Muscat: An Iranian business delegation visited Al Rusayl Industrial City, which falls under the umbrella of the Public Establishment for Industrial Estates – Madayn, to get familiarised with the investment climate and business opportunities in the Sultanate. Mustafa bin Maqbool Al Lawati, CEO of Oman Investment and Development Holding Company (Mubadrah), discussed with the Iranian delegation cooperation prospects in various areas and briefed them on the incentives offered by Madayn to attract investments to its industrial cities. 

The delegation was briefed on the vision of Madayn in enhancing the Sultanate’s position as a leading regional centre of manufacturing, ICT, innovation and entrepreneurship excellence, and its mission in attracting industrial investments and providing continued support, through regionally and globally competitive strategies, good infrastructure, value-adding services, and easy governmental processes.

Moreover, Madayn officials elaborated on the available investment opportunities in its industrial cities in light and medium industries, and the incentives and facilities offered by Madayn to the investors in its various industrial cities. These incentives include lease period of lands and facilities for up to 30 years, renewable for the same period; right to waive the lease right for the remaining period of the contract; right to sell constructions and buildings on the leased land; right to involve new partners in the lease contract; fair evaluation of buildings and facilities upon the termination of the lease contract; developed and equipped lands with basic services (water, electricity, telecom, roads); and transparent legal frameworks illustrating rights and obligations; punctuality in service delivery; in addition to other incentives.