Muscat: Oman and China’s Hainan Province are exploring new avenues for economic and investment cooperation, with discussions focusing on partnerships across special economic zones, free zones and industrial cities.

His Excellency Qais bin Mohammed Al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), received a Chinese economic delegation at the Authority’s headquarters in Muscat, headed by His Excellency Batter, Executive Vice Governor of Hainan Province in the People’s Republic of China.

During the meeting, the two sides reviewed investment opportunities available across the special economic zones, free zones and industrial cities supervised by OPAZ and discussed potential areas of cooperation with Hainan Province.

They also explored opportunities to establish investment partnerships between Omani and Chinese companies and institutions across a number of promising economic and industrial sectors.

Both sides stressed the importance of coordination, facilitation and creating a supportive environment for cooperation, while involving economic zones, companies and the private sector in developing and implementing investment and trade projects of mutual interest.

The discussions also focused on benefiting from shared expertise in developing and managing economic and specialised zones, strengthening integration between zones and ports, developing industrial clusters and attracting quality investments.

The meeting highlighted the importance of moving beyond broad frameworks of cooperation towards practical partnerships built around specific initiatives and projects.

OPAZ also presented an overview of Oman’s network of economic, free and industrial zones and the investment environment they offer, supported by the Sultanate’s strategic geographical location, regulatory flexibility and access to regional and international markets.

Officials highlighted the logistical advantages provided by Oman’s network of ports, airports and integrated infrastructure, which enables investors to access wider markets and expand their operations.

The two sides further discussed strengthening links between the business communities of Oman and Hainan Province and raising awareness among Chinese companies about investment and expansion opportunities within the zones supervised by OPAZ.

Such cooperation, they noted, could contribute to attracting quality investments, strengthening industrial integration and facilitating the transfer of knowledge and modern technologies.