What is the Special Economic Zone Authority?
Duqm Special Economic Zone was established in late 2011 under Royal decree No.119/2011. It is a governmental organization responsible of managing, organizing and developing Duqm Special Economic Zone. Its duties includes putting organizational foundations and monitoring all economical activities related to Duqm, handling planning and designing operations, implementing long term strategies to attract different investments and projects.
What makes Duqm Special Economic Zone recognized?
Duqm Special Economic Zone is considered one of the biggest economic zones in the Middle East and North Africa (MENA) with its area of 1,745 Kilometer Square that stretches along Arab Sea. It is also classified as one of the biggest economic zones in the world. Duqm was connected with a developed transport network including Land, Sea, and Air transportation and rail roads. Duqm region is rich in natural treasures besides moderate weather throughout the year, natural landscapes, beaches and stones Park.
What are the main work areas in Duqm Special Economic Zone?
Duqm Special Economic Zone is designed to include sectors and main towns as the following:
- The Port and the dry dock
- Fishing Port and fisheries industries
- Industrial Areas
- Logistics services
- Commercial Businesses Center
- Tourism area and Spas
- Educational Town
- Filters and petrochemicals complex
- New Duqm Town
- Duqm Airport
What are the special features given to investors in Duqm Special Economic Zone?
Duqm Special Economic Zone provides a package of facilities and features to both local and foreign investors along with the special geographical site of Duqm, the big existing multi- usage port, big dry dock for fixing ships, modern and developed facilities. There is a group of features such as 100% ownership right for foreign investor, exemption of customs duties, and exemption of income tax, and land utilization rights for a long time and with acceptable prices.
What are the companies that have the right to be part of Special Economic Zone?
All types of economic activities are allowed in Duqm Special Economic Zone regardless of the type or size of these projects whether they are small or medium industries or commercial services and logistics sectors or entertainment or tourism activities.
Is there any financial support presented from Duqm Special Economic Zone?
The Zone does not present any financial support to investors but it presents a group of features represent in tax exemption, land utilization with a reasonable price in addition to providing basic services to the Zone with good prices.
Can foreign investor establish his project in Duqm Special Economic Zone?
Foreign investor can establish his project without any need of local partner in the project.
What is the minimum Capital needed to start a business in Businesses sector in Duqm Special Economic Zone?
There is no minimum capital needed in case you desired to begin a foreign branch or a local company.
Are the lands of Economic Zone based on purchase or rent?
All lands in the Zone are based on rent with a long term utilization contract that could be renewed for another period.
What are the procedures needed to be followed to start a new commercial project in Oman?
- Presenting investment application form attaching all required documents per the model on the Authority website.
- Sending the application form to investors services Department in the authority with all attachments.
- The application will be evaluated by investors Services Department at the Authority together with specialized units.
- In case the application meets all conditions, the application will be approved upon allocation of a piece of land utilization accompanied by specification of the site coordination and attaching utilization agreement model.
- The investor is given 3 months period to examine the site and reviewing the utilization agreement. Before the end of this period, the application owner must check the authority or respond with confirmation on the site and utilization agreement.
- Upon agreement between the two parties, the agreement will be finalized and signed by both parties.
- After getting the utilization right, the investor can proceed with completing the procedures and licenses which are necessary to start implementing the project per the utilization right conditions. Getting approvals and licenses whether from the authority or the concerned authorities to his project.
What are the approved fees for land utilization?
The fees are different according to the activity and the type of usage. For more clarification please check the prices on the Authority website, Investment department.
Who can I contact if I have more inquiries?
For more information please contact: 2450-7500 or send your inquiries via e-mail to email@example.com