20 March 2024
OPAZ Board of Directors holds its first meeting for the year 2024
The inaugural meeting of the Public Authority for Special Economic Zones and Free Zones for the year 2024 was presided over by the Chairman of the Board, His Excellency Dr. Ali bin Masoud Al-Sunaidi, in Muscat. The most significant performance indicators for the authority's industrial cities, free zones, and economic zones have been reviewed by the Board. By the end of 2023, the total amount invested, distributed among the 14 current regions, was around 19 billion Omani riyals.
There are currently 75,000 direct workers, and 34% of the workforce is Omani. Automation of eighty e-services resulted in direct revenues from these regions exceeding 61 million Omani riyals, a fifteen percent increase over the goal set for 2023. 38 million Omani riyals have been saved from the ongoing projects. The project to update the Authority's system regulations and the steps taken to complete the establishment of the previously announced zones were among the processes that the Board of Directors examined.
The Authority’s Board of Directors approved the exemption from the requirement to provide tender bond for projects, in accordance with the exemption controls approved by the Tender Board.
The Board also reviewed and made appropriate decisions on a number of other topics aimed at improving commitment and governance during the meeting. These included the initiative to expand the green space in the Special Economic Zone at Duqm, the internal audit committees, and the matrix of powers for the Public Establishment for Industrial Estates (Madayn).