Muscat – March 3, 2021: Khazaen Economic City hosted this afternoon a ministerial delegation along with key government officials toured the City to review its progress, infrastructural works, and study the scope it holds for varied domestic and foreign investments.
Khazaen Economic City received His Excellency Qais bin Mohammed Al Youssef, Minister of Commerce, Industry and Investment Promotion, His Excellency Dr. Saud bin Ahmed Al Habsi, Minister of Agriculture, Fisheries and Water Resources, and His Excellency Dr. Khalfan bin Said Al Shuaili, Minister of Housing and Urban Planning. Their Excellencies saw the readiness of the City’s infrastructure and learned more about the key strategic projects that Khazaen will host, such as the dry port and the Khazaen’s Food City including the Central Fruits and Vegetables market, in addition to the investment opportunities it will offer in the manufacturing, logistical and residential sectors.
As Their Excellencies toured the City to learn about Phase I of infrastructural works which was completed before its deadline of 2020 year-end, they were briefed on the various components of the City. This was followed by a comprehensive presentation by Khazaen officials on the City’s main components, incentives and facilities provided to various categories of domestic and foreign investors. Khazaen’s executive management also shed light on the City’s plans and programs and highlighted the importance of this ambitious national project and its contribution towards supporting the government’s goals and efforts in diversifying revenue sources for Oman’s economy.
Commenting on this visit, Khalid Al Balushi, CEO of Khazaen Economic City, said, “The visit of Their Excellencies the ministers to Khazaen is of great importance to us and pushes us forward to achieve greater milestones in developing this City as one of the main pillars that will support the national economy and contribute towards achieving goals of Oman Vision 2040.”
The CEO added: “During this visit, Their Excellencies were briefed on the most important achievements of the City and the development it has witnessed, especially since the completion of Phase I and the relocation of several investors as well as businesses to Khazaen. Khazaen’s executive management also shed light on the main government projects that are envisaged to be implemented during the next phase according to plans approved by the government.”
It is worth noting that Khazaen offers a host of advantages like a strategic location that gives direct and easy access to roads, sea and airports across Oman, state-of-the-art infrastructure and ease of procedures, in addition to a package of incentives and facilities that are attracting investments across sectors.
Khazaen Economic City has successfully signed agreements with several local and regional companies to establish specialized units and plants, prominent among which are the Wakud facility to recycle used cooking oils into biofuels, and agreement with National Gulf Paper Products Company to set up Oman’s first carton plate manufacturing unit. Khazaen is currently studying several applications submitted by local and international investors, which are expected to be announced soon. Khazaen Economic City is envisaged to play an enabling role in government initiatives to house industrial and warehousing complexes whose relocation from the heart of Muscat City is being planned. This move will free up these areas for projects with sustainable commercial worth and economic value. Khazaen has allocated a dedicated area for industrial workshops and contractors, in addition to having centralized zones dedicated for workers housing, a facility which will solve the problem of scattered workers accommodations in residential neighborhoods across all governorates. The relocation of these activities from Muscat governorate will also reduce the growing traffic congestion within the Capital and cut the movement of heavy vehicles and trucks on the city’s main roads, thus bringing down cost of future road expansion and maintenance works.