Madayn announces additional investment incentives for Al Buraimi Industrial City

Muscat - 

The Public Establishment for Industrial Estates (Madayn) said its board of directors has agreed to grant Al Buraimi Industrial City additional investment incentives and advantages in order to encourage investors and business owners to develop projects there.

In a press release, Eng Abdullah bin Ahmed al Mayasi, director general of Al Buraimi Industrial City, said, “This comes in continuation of the efforts undertaken by Madayn to create an ideal investment environment and attract local and foreign investors, and thus contributes to the advancement of the national economy and provide more job opportunities for Omanis.”

Mayasi said that these additional incentives and advantages include the reduction of the annual rent of industrial, commercial, service and residential activities in addition to the fees of practising these activities.

Mayasi said, “These incentives and advantages shall play a role in meeting the challenges facing investors and business owners at the current and future stages.”

“The incentives have been shaped following constant meetings held by Madayn’s management with the investors in Al Buraimi Industrial City and continuous coordination with Oman Chamber of Commerce and Industry, in addition to the outcomes of the meetings held by the quality improvement committee of Al Buraimi Industrial City.”

He said that they have already started implementing some projects valued at around RO5mn in the industrial city. The industrial city so far has achieved investments of around RO220mn through 461 different projects.

Some of the projects that will be taken up for attracting investors include, infrastructure development in an area of 300,000sq m, setting up a sewage network and a sewage plant, in addition to rehabilitation of current services such as roads, rainwater drainage and lighting. The whole project is expected to be completed by the end of December 2020, Madayn said.

Located in Buraimi governorate adjacent to the Oman-UAE border, the industrial city was inaugurated in 1998. It is strategically located amid major dynamic sites as it is nearly 100km away from Sohar Industrial Port, 300km away from Muscat International Airport and less than 120km away from Dubai International Airport and Jebel Ali Port.

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