MUSCAT: The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) has approved a series of additional incentives to attract investors, including significant reductions in rental costs across key industrial cities.
In its first meeting of 2025, the board announced a 50% reduction in rental fees for five years for new projects in Ibri Industrial City, Sur Industrial City and Mahas Industrial City. Meanwhile, investors in Al Mudhaibi Industrial City, Al Suwaiq Industrial City and Madha Industrial City will receive a 100% rental exemption for the first two years, followed by a 50% reduction for the next three years.
The incentives are part of OPAZ’s strategy to enhance Oman’s industrial sector by attracting more businesses, fostering economic diversification and creating job opportunities. The move aligns with Oman Vision 2040, which aims to boost private sector participation and increase the competitiveness of the sultanate of Oman’s industrial hubs.
“These new incentives reflect our commitment to strengthening the investment climate in Oman’s industrial cities. By reducing operational costs, we aim to encourage both local and international businesses to establish and expand their presence in the country,” an OPAZ spokesperson said.
The approved incentives are expected to drive new projects in key sectors such as manufacturing, logistics and technology. The focus on industrial cities highlights the government’s push to develop infrastructure, enhance supply chain efficiency and attract long-term investments.
OPAZ continues to roll out investor-friendly policies to position Oman as a regional hub for industrial development, reinforcing the sultanate of Oman’s efforts to create a more competitive and diversified economy.
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