OPAZ unveils enhanced services to attract investors in economic zones in Oman

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MUSCAT: The Public Authority for Special Economic Zones and Free Zones (OPAZ) has introduced new initiatives aimed at improving services for investors in special economic zones, free zones, and industrial zones. These efforts align with OPAZ’s strategy to attract foreign investments and support local business growth.

Dr Said bin Khalifa al Quraini, General Director of Investment Development at OPAZ, emphasised, "We are committed to refining our strategies to enhance the business environment. This aligns with our core objectives of attracting foreign investment and fostering local investment growth in economic, free, and industrial zones."

A key aspect of these initiatives is the Investor Services Project, which introduces advanced electronic services to meet investors' expectations and needs. This project aims to streamline project establishment, improve service efficiency, and enhance competitiveness by utilising state-of-the-art technologies and best international practices. The platform offers e-government and operational services, significantly boosting investor convenience.

Moreover, OPAZ is increasing coordination with the Invest Oman Lounge to attract strategic investments in the zones it oversees. This collaboration aims to strengthen the lounge’s role and promote investment opportunities at various local and international events. Specialised communication tools will also be leveraged to optimize these efforts.

Dr Said bin Khalifa al Quraini, General Director of Investment Development at OPAZ.

In 2023, OPAZ successfully implemented several projects, including automatic licences, which allow investors to obtain project licenses in just 15 minutes. Other achievements include launching a comprehensive service provider, establishing a strategic project management platform, enhancing the electronic land selection platform, and streamlining import and export procedures. Fee reductions were also introduced, with many services seeing cuts of up to 90 per cent and fees for small and medium-sized enterprises reduced by 50 per cent.

Dr Al Quraini highlighted that OPAZ’s digital transformation has significantly encouraged investments in economic, free, and industrial zones. Investors can now access over 80 electronic services across all zones, enhancing business efficiency and convenience.

He also pointed out that OPAZ manages extensive land areas with significant competitive advantages, catering to a diverse range of investors, including SMEs, logistics, manufacturing, and real estate. OPAZ oversees 22 zones across various governorates, offering numerous investment options and assessing investor needs to direct them to suitable areas.

Dr Al Quraini reiterated OPAZ’s commitment to fostering a conducive business environment, boosting economic competitiveness, and maximizing the value of economic, free, and industrial zones.