Officials representing Al Mazunah Free Zone, which falls under the umbrella of the Public Establishment for Industrial Estates (Madayn), visited Port of Salalah — a premier transshipment and logistics hub overlooking the Indian Ocean and international shipping lanes.
Said bin Abdullah al Balushi, Acting Director General of Al Mazunah Free Zone, emphasised that the visit aims at boosting cooperation between the two sides and benefit from the rich experience of Port of Salalah in container operation, handling and storage.
“The visit comes at a time when Al Mazunah Free Zone is working on establishing the Dry Port project that aims at adding value to the investment climate in the free zone. This project is characterised by its strategic location that will ease access for the traders and clients coming from Yemen as well as the ease of customs clearance,” Al Balushi pointed out.
Meanwhile, a number of services have been completed over the past period in Al Mazunah Free Zone. These include the road network connecting the free zone with the neighbouring cities and markets, in addition to electricity, water, sewage, and telecom services. Additionally, work is under way in developing phase 2 of the free zone, as the completion rate has touched around 40 per cent. Work is also under way to develop integrated security systems in the free zone.
Al Mazunah Free Zone was established under Royal Decree 103/2005 to operate under the management of Madayn. The strategic location of the free zone on the border of the Sultanate and Yemen makes it the Gulf’s gateway for transit trade to Yemen and Eastern Africa. The free zone aims at attracting local and international investments to increase the volume of trade exchange, attract advanced technologies, and create job opportunities.
General incentives are offered to investors in the free zone, including customs’ exemptions, 100 per cent foreign ownership, no minimum capital requirements, and Omanisation rate stands at 10 per cent. Other incentives include easy access of individuals and investors to the free zone without entry visas being required for Yemenis, facilitation of employing Yemeni workforce without work visa being required, in addition to other incentives.