His Excellency Eng. Omar bin Hamdan Al Ismaili, Chief Executive Officer of Telecommunications Regulatory Authority (TRA), visited Al Mazunah Free Zone to explore the challenges related to telecom services facing the investors in the free zone. Al Ismaili was accompanied by a number of officials from TRA and representatives of telecom service providers in the Sultanate.
Received by Said bin Abdullah Al Balushi, Director General of Al Mazunah Free Zone, the delegation was briefed on the free zone and the current and future projects that are scheduled by Madayn in Al Mazunah. The delegation was also familiarised with the status of telecom services in the free zone that are provided by the service providers including Omantel, Ooredoo, and Oman Broadband. The delegation then toured Al Mazunah Free Zone and got acquainted with the existing and ongoing projects.
Madayn is currently implementing a number of key projects in Al Mazunah Free Zone, which include the construction of the Facility Building that commenced lately in the free zone. While the ground and first floors of the Facility Building have been completed, work is underway on the second floor. This project is valued at more than RO 3 million and it will comprise office space, exhibition space and commercial stores. The Facility Building is expected to be completed by mid-2022.
It should be noted that general incentives are offered to the investors in Al Mazunah Free Zone, including 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 work visa being required, in addition to other incentives.
© Press Release 2021