Muscat: The Public Authority for Special Economic Zones and Free Zones (OPAZ) has officially joined the World Free Zones Organization (World FZO), which promotes and develops free and economic zones across the world.
This agreement is consistent with the Authority's current efforts to improve the competitiveness of the special economic zones, free zones, and industrial cities under its administration.
It opens new opportunities to promote them globally as top investment places with flexibility, preparedness, and superior infrastructure, demonstrating Oman's commitment to enhancing the global presence of its economic zones.
By joining the World FZO, the Authority hopes to increase chances for knowledge sharing and the implementation of best practices with prominent international partners. It also wants to boost operational efficiency, create promotional and marketing materials, and help attempts to attract high-quality investments and projects that provide considerable value.
The Authority hopes to use this international collaboration to broaden its economic network and capitalize on global trends in the management and development of special economic zones, free zones, and industrial cities.
It is important to note that Oman now has 23 special economic, free, and industrial zones, with total expenditure predicted to reach RO 21 billion by the end of 2024.
The World Free Zones Organization comprises over 1,600 zones and economic groups from over 140 countries.
