Muscat: The Public Authority for Special Economic Zones and Free Zones (OPAZ) and the Ministry of Commerce, Industry and Investment Promotion signed today a cooperation program with a trade delegation from the Turkish Gebze Organized Industrial Zone (GOSB) to attract Turkish investments into Oman through the Special Economic Zone at Duqm (SEZAD).

The Turkish delegation visit to the Sultanate was organized by the Ministry of Commerce, Industry and Investment Promotion, represented by the investment promotion sector, in liaison with OPAZ. The visit aims to discuss ways of trade and investment cooperation between the two countries and to meet with officials from many related authorities.

During the visit, an initial agreement was signed for an investment project to replicate a model for the Gebze Organized Industrial Zone (GOSB) in the Special Economic Zone at Duqm (SEZAD). The key joint investment sectors include mining, petrochemicals, food, and logistics. This joint investment project will be an activation model for the Turkish Industrial Zone in Duqm.

The Cooperation Programme was signed by His Excellency Eng. Ahmed bin Hassan Al Dheeb, Deputy Chairman of OPAZ, Asila bint Salim al Samsamiyah, UnderSecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion (MOCIIP), and Fahit Yildirim, Chairman of Turkish Gebze Organized Industrial Zone.

Signing the Programme reflects OPAZ efforts, in cooperation with the Ministry, to attract various foreign trade investments to the Special Economic Zone at Duqm. “The Turkish delegation will explore the potential opportunities in Duqm to attract the Turkish companies. OPAZ is fully prepared to provide all facilities to these companies, which could easily access the regional and African markets through the Port of Duqm. As well, there are lands designated for gas-dependent projects like the gas pipeline project to Duqm is already completed and Duqm Refinery Project is on the way to complete too”, stated HE Deputy Chairman of OPAZ.

Asila bint Salim al Samsamiyah added, “In light of the interest in developing trade relations between the Sultanate and the Republic of Turkey, different ways of strengthening trade cooperation between the two countries in various spheres were discussed in the meeting. Likewise, the delegation expressed high interest to form real partnerships in the targeted sectors, so the delegation will visit several concerned bodies during their stay in the Sultanate”.

Al Samsamiyah explained that the Ministry is determined to continue achieving its vision and mission, reflecting the objectives of Oman Vision 2040. This confirms the Ministry’s ongoing endeavor to efficiently market the national economy’s components. “The major objective of the investments is to develop Omani exports and stimulate attracting investments from free zones in various sectors, thanks to the complementary efforts and cooperation of the Omani Embassy in Turkey and other concerned authorities.”, She stated.

According to the Cooperation Programme, the Public Authority for Special Economic Zones and Free Zones will allocate land in the Medium Industries Zone at SEZAD, so that the Turkish Gebze Organized Industrial Zone, as an investment developer, will promote the zone to companies operating in its industrial zone.

In the duration of the meeting, held at OPAZ, the bilateral relations between the two countries were reviewed and the investment environment and opportunities and incentives offered by OPAZ to investors were presented. Moreover, the delegation was also briefed on the most bankable sectors that the Sultanate focuses on, infrastructure projects and economic projects that are relied upon during the coming era to attract foreign investment.

The Gebze Organized Industrial Zone (GOSB) is located in the middle of the Marmara District, with an estimated area of ​​5,160,000 sqm of land, constituting two-thirds of Turkey’s market. There are about 43 foreign companies and 163 companies in 188 industrial units in the Zone, with total exports estimated at $11 billion from the Zone in the year 2020.