Muscat – These initiatives are part of OPAZ’s strategy to improve investor services and standardise the incentives and benefits available across these zones.

Dr. Said Khalifa Al Quraini, Director General of Investment Development at OPAZ, stated, “We are continuously refining our strategies to attract investors and enhance the overall business environment. These initiatives align with our commitment to attracting foreign investment and supporting local economic growth.”

In a press note published in the Duqm Economist Magazine, Al Quraini highlighted that the new initiatives include the introduction of additional electronic services tailored to meet investors’ expectations and needs. A key component is the Investor Services Project, which aims to provide e-government and operational services within OPAZ’s jurisdiction. Utilising cutting-edge technologies and best international practices, the project is set to streamline project establishment and improve service efficiency, thereby enhancing competitiveness for investors.

Dr. Al Quraini emphasized the importance of coordination with specialists at the Invest Oman Lounge to bolster its role in attracting strategic investments. He added that OPAZ plans to promote investment opportunities at both local and international events, optimizing the use of specialized communication tools.

This year, OPAZ organized several workshops that brought together investment development specialists from both OPAZ and the various zones. These discussions focused on improving facilities for investors, addressing their challenges, and enhancing strategies to increase investment volumes in targeted sectors.
Building on previous successes, such as activating automatic licensing and enhancing electronic platforms for land selection, OPAZ has made significant strides in 2023. The automatic licensing initiative allows investors to obtain project licenses in as little as 15 minutes. Additionally, fees for over 80 services were reviewed, resulting in reductions of up to 90 percent for many services, with fees for small and medium-sized enterprises cut by 50 percent.

Dr. Al Quraini noted that the Authority’s digital transformation has played a vital role in encouraging investments in the economic, free, and industrial zones. Investors can now access over 80 electronic services, significantly streamlining their ability to conduct business online.

Highlighting the advantages of investing in these zones, Dr. Al Quraini pointed out that OPAZ manages extensive land areas with competitive benefits, catering to a diverse range of investors, including small and medium enterprises, logistics companies, and large manufacturers. With 22 zones across various governorates, OPAZ assesses investor needs to direct them to the most suitable areas for their projects.
Key initiatives include:

• Unifying incentives and benefits across all zones
• Enhancing processes and methods for greater efficiency
• Launching a central platform to streamline investor services
• Introducing additional electronic services for easier access
• Strengthening collaboration to attract key strategic investments
• Upgrading the business climate to support growth
• Actively participating in local and international events to showcase investment prospects.