Muscat: The Public Establishment for Industrial Estates (Madayn) has introduced a new set of incentives aimed at investors and business owners within the Al Mazunah Free Zone.
This announcement was made during the Al Mazunah Economic Exhibition and Forum, underscoring Madayn’s dedication to fostering a strong investment climate in the Sultanate of Oman and attracting fresh investments.
Eng. Ahmed Khamis Al Kasbi, Director General of Al Mazunah Free Zone, noted that the Board of Directors of the Public Authority for Special Economic Zones and Free Zones (Opaz) has sanctioned a series of incentives for the free zone, acknowledging the importance of improving the investment landscape and motivating investors to broaden their operations.
Al Kasbi remarked, “Key features of these incentives include a 30% exemption on accumulated debts for investors, along with a 50% reduction in rental fees for both existing and new investors over the next five years. These measures are designed to boost the competitiveness of the free zone and enhance its attractiveness for investment. Indeed, these incentives are fundamental to our efforts in supporting economic growth while promoting innovation and sustainability.”
He further highlighted that the Al Mazunah Free Zone has made notable strides in recent years regarding investment and commercial activities. “In 2024, the volume of goods imported into the free zone surpassed 240,000 tons, reflecting an increase of over 20% compared to the previous year. The free zone serves as a crucial gateway for regional trade and a center for economic activities, equipped with fully developed infrastructure, essential facilities such as a road network, electricity, water, and telecommunications, as well as electronic services, warehousing, and transportation options,” Al Kasbi added.
Additionally, the Al Mazunah Economic Exhibition and Forum continues to engage over 100 local and international companies, providing a valuable platform for exploring collaboration and partnership opportunities.
