Recent disruptions to global supply chains and recognition from policymakers about the urgent need to diversify the economy are combining to stimulate industrial development in Oman, with the country’s network of special economic and free zones having a key role to play in attracting investment and boosting external trade. Fiscal incentives, advanced infrastructure, and strong connectivity with global and regional markets are attracting companies focused on value-added manufacturing and downstream processing to zones affiliated with the Public Authority for Special Economic Zones and Free Zones (OPAZ). Investors can capitalise on the country’s strategic position along east and west trade corridors, as well as moves towards greater regionalisation of production following the recent disruptions to international trade caused by the Covid-19 pandemic and geopolitical disputes.
Oman’s efforts to become a net-zero economy by 2050 are creating high-value opportunities in renewable energy and green hydrogen. OPAZ-affiliated zones have an integral role to play in achieving Oman’s ambitions to become a global leader in green hydrogen over the coming decades. These opportunities and more are explored in this Focus Report on Oman’s Special Economic Zones and Free Zones.