The Public Establishment for Industrial Estates, Madayn, aims at enhancing Oman’s position as a leading regional centre of manufacturing, ICT, innovation and entrepreneurship excellence.
To achieve this, Madayn is making significant efforts to attract industrial investments and provide continued support through regionally and globally competitive strategies, good infrastructure, value adding services, and easy governmental processes, said Hilal bin Hamad Al Hasani, Chief Executive Officer of Madayn at a virtual seminar organised in cooperation with the Asian-Arab Chamber of Commerce in India.
More than 80 investors and businessmen took part in the seminar, entitled ‘Investment Incentives in Madayn’, which comes in line with the efforts made by Madayn to attract more foreign investments to Oman and strengthen partnerships with the private sector, particularly in the industrial sector.
Al Hasani drew attention to the strong bilateral trade relations between the sultanate and India. He said that the seminar presents an opportunity to introduce the incentives and facilities offered by Madayn to the participating investors and businessmen.
Dr Asif Iqbal, President, Asian-Arab Chamber of Commerce, stated that this online seminar offers an opportunity to strengthen relations with Oman by meeting and interacting with representatives from different countries.
“I can recall our visit to Oman last year through a business delegation that went to explore the business and investment opportunities in the Sultanate of Oman in general and Madayn in particular, and I should emphasise that Oman offers an ideal business and investment destination for businessmen and investors,” Iqbal pointed out.
Khalid Al Salhi, Director of Marketing and Promotion at Madayn, elaborated on the available investment opportunities in the industrial cities that fall under the umbrella of Madayn in various sectors.
Al Salhi explained that the incentives offered by Madayn to the investors include lease period of lands and facilities for up to 30 years, renewable for the same period, 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.
Al Salhi added that Oman Investment and Development Holding Company (Mubadrah) was established by Madayn to strengthen Public-Private Partnership (PPP) and to correspond to the local, regional, and global economic changes and developments.
Mubadrah aims at ensuring best services to the Omani industrialists and investors to meet their requirements and offer an ideal business environment in line with the best international best practices.
Salah Al Zakwani, Chief Investment Officer (CIO) at Shumookh Investment and Services Company, delivered a presentation to highlight the investment opportunities available at Madayn’s industrial cities in education, healthcare, oil and gas, utilities, food and beverages, travel and leisure, and industrial goods and services. Madayn established Shumookh Investment and Services to develop infrastructure projects and encourage investments in Madayn’s industrial cities.
The vision of Shumookh is to develop globally competitive industrial infrastructure in the industrial cities of Madayn and create the best environment for the growth of industries in Oman through the attraction of strategic partnerships to invest and implementation of diverse infrastructure development projects in the industrial cities pertaining to Madayn.-- Tradearabia News Service