The Executive Committee overseeing the development of the Integrated Economic Zone at Al Dhahirah Governorate (EZAD) yesterday held its second meeting in 2023 under the chairmanship of Eng. Ahmed Hassan Al Dheeb, Deputy Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) and Chairman of the committee.
During the meeting, the Committee discussed the status of the establishment of the Omani-Saudi Company, which will manage and operate EZAD.
It also addressed the development plan for EZAD infrastructure facilities, the In-Country Value, and how to identify investment opportunities for EZAD targeted sectors.
It also highlighted the most important developments in the EZAD project, the proposed incentives, benefits, and facilities.
The Committee also revised the plan for the management and operation of the EZAD land port and customs station, and discussed the request submitted by Al Dhahirah Company to set up a one-stop shop at the port.
The Committee also tackled the proposal for floating the tender for setting up a one-stop shop at the commercial centre for Omani companies or the joint Omani-Saudi business alliance.
The meeting was attended by some officials from the Ministry of Transport, Communications and Information Technology and the Ministry of Commerce, Industry and Investment Promotion.
It is worth mentioning that the Executive Committee overseeing the Development of the Integrated Economic Zone at Al Dhahirah Governorate was established by resolution No. (49/2023) issued by OPAZ in April 2023.
The Committee oversees the implementation of the terms and conditions of the Memorandum of Understanding signed between OPAZ in the Sultanate of Oman and the Economic Cities and Special Zones Authority (ECZA) in the Kingdom of Saudi Arabia with regards to economic development of the special economic and free zones.
The Executive Committee overseeing the development of the Integrated Economic Zone at Al Dhahirah Governorate (EZAD) is also working on a plan for the development and management of EZAD. This plan will include all programmes and initiatives and follow up their implementation and the establishment of the Omani-Saudi Company, which will manage and operate EZAD.
The committee includes a number of officials from OPAZ and from the Saudi side members from the Ministry of Investment, Economic Cities and Special Economic Zones Authority (ECZA) and the Saudi Development Fund.
On the other hand, the Committee works to promote knowledge sharing and case studies of successful economic zone management and operation between the two countries. Additionally, it arranges for EZAD introduction courses to be held for investors and company owners in both countries.
Source: Times of Oman