Oman-India Explore Investment Partnerships

Yahya bin Said Al Jabri, Chairman of the Special Economic Zone Authority at Duqm

The Public Establishment for Industrial Estates – Madayn recently organised the Oman-

India Investment Meet at Crowne

Plaza Muscat aiming to explore partnerships between Omani and Indian companies and factories.

The meeting was organised under the auspices of Yahya bin Said Al Jabri, chairman of the Special Economic Zone Authority at Duqm and chairman of Ithraa.

The event was attended by a high profile business delegation from India comprising 35 businessmen representing sectors including food, logistics, information technology, telecommunications and renewable energy, in addition to a number of business and investment officials representing various public and private bodies in the Sultanate. Speaking at the event, Hilal bin Hamad Al Hasani, chief executive officer of Madayn, said: “This gathering represents an ideal platform to get acquainted with the incentives offered by the Sultanate in general and Madayn in particular to potential investors.” “The Sultanate of Oman and India enjoy long-term official, friendly, historical, cultural and economic relations. The industrial scene in Oman is seeing a dynamic investment activity from the Indian investors.

“In fact, the Indian investors are among the top three nationalities investing in Madayn’s various industrial cities across Oman. With the aim of boosting Oman-Indian investment ties, Madayn has set up a representative office in India to promote Oman and Madayn as an attractive destination for investments,” he added.

Indian firms invited to invest in Oman’s industrial cities

Madayn, organized the Oman-India Investment Meet at Crowne Plaza, Muscat

“Today, we have more than 2,200 She noted that Omani companies projects investing in Madayn’s are capitalising on India’s industrial cities, which are outstanding growth and doing employing more than 60,000 of business across India in sectors as workforce. By the end of 2018, the diverse as food processing, energy, total volume of investments has infrastructure, tourism, fisheries, touched more than $17 billion. mining and manufacturing. Besides, work is underway to launch two new industrial cities in the country. The two cities will be the first to be fully developed and managed by the private sector through developers with international expertise in this field,” Al Hasani explained. Delivering his presentation, Jalal Al Lawati, marketing and promotion director at the Special Economic Zone Authority at Duqm, explained that Duqm enjoys a strategic location, international relations, availability of diverse natural resources, multi-model Nasima Al Balushi, director transportation system, and ease general for Investment and Export of doing business. at Ithraa, said: “Oman and India have ancient trading links. Links that remain as strong as ever today. In fact, Oman’s exports to India have more than doubled over the last four years. He also elaborated that the economic drivers include potential land area for development (total area of 2000 sq km and 90 km coastline); export manufacturing platform – based on key economic “Over many years, our two nations sectors- petrochemicals, mineral have built shared interests in processing and fisheries-based each other’s prosperity, in the industry; maritime transit hub generation of jobs, the development and a logistics gateway; and an of skills and the enhancement incubator of renewable energy and of competitiveness. And today, clean technology industries. we have the opportunity to not only build upon and strengthen this special relationship but also to come together and meet the challenges of the future.” Mustafa Al Lawati, acting CEO of Oman Investment and Development Holding Company (Mubadrah), stated that Madayn introduced Mubadrah to strengthen Public-Private Partnership (PPP). Mubadrah is undertaking constant efforts to attract international developers and operators in accordance with best practices in the development of industrial cities. Mubadrah aims at developing and improving the operational processes, competitiveness, infrastructure and facilities of the various industrial cities. Mustafa Al Lawati then outlined the incentives offered by Madayn to the investors including lease period of lands and facilities for up to 30 years, renewable for the same period; right to sell constructions and buildings on the leased land; right to lease the buildings and facilities built on the leased lands by investors; right to involve new partners in the lease contract; exemption from tax on net profit for a period of five years for industrial projects; exemption from customs duties and taxes on production input; among other incentives. It should be noted that Madayn has introduced concessions with PPP for a period of up to 99 years and it is the only body that offers this kind of concepts in Oman.