Oman intends to unveil new projects that will be set up in its Southern Salalah Free Zone as part of a drive to attract foreign capital and diversity to its oil-reliant economy, the Zone’s CEO was quoted on Tuesday as saying.
Ali bin Mohammed Tabook said the spread of Coronavirus in the Gulf state and most other countries has not affected project activity in the zone, one of several free zones built in Oman to lure in foreign investment.
He said the zone has attracted 87 projects, mostly foreign-owned, since it was created nearly 19 years ago with more ventures in the pipeline.
“Despite the current difficult circumstances in Oman and other countries, work has not been affected in Salalah zone…we have recently received requests from investors abroad to set up projects…these are large projects and we hope we will be able to accommodate them in the zone,” Tabook told the Arabic language daily Al-Watan.
He said other smaller projects by local and foreign investors are under study and would be revealed in the next few months.
“We expect a large increase in foreign capital inflow in the coming period following the approval of laws regulating public-private sector partnership as well as bankruptcy and foreign capital laws,” he added.
Zawya
21/04/2020
