Oman's Public Establishment for Industrial Estates (Madayn) played host to a Saudi delegation led by Investment Minister Engineer Khalid bin Abdulaziz Al Falih, which visited its headquarters in the Knowledge Oasis Muscat. 

 

Welcoming the members today (August 30), Dr Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, and Chairman of Madayn’s Board of Directors, emphasised on the robust bilateral ties between the two countries and the significance of economic integration and bilateral trade ties.

 

Masan invited Saudi investors and businessmen to set up units at Ibri Industrial City, which is strategically located on the road leading to the new border between the sultanate and the kingdom.

 

"Ibri Industrial City will offer significant opportunities for Saudi industries targeting the Omani market and vice versa, and shall feature a variety of industries, most notably the logistics industry," he noted.

 

The total area of Madayn’s existing industrial cities and those that are under development has now grown to around 140 million sq m with 2,200 projects operating in these industrial cities. Also the workforce has surged to more than 62,000. 

 

According to Masan, the total investment volume has hit RO6.8 billion ($17.6 billion) in the various industrial cities across the sultanate. "Of these, manufacturing sector garners the lion's share, constitute 83 per cent of the total investments," he added. 

 

As per an industrial survey in 2020 on the existing industries within these cities, the value of raw materials used in production has exceeded RO1 billion and the imported raw materials constitute more than 71 per cent. 

 

This shall act as an incentive for the Saudi cluster industries to expand in the sultanate’s industrial cities. it stated. 

 

Moreover, the value of products by factories and projects based in the industrial cities has exceeded RO3.7 billion during 2020, with exports from these amounting to more than 73 per cent.  

 

The high-profile Saudi delegation also got acquainted with Oman’s first tech park and Madayn’s technology arm – the Knowledge Oasis Muscat (KOM). 

 

KOM is home to over 190 local, regional and global companies, institutions and organisations ranging from flourishing home-grown SMEs and leading higher education providers to thriving businesses capitalising on its well-established reputation as a centre of excellence and opportunity.   

 

On her part, Ibtisam bint Ahmed Al Farooji, Director General of Investor Services at Madayn, elaborated on Madayn Vision 2040 and the incentives offered to investors, and available investment opportunities. 

 

"Madayn’s vision revolves around building world class business cities based on partnership while maintaining the Omani identity. Madayn aims to achieve an enhanced government role for comprehensive and sustainable economic and social development," she added. 

 

The visiting delegation was later briefed on the infrastructure development project of Marmul Industrial City, which is located in the Wilayat of Shalim that is 372 km away from Duqm, 341 km away from Salalah and 819 km away from Muscat. 

 

Marmul Industrial City embodies the result of cooperation between Madayn and Petroleum Development Oman (PDO), and shall offer an ideal investment environment for oil and gas, and mining industries. 

 

The delegation led by Al Falih later visited the Areej Vegetable Oils and Derivatives, Oman Fiber Optic, and Oman Cables Industry units which are based at Al Rusayl Industrial City.-TradeArabia News Service