Oman inks cooperation deal with Turkish industrial zone to attract investments

By Shilpa Annie Joseph, Desk Reporter
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Oman’s Public Authority for Special Economic Zones and Free Zones (Opaz) and the Ministry of Commerce, Industry and Investment Promotion have signed a cooperation deal with the Turkish Gebze Organized Industrial Zone (GOSB) to attract Turkish investments to the Sultanate through the Special Economic Zone at Duqm (Sezad).

The Turkish delegation’s visit to the Sultanate is organized in collaboration with Opaz by the Ministry of Commerce, Industry, and Investment Promotion, represented by the investment promotion sector. The visit aims to explore ways for the two countries to collaborate on trade and investment, as well as to meet with officials from a variety of government agencies.

During the visit, an initial agreement was signed for an investment project to replicate a model for the Gebze Organized Industrial Zone (GOSB) in the Special Economic Zone at Duqm (Sezad). The key joint investment sectors include mining, petrochemicals, food, and logistics. This joint investment project will be an activation model for the Turkish Industrial Zone in Duqm, as per the reports.

Eng. Ahmed bin Hassan al-Dheeb, Deputy Chairman of Opaz said, “The Turkish delegation will explore the potential opportunities in Duqm to attract the Turkish companies. Opaz is fully prepared to provide all facilities to these companies, which could easily access the regional and African markets through the Port of Duqm. As well, there are lands designated for gas-dependent projects as the gas pipeline project to Duqm is already completed and Duqm Refinery Project is on the way to complete too.”

Asila Salim Al Samsami
Asila Salim Al Samsami
Under Secretary
Oman Ministry of Commerce, Industry & Investment Promotion for Investment Promotion

“In light of the interest in developing trade relations between the Sultanate and the Republic of Turkey, different ways of strengthening trade cooperation between the two countries in various spheres were discussed in the meeting. Likewise, the delegation expressed high interest to form real partnerships in the targeted sectors, so the delegation will visit several bodies concerned during their stay in the Sultanate. The Ministry is determined to continue achieving its vision and mission, reflecting the objectives of Oman Vision 2040. This confirms the Ministry’s ongoing endeavor to efficiently market the national economy’s components. The major objective of the investments is to develop Omani exports and stimulate attracting investments from free zones in various sectors, thanks to the complementary efforts and cooperation of the Omani Embassy in Turkey and other authorities concerned.”

According to the Cooperation Programme, the Public Authority for Special Economic Zones and Free Zones will allocate land in the Medium Industries Zone at Sezad, so that the Turkish Gebze Organized Industrial Zone, as an investment developer, will promote the zone to companies operating in its industrial zone.

Related: Oman plans to spend $7bn on tourism sector; Minister


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