6th Feb: In 2011, the government of Oman has established, The Special Economic Zone Authority at Duqm (SEZAD), as a regulatory and supervisory governmental entity responsible for regulating, managing and developing the Duqm Special Economic Zone ( Duqm SEZ) in the Sultanate of Oman .
SEZAD is committed to transform “Duqm region” into a world-class investment and leisure endpoint through planning, designing and implementing long-term strategies for infrastructure development and to attract Investments to promote a wide spectrum of economic activities. In addition to overseeing the urban expansion of modern Duqm City while protecting the environment, thereby ensuring” Duqm” is the right place live, work and invest in the Middle East
In fact Duqm SEZ project is an innovative initiative by the government to pushing the economic diversification further , securing job opportunities and accelerating regional as well as the industrial development in the region, Characterized by its enthusiasm, Duqm SEZ takes pride in what it has to offer to the world. It is prime location, political stability, natural resources, exceptional topography, and breath-taking scenery makes it an excellent choice for business and tourism
To facilitate the completion of this project successfully, the government is committed to providing a supportive and enabling environment through improved and expanded infrastructure and logistics, technology and innovation, and human resource development.
Strategically located, Duqm SEZ stretches over an area of 2,000 square meters alongside 90 km of coastline on the Arabian Sea. Not only is it one of the largest economic zones in the Middle East and North Africa (MENA); but amongst the largest and most significant in the world.
Duqm Dry Dock Facing the arabian Sea
Duqm has a prominent location facing the Arabian Sea, where investors can gain access to high-density population markets in India, Pakistan & Bangladesh and penetrate different markets leveraging Duqm strategic position. Most international trade routes pass close to or through the port, making it a gateway to the Middle East, North & East Africa, & South Asia
Additionally, SEZD’s location makes it a logistical supply gateway for GCC states and a significant breakthrough in achieving GCC economic integration, and due to its multi-modal connectivity system comprising sea, air, road network and upcoming inner rail network , thus making Duqm SEZ the logistics hub for Middle East Region , Indian subcontinents ,Asia and Africa.
In addition to its strategic location, the area surrounding Duqm is rich with oil, natural gas, and minerals in commercial quantities such as Limestone, Silica sand, Laterite, Basalt, Solar salt, and much more. These deposits can be mined, processed and exported out of Port of Duqm. Moreover, the abundance of marine resources along the Al Wusta coast makes Duqm a distinct & ideal location for fish processing, aquaculture, and related activities.
Duqm SEZAD is a model of an integrated economic development project, composed of the following sub -zones:
- Industrial Zone (Heavy, Medium & Small)
- Maritime Zone (Commercial Port & dry Dock )
- Air Port zone.
- Refinery and Petrochemical Complex
- Logistics zone.
- Fisheries zone and related Industrial Cluster.
- Commercial and Residential Zone
- Tourism zone (Hotels and Resorts)
- Education and Training zone,
Since the project is a large infrastructure and comprehensive investment, therefore, there are various areas of investment across a wide range of markets with adequate capacity to undertake various investment projects and opportunities to select from.
Duqm SEZ offers exceptional value proposition coupled with business support it provides to potential investors, such as 100% foreign ownership, no customs duty, 0% income and corporate tax, 30 years renewable tax exemption from the date of initiating the business, renewable lease agreements up to 50 years period , no currency restriction. In terms of business support, one of the biggest incentives to joining Duqm SEZ is the level of business support it offers through its “One Stop Shop”. Within this perspective, the investors would just need to deal exclusively with SEZDA one stop shop window to get the business work done right from the registration to various related approvals.
Investment is made very convenient through the one-stop-shop as it provides all the necessary services and procedures in one location. The One-Stop-Shop provides all the data and information required, commercial registration services, issuance of land usufruct agreements, issuance of licenses & permits, visa applications, and more.
Duqm Characterized by the diversity and beauty of its landscapes and a pleasant climate all year round. The encounter between the sea and the desert, further strengthening Duqm’s image as an ideal destination of relaxation and tourism-related investments. The rich cultural heritage, natural beauty and geographical variety, making it a prime investment opportunity and a preferred tourist’s destination.
Duqm Special Economic Zone is one of the frequently talked about today and Since Duqm is a developing region, there are countless projects yet to be established by potential investors.