Muscat: Duqm will become a global hub for trade, according to Yusuf bin Alawi bin Abdullah, Minister responsible for Foreign Affairs.
Speaking on the heels of the 74th UN General Assembly, Alawi said Duqm is starting to attract the attention of foreign countries. “The Special Economic Zone in Duqm, especially began attracting a great deal of attention from countries regarding exports after Oman established a massive port of Duqm. They want to use the port and the special economic free-zone as a central hub to gather products and then re-export them to other countries,” Alawi said.
“We expect that SEZD will become a globally recognised area for petrochemical and other industries, and as a spot for re-export to other countries. This is, of course, supported by the government and His Majesty Sultan Qaboos bin Said, may he be safe, in order to happen gradually in the next five year plan, the next ten year plan, and the plan for 2040,” he added.
Read More
- MSX addition to FTSE watchlist reinforces Oman’s global investment standing: FSA President
- RBI may hike repo rate in next two policies, absorb additional Rs 2 lakh cr liquidity: Report
- Global crop prices rise up to 30%, but agrochemical demand remains weak: Jefferies
- BankDhofar’s EasyBiz receives excellent response from businesses across Oman
- Reserve Bank of India raises key repo rate to 5.5% amid inflation concerns
According to Alawi, countries like Russia are planning to invest in Duqm. “The Sultanate of Oman’s unique geographic position makes it a point of interest for many countries across the world. This comes both from the countries which have positive relations with us, and also from those with which we’ve had less interactions in the past. For example, Russia’s interest has grown exponentially in recent years,” he added.
