More estates for private investments

The Public Establishment for Industrial Estates (Madayn) is currently working on public-private partnership (PPP) for investments in industrial estates in Oman.
According to Hilal bin Hamad al Hasani, Chief Executive Officer of Madayn, this is being done following the success in attracting private investments in the Rusayl Industrial Estate. The industrial estates of Thamrait and Shinas will be the next to be opened up for private investments by the second half of 2020.
Al Hasani was speaking to the media on the sidelines of the Oman-India Investment Meet held under the auspices of Yahya bin Saeed al Jabri, Chairman of the Special Economic Zone Authority at Duqm (SEZAD) and Chairman of Ithraa.
“Mubadhara, which is managing all our assets, is fully owned by Madayn, and its main objective is to introduce the PPP concept. We will sell at least 49 per cent of our assets to the private sector,” Al Hasani said.
He said that Indian investments constituted 70 per cent of the 49 per cent investments in Madayn from outside and the relations between the two countries are growing at a steady pace.
The Sultanate of Oman and India enjoy long-term official, friendly, historical, cultural and economic relations.
The industrial scene in Oman is dynamic with investment activities from Indian investors, he said.
“Indian investors are among the top three nationalities investing in Madayn’s various industrial estates across Oman. They are followed by investors from GCC countries, America, Canada, China, Korea, the UK and Germany,” he said.
With the aim of boosting Oman-Indian investment ties, Madayn has set up a representative office in India to promote Oman as an attractive destination for investments.
“We have more than 2,200 companies operating with $17 billion investments. They are employing more than 60,000 of workforce and work is under way to launch two new industrial cities in the country,” he said. The investment climate in Oman is very comfortable and healthy for people to come and invest.
“We have a single window system with which we can cater to all their registration and other formalities quickly,” added Al Hasani.
Speaking on the occasion, Munu Mahawar, Ambassador of India to the Sultanate, lauded the initiative by Madayn for inviting Indian companies to Oman for a joint investment meet.
“There are many areas with huge potential for cooperation between the two countries. This will lead to greater economic engagement between the two countries and strengthen the partnership,” he commented.
He noted that the SEZAD has organised road shows in India, and at every event, the diplomatic mission has featured Duqm’s potential to attract more Indian investors. In the coming years there will be more such initiatives.