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Saudi Arabia eyes petrochem projects in Duqm SEZ

Duqm: The Saudi trade delegation, headed by Ibrahim bin Abdurrahman al Omar, Governor of the General Investment Authority of Saudi Arabia, visited the Special Economic Zone in Duqm on Monday. The Saudi delegation was received at the airport by Dr Ahmed bin Mohammed al Futaisi, Minister of Transport and Communications, and officials of the Special Economic Zone Authority in Duqm (SEZAD), Dry Dock and Oman Oil Company. During the visit, they discussed the prospects of economic cooperation between the two countries and reviewed the investment opportunities available in the port, dry dock and the logistics sector in the Sultanate.

The visiting delegation was shown a presentation, which highlighted the projects being implemented in the Special Economic Zone in Duqm.

Al Omar praised SEZAD’s efforts in developing the zone and making it an engine to diversify the Omani economy. He expressed his admiration for the projects being hosted by the zone and the growth of large service businesses and the advantages available to investors and businessmen. The Saudi delegation expressed its desire to invest in the petrochemical sector through studying the investment opportunities available in this sector. The delegation pointed out that it was agreed to hold a meeting with officials of the State General Reserve Fund to study all investment opportunities available in Duqm.

During his meeting with the delegation, Lee Kian, CEO of SEZAD, said that the authority provides many facilities for investors and businessmen, including facilitating the registration of projects, granting permits and licences and providing many incentives to encourage investment, adding that SEZAD contains various investment opportunities that provide many options for companies wishing to diversify their investments. He called upon Saudi companies to make use of the benefits and incentives offered by SEZAD for projects in the zone. The visit was part of the “Omani-Saudi Economic Forum” organised by the State General Reserve Fund to discuss the investment prospects in the Sultanate and increase trade cooperation between the Sultanate and the Kingdom of Saudi Arabia.

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