MUSCAT, SEPT 7
Qais bin Mohammed al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), received today at the Authority's headquarters in Muscat an economic delegation from Hainan Province of the People's Republic of China, headed by Bater, Executive Vice Governor of Hainan Province.
During the meeting, the two sides explored ways to enhance economic and investment cooperation in special economic zones, free zones and industrial cities.
During the meeting, investment opportunities available in the special economic zones, free zones and industrial cities supervised by the Authority were reviewed, alongside discussing possible areas of cooperation with the Chinese province of Hainan, as well as exploring opportunities to establish investment partnerships between companies and institutions from both sides across a number of promising economic and industrial sectors.
The two sides emphasised the importance of coordination, facilitation and creating an environment supportive of cooperation, in parallel with involving economic zones, companies and the private sector in developing and executing investment and commercial opportunities and projects of mutual interest. They also highlighted benefitting from mutual experiences in developing and managing economic and specialised zones, enhancing integration between zones and ports, developing industrial clusters and attracting qualitative investments, thereby contributing to transitioning from general frameworks of cooperation to practical partnerships based on specific initiatives and projects.
During the meeting, the ecosystem of special economic, free and industrial zones supervised by the Authority was presented, along with the supportive investment environment it provides, benefitting from the Sultanate of Oman's strategic location, regulatory flexibility and openness to regional and global markets, as well as the logistical depth provided by the network of ports, airports and integrated infrastructure, which enhances investors' ability to access markets and expand their businesses.
The two sides addressed the importance of enhancing communication between the business communities in the Sultanate of Oman and Hainan Province; and introducing the opportunities available for Chinese companies to invest and expand in the zones supervised by the Authority, contributing to attracting qualitative investments, enhancing industrial integration; and transferring knowledge and modern technologies.
Both parties also affirmed the importance of continued coordination and exchange of expertise, as well as working to explore new areas for cooperation and partnership, enhancing economic and investment relations between the Sultanate of Oman and the People's Republic of China, represented by Hainan Province and serving the mutual interests of both sides. — ONA
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