Muscat: In the first half of 2024 alone, the number of registered commercial records in Al Dhahirah reached 271, bringing the cumulative total to 12,525. The governorate also saw a substantial increase in industrial activity, with 1,136 industrial license applications submitted—a remarkable 132.3% rise—resulting in 337 new licenses and a total of 3,659 industrial licenses.

The digitalization of business processes through the Oman Business Platform has also played a pivotal role, with 102 automatic licenses being processed seamlessly. Foreign investment has seen a meteoric rise, with 50 new investment records registered in the first half of 2024, nearly doubling from 23 records in the same period last year—a 117.9% increase.

Saleh bin Saeed Al Musalhi, Director of the Department of Trade, Industry, and Investment Promotion, highlighted thgovernorate’s’s potential, particularly in the food security sector. Six promising investment opportunities have been identified in areas such as palm and gourd cultivation, as well as date and garlic production, spanning 27 acres. These initiatives aim to bolster self-sufficiency and increase exports to neighbouring countries.

A key driver of this economic boom is the Ibri Industrial City, strategically located on the route to the new Oman-Saudi Arabia border crossing. This industrial hub is set to become a vital link for inter-trade between the two nations, offering a comprehensive city with industrial, logistics, and other investment sectors.

The Ibri Logistics Zone is expected to further expand opportunities for the private sector, enabling small and medium enterprises to thrive by developing export industries and enhancing international trade. This zone will play a crucial role in Oman’s economic diversification and strengthen trade ties with Saudi Arabia.

Additionally, the integrated economic zone in Al Dhahirah will boost commercial, economic, and tourism activities, driving the governorate towards a future of sustained growth. The zone will feature various sectors, including residential and service industries, and enhance cooperation with Saudi Arabia.

The Dhahirah Governorate’s economic outlook is further brightened by projects like “Ibri View,” a multi-use development project covering 2 million square meters with an investment value of RO 183 million. Set to begin its first phase within the next two years, this project aims to transform Ibri into a commercial and entertainment hub, creating job opportunities and stimulating sectors such as retail, construction, hospitality, and more.