Muscat: The volume of applications for industrial licenses within the Dhofar Governorate has surged by 63 percent, reaching 3,095 during the initial six months of 2024, a significant increase from the 1,897 applications recorded during the same period in 2023.
This development was announced by the Ministry of Commerce, Industry, and Investment Promotion through a press statement on the weekend. The Ministry also highlighted that there has been a notable rise in the issuance of certificates of origin during the first half of 2024, with a total of 5,348 certificates issued, a 34.9 percent increase compared to the 3,963 certificates issued in the same period of the previous year.
In terms of commercial registrations within the Dhofar Governorate, there has been a notable increase, with approximately 2,560 registrations recorded in the first half of 2024, a rise from the 2,846 registrations observed in the same period of the previous year, resulting in a total of 73,520 registrations across the governorate by the end of the first half of 2024.
Furthermore, the number of foreign investment registrations has seen a significant increase, with 253 registrations recorded in the first half of 2024, a stark contrast to the 744 registrations during the same period in 2023, culminating in a total of 11,480 registrations.
Regarding the number of active licenses in the Dhofar Governorate, it has reached an estimated 127,399 by the end of the first half of 2024.
Increase in industrial licence applications
The Director General of the Directorate General of Commerce, Industry, and Investment Promotion in Dhofar Governorate, Mohammed bin Khalifa Al-Badhrani, has attributed the surge in industrial license applications to the investment-friendly environment of the governorate, coupled with the facilities and incentives provided to investors.
Al-Badhrani also noted that the governorate has seen a significant increase in the licencing of commercial activities, with notable growth in the construction and contracting sector, export and import offices, and an increase in licenses for restaurants and cafes, vehicle mechanics, and retail clothing stores.
Enhancing Investment Climate for Empowerment of the Private Sector
The Director General of Commerce, Industry, and Investment Promotion within the Dhofar Governorate has underscored the efforts being made to improve the investment climate, with the objective of empowering the private sector to attract foreign investments and to spotlight significant investment prospects within the governorate.
Among the foremost investment opportunities currently available are the establishment of a sodium silicate manufacturing project in the Raysut area of Salalah, the development of a steel plant in Salalah for the production of light structural steel billets, and the initiation of a project for dolomite calcination units within the mining sector in Salalah.
Varied Investment Opportunities
The Director General highlighted the diverse range of investment opportunities present in the Dhofar Governorate, encompassing sectors such as fibreglass boat manufacturing, cement paper bag production, and the production of packaging materials for water and soft drinks.
The agricultural sector within Dhofar also thrives during the Khareef (monsoon) season, attributed to the seasonal rains that enhance food security and have a positive impact on the local economy.
Khareef Season as an Investment Stimulus
The Director General elaborated on the significant investment potential offered by the Khareef season, noting the notable increase in commercial activities within the governorate during this period. The retail sector, in particular, experiences a surge in sales and business activities, supported by the influx of tourists and residents, thereby bolstering small and medium enterprises (SMEs) and artisanal industries.
Exceptional Advantages
The Dhofar Governorate stands out in the logistics sector, thanks to the strategic location of the Salalah Port and the presence of a free zone.
The Salalah Free Zone has effectively drawn in a multitude of economic projects, with 127 usufruct agreements being signed, resulting in a total investment volume of OMR4.5 billion.
Incentives for Investment
Mr. Al-Badhrani emphasized that the Dhofar Governorate provides a wide array of incentives to encourage investments. These include a 30-year income tax exemption, customs exemptions, complete foreign ownership rights for investment projects, and additional benefits that position the governorate as a favored destination for investment.
