The Outer

115 investment agreements raise investments in Khazaen Economic City in the Sultanate of Oman

By Manal Abdel Fattah

The total volume of investments in Khazaen Economic City in the Sultanate of Oman increased by the end of 2023, reaching 410 million Omani riyals, or about one billion US dollars, through the signing of 115 investment agreements.

Data issued by Khazaen Economic City showed that the volume of foreign investments reached 225 million Omani riyals at the end of last year, and the volume of local investments reached 185 million Omani riyals, and the number of nationalities of investors is 17 from different countries of the world.

Engineer Salem bin Sulaiman Al Dhahli, CEO of Khazaen Economic City, said that Khazaen Economic City contributes to the domestic product through several strategies, most notably economic diversification and the localization of priority industries in several main sectors, such as the logistical, food, industrial, and pharmaceutical sectors, the technology and business sector, and the clean energy sector, in addition to attracting… Quality local and foreign investments with added value and increasing local spending on goods and services. Quality investments in the city also contribute to creating commercial opportunities for small and medium enterprises and job opportunities for national cadres in various promising sectors.

He explained that attracting foreign and local investments is done through several strategies, the most important of which is the localization of industries and priority projects that facilitate the investor’s journey in the city, most notably the workers’ village project, which is one of the sustainability solutions in the city by achieving integration in the provision of social infrastructure services that achieve the concept of work, living and entertainment within. The city by providing subsistence, health, shopping and sports services, with an investment value amounting to 12 million Omani riyals. The construction work in the workers’ village is expected to be completed during the middle of the current year 2024 AD, as the completion rate of work there has reached 75 percent, in addition to the “Medicine City” project, which will contribute to achieving The Sultanate of Oman’s strategy for pharmaceutical security, establishing an integrated complex for medical industries and their supplies, and achieving integration between educational outcomes in the pharmaceutical sector and labor market requirements, noting that the pharmaceutical city will include laboratories, advanced medical research centers, factories for pharmaceuticals and their supplies, and centers for storing, distributing and importing medicines and medical equipment.

The CEO of Khazaen Economic City confirmed that Khazaen Economic City supports the food security strategy with its attractive investment opportunities in the food sector, so that the investment strategy of Khazaen Food City aims to cover the increasing demand for food in the local, Gulf and international markets.

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