Muscat: The Ministry of Regional Municipalities and Water Resources on Monday signed three usufruct agreements for investment in sites owned by the ministry.
The total value of the investment contracts stands at RO 6 million and the projects will be implemented in Al Mabella industrial area in Muscat Governorate, Wilayat of Nakhal in South Al Batinah Governorate and the Wilayat of Al Buraimi in Al Buriami Governorate.
Following the remote signing of the agreements, Ahmed bin Abdullah al Shuhi, Minister of Regional Municipalities and Water Resources said that the ministry seeks to enhance investments in lands and sites owned by it in line with the Oman Vision 2040 vis-à-vis the economic development axis and the private sector’s participation in sustainable development.
He added that the ministry aims to provide opportunities to investors so that they can contribute to upscaling municipal and water services. The ministry has also set a target to boost the national economy by supporting small and medium enterprises and creating job opportunities for young Omanis.
The Ministry of Regional Municipalities and Water Resources has seen a notable progress with regard to investment development which had a positive impact in the growth of revenues and investment contracts with contracts worth in excess of RO 12 million signed between November 2019 and June 2020, the minister said.