Oman: SEZAD collaborations to foster foreign investment

PHOTO

MUSCAT: The Special Economic Zone at Duqm (SEZAD) has taken significant steps this week to strengthen its global partnerships and attract foreign investments by collaborating with a renowned Irish consultancy firm and hosting a high-level delegation from the Asian Infrastructure Investment Bank (AIIB). In a major initiative, SEZAD, in cooperation with the Irish consultancy, launched a comprehensive training programme aimed at enhancing its ability to attract and develop strategic foreign direct investment (FDI).

The programme, led by the Institutional Transformation Team at the Public Authority for Special Economic Zones and Free Zones (OPAZ), is designed to boost SEZAD’s capacity to attract investors through the provision of supportive facilities and effective post-investment care.

The training programme focuses on several key aspects, including the critical role of FDI in fostering economic growth, generating job opportunities, and increasing the gross domestic product (GDP). It emphasizes the importance of proactive strategies in attracting foreign investors and offers insights into developing compelling value propositions, targeted marketing techniques, and effective management of existing foreign investors to promote business expansion and maximize growth. Participants are also exposed to a range of statistics and indicators related to global FDI projects and best international practices in attracting and localizing foreign investors, as well as providing high-quality post-investment services.

This initiative is a vital component of OPAZ's broader Institutional Transformation Programme, which aims to activate the Authority’s role in transferring knowledge and empowering its employees to attract more local and global investments. The programme builds upon previous efforts by the Institutional Transformation Team, which has implemented several training sessions to enhance the skills of OPAZ employees in attracting investments.

Further highlighting SEZAD's commitment to expanding its international collaborations, a delegation from AIIB was received earlier this week on Monday. The delegation met with Dr. Ali bin Masoud al Sunaidy, Chairman of OPAZ, and Eng. Ahmed bin Ali Akaak, CEO of SEZAD, along with other senior officials from the Authority. Discussions during the meeting centered around potential investment opportunities, strategies for enhancing economic ties, and exploring ways AIIB could support SEZAD's strategic development goals.