Muscat: In an effort to foster greater collaboration between the Sultanate of Oman and the Hashemite Kingdom of Jordan across various economic sectors, the Public Authority for Special Economic Zones and Free Zones (Opaz) has formalized its commitment to this partnership through the signing of a Memorandum of Understanding (MoU) within the Special Economic Zone at Duqm Sezad. This significant agreement was signed by Engineer Ahmed bin Hassan Al-Deeb, the Deputy Chairman of Opaz, on behalf of the Omani delegation, and Nayef Hamidi Al-Fayez, the Chairman of the Board of Commissioners for the Aqaba Special Economic Zone Authority of Jordan, on behalf of the Jordanian counterpart.
The scope of this MoU encompasses a broad range of cooperative endeavors, focusing on mutual economic interests. These include the attraction of investments to designated special economic zones and the exchange of knowledge and expertise concerning the laws, regulations, and procedures associated with the management, operation, and development of special economic zones in both nations.
Both parties are committed to exploring opportunities for joint projects aimed at enhancing cooperation and development. Additionally, they intend to collaborate on establishing an international institutional framework for the zones, with the goal of improving competitiveness and cooperation across various sectors.
The MoU outlines a comprehensive framework for the exchange of experiences in managing, operating, and developing special economic zones. This includes areas such as urban planning, facilities management, and the investment environment, with a particular focus on smart city applications and their potential implementation within the zones under each party's jurisdiction.
Furthermore, the MoU commits to working together on the exchange of data and information pertinent to the management, financing, execution, and operation of infrastructure projects, in alignment with the relevant investment regulations of both countries.
The agreement also includes provisions for collaboration in the implementation of joint promotional programs and the coordination of regional and international conferences and seminars focused on investment activities within special economic zones. It further aims to facilitate the exchange of experiences and practices in employee training within these zones and the sharing of studies and research on the experiences of special economic zones.
In the logistics sector, the MoU details plans for direct and indirect coordination to optimize the utilization of transportation, storage, and distribution facilities. This will be instrumental in opening new export channels and increasing the volume of exports from the special economic zones of both countries to regional and international markets at the lowest possible costs. The parties will exchange expertise in organizing transportation movements for special economic zones, logistics, and ports.
Following the signing of the MoU, Nayef Hamidi Al-Fayez and his delegation are scheduled to visit prominent existing projects within the Sezad, including the Duqm Port, the dry dock, and the Karwa automotive factory.
