investment Promotion and various government and private entities to optimize the utilization of the governorate's mineral resources through mechanisms that ensure the sustainability of the sector, achieve added value, enhance economic growth in the Sultanate, and streamline licensing procedures.
He expressed hope that this project will create direct and indirect job opportunities, as well as business opportunities for small and medium-sized enterprises, and stimulate various sectors such as retail, construction, maintenance, services, hospitality, and restaurants. The project will consist of three hotels, a shopping mall, residential areas for real estate and commercial development, and environmentally friendly recreational areas such as parks, resorts, and a youth center.
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