Private sector investment in Oman’s economic zones, free zones, and industrial cities soared past $5 billion in 2024, highlighting the Sultanate’s rising profile as a regional hub for industry, logistics, clean energy, and commerce.
According to Duqm Economist magazine, a total of 325 investment agreements were signed under the supervision of the Public Authority for Special Economic Zones and Free Zones (OPAZ), amounting to more than $5 billion (USD) in committed capital across six major zones.
Key Highlights:
Duqm SEZ led with $2.99 billion in private investment. Clean energy drew $750 million, while tourism saw $2.2 billion, indicating strong interest in hospitality and leisure development. Industrial, residential-commercial, and agriculture also contributed.
Sohar Free Zone secured $1.85 billion from nine agreements, with $1.63 billion in industrial and $211 million in logistics investments.
Salalah Free Zone received $1.47 billion, mainly directed towards industrial projects ($1.46 billion) and supporting commercial services.
Khazaen Economic City (KEC) attracted $210 million across 39 deals, led by $104 million in pharmaceuticals, $67 million in industry, and $30 million in food and logistics.
Al Mazunah Free Zone, though smaller, drew $1.93 million in investments, primarily in industrial and commercial activities.
Madayn (Oman’s public industrial estate operator) reported $636 million from 218 agreements, heavily focused on industry ($546 million), commerce, and tech.
This surge in investment underscores growing confidence in Oman’s strategic location and business environment, supporting its Vision 2040 goal to diversify and modernize the economy through sustainable, sector-wide growth.
Source: Oman Daily Observer
