Said bin Abdullah al Balushi, Director General of Al Mazunah Free Zone, explained that the incentives offered to the investors in the free zone comprise customs’ exemptions, 100 per cent foreign ownership, no minimum capital requirements, and simplification of procedures for non-GCC investors to obtain residence visa in Oman.
Al Balushi added that Al Mazunah Free Zone is currently working on the infrastructure development project (second package) and phase two, in which the completion rate has touched 88 per cent. Work is also underway in the design of the Facility Building, which is valued at more than RO 3 million and is expected to be completed by mid-2022.
Additionally, work is in progress with the expansion design project of phase 4 for a total area of three million sqm.
Source Link: www.omanobserver.om