40th edition of Duqm Economist launched

BUSINESS REPORTER

MUSCAT, JULY 5

The Public Authority for Special Economic Zones and Free Zones (OPAZ) has released the 40th issue of Duqm Economic Magazine, a media platform dedicated to spotlighting the latest developments in investment and growth across the special economic zones, free zones, and industrial cities under the Authority’s oversight.

This milestone edition features in-depth content, including exclusive interviews, analytical economic reports, and specialized coverage of key agreements, projects, and initiatives that signal the zones’ accelerating momentum toward sustainable development and high-value investments.

The magazine opens with full coverage of the landmark agreement to develop and operate the first phase of the Al-Rawda Special Economic Zone, an accord signed between the Sultanate of Oman and the United Arab Emirates, attended by His Highness Sayyid Theyazin bin Haitham Al Said and His Highness Shaikh Hamdan bin Mohammed Al Maktoum.

The editorial, titled “An Ambitious Vision for Sustainable Development and Promising Investment,” outlines the Authority’s strategic trajectory in positioning itself as a catalyst for economic transformation, aiming to cultivate globally competitive, investor-friendly economic and free zones and industrial cities in the Sultanate of Oman.

The magazine also highlights the recent decision by Shaikh Dr Ali bin Masoud al Sunaidi, Chairman of the Authority, to amend the regulations governing urban planning and building permits in the Duqm Special Economic Zone - an initiative set to strengthen governance and streamline procedures.

This edition features an exclusive interview with Dr Hilal bin Ali Al Sabti, Minister of Health, who revealed that eight pharmaceutical factories are currently operating within Oman’s free zones and industrial cities. He emphasised the Ministry’s direction in bolstering local pharmaceutical production and reducing reliance on imports.

The publication also offers a detailed review of 2024’s key performance indicators across economic and free zones, and presents the findings of a comprehensive study on the governing law of special economic and free zones, highlighting government efforts to unify incentives, integrate legislation, and foster an enhanced investment climate.

One of the most significant highlights is the coverage of Oman’s green hydrogen export project to Europe via Duqm, backed by a monumental $49 billion investment, underscoring the Sultanate of Oman’s leadership role in the global shift toward renewable energy.

Additionally, the magazine includes insights from Eng Nasser al Kindi, CEO of Invest in Oman, who disclosed that 90 investment projects - worth approximately RO 4.9 billion - were received and processed via the national platform.

Further highlights include a report on the Salalah Free Zone, which now hosts 97 investment projects totaling more than RO 4.74 billion, as well as a selection of inspiring success stories across a range of economic sectors. Also covered is the $1.3 billion investment in the polysilicon project within Sohar Free Zone, along with the sustainable labour housing model at the Housing Village project in Khazaen Economic City.