SEZAD attracts over $14bn investments by end of 2019
The Special Economic Zone Authority at Duqm (SEZAD) has been able to attract total investments worth over US$14bn till the end of 2019 in the Special Economic Zone in Duqm (SEZD).
In the January 2020 issue of SEZAD’s quarterly magazine, H E Yahya bin Said al Jabri, chairman of SEZAD, said, “We are very thrilled with the increased number of investments in SEZD despite the challenges of the global business environment.”
He said, “The volume of investments in SEZD exceeded US$14bn by the end of last year. This brings a positive beginning for SEZD to start a new year, praying to the Almighty to make 2020 a better one for Oman, its people and leadership.” H E Jabri said, “We are starting the year 2020 with full optimism that the SEZD will record more success that would contribute to achieving its goals of being a hub for local and global investments. This optimism is reflected in a number of facts.”
Kicking off the year, SEZAD also started executing its fiveyear plan that extends until the end of 2024. This plan focuses on fulfilling various requirements to make Duqm a preferred destination for various economic activities in the region by 2030.
Speaking about the challenges, H E Jabri said slow economic growth in a number of sectors across the world as well as oil price fluctuation are the two main factors that could impact investments. “However, we have confidence in our ability to face and overcome these challenges,” he added.