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Indian team eyes key investment opportunities in Oman

MUSCAT, December 11, 2019

A high profile Indian delegation led by Saurabhbhai Patel, Energy Minister of Gujarat, India, recently visited the headquarters of Oman’s Public Establishment for Industrial Estates (Madayn) at the Knowledge Oasis Muscat, to discuss investment opportunities.

The delegation was received by Hilal bin Hamad Al Hasani, chief executive officer of Madayn.

Madayn officials briefed the delegates on the investment opportunities available in its various industrial cities, the strategic location enjoyed by the sultanate, and the advantages and incentives offered to the local and foreign investors, said a statement from the organisation.

Al Hasani elaborated on the vision of Madayn in enhancing the sultanate’s position as a leading regional centre of manufacturing, ICT, innovation and entrepreneurship excellence, and its mission in attracting industrial investments and providing continued support, through regionally and globally competitive strategies, good infrastructure, value adding services, and easy governmental processes.

Khalid Al Salhi, director of marketing and promotion at Madayn, delivered a presentation on the available investment opportunities in manufacturing, light and medium industries in its industrial cities.

Al Salhi pointed out that the development project of Samail Industrial City is close to completion on an area exceeding 7.5 million sq m, and Phase Seven of Suhar Industrial City covers an area exceeding 21 million sq m.

The incentives and facilities offered by Madayn to the investors were also underlined at the delegation meeting.

These include lease period of lands and facilities for up to 30 years, renewable for the same period (83.5 baisa/per meter per month); right to waive the lease right for the remaining period of the contract; right to sell constructions and buildings on the leased land; right to involve new partners in the lease contract; fair evaluation of buildings and facilities upon the termination of the lease contract; developed and equipped lands with basic services (water, electricity, telecom, roads); and transparent legal frameworks illustrating rights and obligations; punctuality in service delivery; in addition to other incentives.

The Indian team later toured the National Business Centre (NBC), which is an incubator established by Madayn to offer the small and medium enterprises (SMEs) an ideal platform to develop their business ideas into growing ventures.

The delegation, which comprised businessmen of different industries, then visited Al Rusayl Industrial City where Oman Cables Industry played the perfect host to the visiting Indians.

Oman Cables Industry is a leading player in the region renowned for developing, manufacturing and marketing a totally integrated variety of electrical products, which include medium voltage power cables, low voltage power and control cables, instrumentation cables, pilot cables, overhead power transmission line conductors and building wires.

The team was taken on a tour of the company where they were introduced to Oman Cables' history and track record.

Madayn was established in 1993 to ensure continued success and development of the industrial sector in Oman. Today, it manages and operates seven industrial cities in Suhar, Raysut, Nizwa, Sur, Al Buraimi, Al Rusayl, Samail, in addition to the Knowledge Oasis Muscat and Al Mazunah Free Zone.-TradeArabia News Service




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