The Sultanate’s pavilion at the ongoing annual food and hospitality exhibition – Gulfood 2019 in Dubai is attracting an outstanding turnout of investors, producers, business owners and suppliers who are interested in getting acquainted with the Omani products and exploring the available investment opportunities in the Sultanate. The Sultanate’s participation is represented by the Public Establishment for Industrial Estates – Madayn, which is taking part in the exhibition held at Dubai World Trade Centre in the United Arab Emirates for the seventh consecutive year.
Investing in Al Mazunah
Said Al Balushi, acting director general of Al Mazunah Free Zone, stated that the exhibition offers a great opportunity to promote the investment opportunities offered by Madayn industrial cities including those available at Al Mazunah Free Zone. He emphasised that the free zone is strategically located on the border of the Sultanate and Yemen, which makes it the Gulf gateway for transit trade to Yemen and Eastern Africa. “The free zone is particularly significant as an economic attraction between the Omani ports and markets on the one hand, and the Yemeni and Eastern Africa markets on the other hand,” Al Balushi pointed out. He also noted that since Madayn has got a new expansion in the free zone of a total area of approximately 11 million sqm, Gulfood expo represents a great platform to highlight the incentives and advantages of investing in Al Mazunah Free Zone.
General incentives are offered to the investors in the free zone, which include customs’ exemptions, 100 per cent foreign ownership, no minimum capital requirements, and Omanisation rate stands at 10 per cent. Other incentives include easy access of individuals and investors to the free zone without entry visas being required for Yemenis, facilitation of employing Yemeni workforce without entry visa being required, and facilitation for senior Yemeni corporate officers and investors to obtain work visas; among other incentives of importance to the investors.
Al Balushi informed that the number of the operating projects in the free zone has touched 197 by the end of November 2018, and 46 new investment applications are currently under review and study. Madayn is currently working on a number of projects in Al Mazunah, which include phase one of developing the free zone (second package) in addition to phase two, transmitting electricity to the leased companies (cables and transformers), and the broadband project.
Representatives of the participating Omani companies and factories, which are taking part in the Sultanate’s pavilion, emphasised that such specialised food exhibitions like Gulfood play a great role in disseminating awareness on the Omani products among different countries worldwide. Such events bring a great benefit through being present alongside local, regional and international companies, which contribute in generating business ties between these companies.
“Our company is recognised as the first Omani company specialised in the production of natural honey with international standards,” said Mohammed Al Shanfari, Chairman of National Natural Honey Company. He added that the company’s first participation at Gulfood 2019 has allowed them to interact with distributers from various countries, which results in spreading the Omani products around the world. “Such platforms are important for the Omani companies wishing to expand and explore new markets,” Al Shanfari commented.
Malallah Al Hamadani, marketing director at Oman Foodstuff Factory (Al Mudhish), stated that Al Mudhish has received new orders for its products as part of its participation in this year’s Gulfood. “Preparation of new deals and renewal of existing contracts with our agents are underway. In fact, Gulfood has been generating extensive opportunities for our company through the interest shown by the visitors to the Sultanate’s pavilion. We have been receiving contracting requests, which we aim at sorting and studying once we are back in Oman and decide to move forward with those in line with our company’s current and future plans,” he informed.
On his part, Mohammed Jaboob, commercial manager at Omani Vegetable Oils and Derivatives, commented that the company is always keen to take part in Gulfood exhibition to achieve the greatest possible benefit from its presence in this global event through meeting with suppliers and specialists representing the vegetable oils and derivatives industries. “Following our annual participation in this event, we always conclude with a set of ideas and opportunities that are applicable and schedule them for implementation in the future,” Jaboob said.
Mohammed Al Balushi, sales and marketing assistant manager at Areej Vegetable Oils and Derivatives, stated that the company is focusing on promoting its new oil olive product, which the company has begun producing and distributing recently in the local market. “Taking into account the great demand shown by the local market towards the new product, we have decided to commence external promotion through Gulfood 2019 platform. Madayn’s pavilion offers the company with the opportunity to interact with new consumers from various countries worldwide,” Al Balushi pointed out.
Another participant, Salim Baabood stressed that participating in this kind of events contribute to raising a good reputation for the Omani products among a large segment of consumers at the local and global levels.
It is worth mentioning that a number of Omani companies representing the food industry are taking part in Gulfood this year under the umbrella of Madayn, which include Areej Vegetable Oils and Derivatives, Dhofar Poultry Company, Oman Foodstuff Factory, Omani Vegetable Oils and Derivatives, Sweets of Oman Company, Modern Dairy Factory, National Natural Honey Company, Salalah Mills Company, and Salalah Macaroni Company.
-Ends-© Press Release 2019
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.