Picture Credit: Muscat Daily
Salalah Free Zone, a thriving regional hub for industrial and logistical activities, has secured five new investment agreements totalling RO44mn. These agreements involve local and international investors from Kuwait, Iraq, Jordan, and Hong Kong. The ventures include the establishment of a paper tissue factory, a modern air conditioning device manufacturing facility, a specialized factory for blood sugar test strip production, a plant for frankincense derivatives, and an import/export company for potash fertilizers. This achievement is part of Salalah Free Zone’s commitment to economic development, marking significant growth with new investments worth RO728mn in 2023.
1. Naseem Salalah Trading and Manufacturing Industries Company (Iraq): RO38mn investment for a paper tissue factory.
2. Kuwait Engineering Industries Company: RO4.56mn investment for a modern air conditioning device manufacturing facility under the brand ‘Moria.’
3. Tawfiq Medical Supplies Company (Jordan): RO760,000 investment for a specialized factory producing blood sugar test strips.
4. Wadi Hawjar Company (Oman): RO247,000 investment for a factory specializing in mixing and producing raw materials from frankincense derivatives.
5. Green Stream Solutions Company (Hong Kong): RO57,000 investment for an import, repackaging, and export company for potash fertilizers.
Salalah Free Zone, operated by Asyad Group, has experienced remarkable growth in 2023. Earlier this month, it celebrated the inauguration of three export-oriented projects in the food, petrochemicals, and mining industries. With nine new investment agreements, 1.2mn square meters of leased land, and eight construction permits issued, the zone’s commitment to economic development is evident. The cumulative investment in the Salalah Free Zone now exceeds RO4.5bn, with a land occupancy rate surpassing 50%. The zone, located near the Port of Salalah, aims to attract businesses and investors by providing tax exemptions, full foreign ownership rights, and world-class infrastructure.
As a premier hub for industrial and logistical activities, Salalah Free Zone is dedicated to supporting hosted projects comprehensively. With 39 operational projects, 21 under construction, and collaborations with Omani authorities, the zone is becoming increasingly attractive to investors. The ongoing developments showcase Salalah Free Zone’s commitment to creating a secure environment, offering reliable services, and stimulating economic growth in alignment with Oman’s economic vision.
Salalah Free Zone’s success in attracting diverse investments underscores its role as a catalyst for economic development in Oman. The strategic focus on collaboration with global partners and creating an investor-friendly ecosystem positions Salalah Free Zone as a key player in the region. With ongoing initiatives and a commitment to facilitating growth across various sectors, the zone is poised to contribute significantly to Oman’s economic landscape in the coming years.
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