The Economic Stimulus Plan approved by His Majesty Sultan Haitham bin Tarik last week will help the country navigate through the challenges unleashed by the global economic slowdown and the coronavirus pandemic, said Hilal bin Hamad al Hasani, CEO of the Public Establishment for Industrial Estates (Madayn).

In a statement to ONA, he said the plan will help attract investment inflows into, among other areas, the four new industrial cities planned for development over Madayn’s 2021-2025 Vision — at Ibri, Thamrait, Shinas, Al Mudhaibi and Al Rawdah.

Those new industrial parks will come on the heels of the completion of the entire industry city at Samayil, as well as the 7th Phase expansion of Suhar Industrial City (covering an area of 8 million sq metres), the expansion of Raysut Industrial City, the implementation of the first and second phases of Al Mazunah Free Zone, as well as improvements to Al Buraimi, Sur and Nizwa industrial cities.

In addition, a comprehensive plan for the development of the technology park, Knowledge Oasis Muscat (KOM) is under completion. So is the Service Centre Project (Masar), which will be launched at all industrial cities before the end of this year. Masar centres were opened in Al Rusayl and Suhar Industrial Cities last year.

Al Hasani said the development of various support institutions of Madayn will help encourage investors and business owners to start new projects or expand existing ventures, thereby helping achieve the government’s goal of elevate Oman into the ranks of regional manufacturing and ICT hubs.

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