New incentives package announced for investors in Al Mazunah Free Zone

Muscat: The Public Establishment for Industrial Estates (Madayn) has unveiled a new package of incentives for investors and business owners in Al Mazunah Free Zone.

The announcement was made during the activities of Al Mazunah Economic Exhibition and Forum, reaffirming Madayn’s commitment to enhancing a robust investment environment in the Sultanate of Oman and attracting new investments.

Eng. Ahmed Khamis Al Kasbi, Director General of Al Mazunah Free Zone, stated that the Board of Directors of the Public Authority for Special Economic Zones and Free Zones (Opaz) has approved a set of incentives for the free zone in recognition of the significance of enhancing the investment climate and encouraging investors to expand their operations.

Al Kasbi said, “Among the highlights of these incentives include exempting investors from accumulated debts by 30%, in addition to a 50% reduction in rental costs for the next five years for existing and new investors. These incentives aim at increasing the free zone’s competitiveness and enhancing investment appeal. In fact, these incentives form a cornerstone of efforts to support economic growth, and promote innovation and sustainability.”

Al Kasbi added that Al Mazunah Free Zone has achieved significant progress in recent years in terms of investment and commercial activity. “In 2024, the volume of goods imported to the free zone reached over 240,000 tons, marking an increase of more than 20% compared to the volume recorded in 2023. The free zone presents a vital gateway for regional trade and a hub for economic activities with its fully developed infrastructure, essential facilities including road network, electricity, water and telecom networks, electronic services, warehousing spaces, and transportation services,” Al Kasbi added.

On another note, Al Mazunah Economic Exhibition and Forum continues its activities with the participation of over 100 local and international companies. The event provides a platform to explore collaboration and partnership opportunities.