Despite the economic fluctuations caused by coronavirus (COVID-19) pandemic worldwide, Samayil Industrial City is witnessing increasing investment demand from business owners and investors, says Eng Dawood bin Salim al Hadabi (pictured), Director General of Samayil Industrial City.
During the first half of 2020, the number of investment applications for industrial, service and commercial projects has reached 19. Of these applications, seven have already been localised and the rest are under study and evaluation before getting localised. This brings the total number of signed contracts in Samayil Industrial City to more than 155. The total investment volume has exceeded RO 85 million, which is expected to reach RO 125 million after the completion of projects.
Al Hadabi commented, “This growing demand is attributed to the ideal investment environment presented by Samail Industrial City to the investors, which is supported by a package of incentives and facilities such as exemption from customs duties and taxes on production inputs, lease period for up to 30 years and renewable for the same period, and participation in internal and external Omani Products Exhibitions as part of ‘Made in Oman’ campaign, among other incentives.”
Al Hadabi informed that the number of operating factories in Samail Industrial City has touched 54 representing various industrial sectors. Moreover, the number of under construction factories has reached 52, and many of these factories are expected to begin production this year. “Besides, 49 projects have been allocated with space, as the total leasable land area is approximately 5.4 million sqm, of which 2.4 million sqm has been leased. It should be noted that mining, manufacturing, marble and steel industries are among the most growing sectors in Samayil Industrial City. A site has also been allotted for the food industries to keep pace with the significance of food security and high-tech industry in the advancement of the Sultanate’s national economy.
He added that the industrial city in cooperation with relevant bodies is undertaking significant efforts to increase employment opportunities for the national cadres. The total number of Omani workforce working in 54 factories in Samayil Industrial City has touched 314. “Madayn Industrial Academy is making constant efforts to develop various skills of the human cadres, provide value-added services to investors, and create new job opportunities for the national cadres.
Al Hadabi noted that Samayil Industrial City is currently implementing a number of key projects in cooperation with the private sector, which include the administration and facility building. The completion rate of this project has exceeded 50 per cent. “These projects represent the efforts made by the Public Establishment for Industrial Estates – Madayn to provide more facilities and incentives to encourage local, regional and foreign investments in its industrial cities as well as contribute to the growth of the industrial sector in the Sultanate and consequently boost the national economy,” Al Hadabi stressed.
With a total building area of around 16,400 sqm, the administration and facility building project will consist of 8 floors (ground + 7 floors) with a rental area reaching 12,280 sqm, which will offer various services and facilities for the workforce in Samayil Industrial City and neighbouring areas. This project will offer space dedicated to public and private bodies, commercial stores, banks, cafes and restaurants, telecom companies, among other services. The project is expected to be completed by the end of 2020.