Breaking News :

“Oman and Zanzibar Strengthen Bilateral Ties: Focus on Economic, Cultural, and Health Cooperation”

COMEX Global Technology Show 2024 Kicks off

HM The Sultan Arrives in Kuwait

Kuwaiti diplomat: Omani Sultan’s Kuwait visit indicative of strong ties

UAE President holds dinner banquet at Qasr Al Watan in honour of Sultan Haitham bin Tariq

UAE President receives Sultan of Oman upon arrival in UAE on state visit

Oman and UAE: Fraternal Bonds, Strategic Relations and Economic Partnership

OIA Announces Social Investment Policy, Launches “Qimam” Platform

POPS Supervisory Committee Holds First Meeting in 2024

Bank Muscat’s Sayyarati Auto Finance Option Comes with the Best Financing Facilities for Customers

“Ooredoo Oman Welcomes Khawla Al-Amiri as Chief People Officer, Reinforcing Commitment to Local Leadership Empowerment”

Bank Muscat Launches EAGLEs Programme: A Pioneering Leadership Engagement Across Branch Network

“Forging Tomorrow: A Global Imperative for Advanced AI Infrastructure”

“High-Paying Careers in Artificial Intelligence: Securing Your Future in the Evolving Job Market”

HM The Sultan Issues Two Royal Decrees

Unlocking New Horizons for Entrepreneurs: The Fourth Industrial Revolution

Royal Army of Oman Celebrates Passing Out of Officer Cadets, University Officers

HM The Sultan Offers Condolences on the Death of Kuwaiti Emir

HM The Sultan Gives Audience to Business People in India

HH Sayyid Theyazin Conveys HM The Sultan’s Greetings to Russian President

First Muscat Dialogue Sessions Begin

Oman and Switzerland Strengthen Bilateral Cooperation with Multiple Memoranda of Understanding

Empowering Coastal Women in Oman: “Mina” Project Unveiled

Information Minister Affirms Keenness to Strengthen Communication with International Media Institutions

“Oman’s Education and Innovation Drive: Sultan Haitham’s Vision”

UAE Space Agency launches National Space Academy to develop national cadres

HM The Sultan Presides over 8th Term Convening of Council of Oman

Selecting Topics Phase Launched of “Together we Make Progress” Forum

HM The Sultan Issues 2 Royal Decrees

Interior Minister visits Operations Chamber of Shura Council Elections

Omanis Cast Ballots for Shura Council’s 10th Term Membership

“Navigating Talent Challenges in Oman’s Telecom Sector”

“Bank Merger in Oman: A Human Resources Transformation Story”

Omantel’s 5G Excellence Recognized with “Samena Communications Award”

NHS scientist awarded £58,000 after being named ‘Paininarse’ on spreadsheet

‘Kill list’ | Mystery doc shows list of LinkedIn staff facing redundancy, days before HR announcement

HM The Sultan Receives Ambassadors’ Credentials

“Empowering Omani Women: A Message of Hope and Progress”

Mohammed bin Rashid opens GITEX GLOBAL

HH Sayyid Bilarab Chairs Meeting of Omani Startups’ Supervisory Committee

“Dhi Yazan bin Haitham Al Said Inaugurates Duqm Economic Forum “

Omani Woman: Clear Vision & Remarkable Achievements

“Strategies for Cultivating a Healthy and Productive Work Environment”

“Essential Reading for HR Professionals: 17 HR Books You Can’t Miss in 2023”

“Future-Proofing Your Career: Essential Skills for Tomorrow’s Job Market”

MAWARED annual book

Transformational Leadership: Inspiring Change and Achieving Excellence

“al sulaam Program (Episode four) with Dr. Aamal al bussaidi .”

“al sullam Program (Episode Two) with Dr. Ahmed Al-Ghusani.”

Nama Group and Omani Society for Human Resource Management (OSHRM) announce strategic partnership in Human Resources development

Bank Muscat Participates in the 8th Alumni Day in Sultan Qaboos University

Oman, Cambodia hold talks on endowments, religious affairs

Saudi Oil Giant Aramco Announces $121 Billion Profit in 2023

Tender Board Signs Agreements with Karwa Motors on Government Procurement, School Bus Purchase

Najahi Business Banking from Bank Muscat: Empowering Small Businesses

His Majesty Exchanges Ramadan Greetings With Arab, Islamic Leaders

A’Rustaq Hospital Diagnoses Child with Gastric Wall Vein Bleeding

QCB Launches ‘FAWRAN’ Instant Payment Service

National Development Fund Partners with World Economic Forum

Qatar Chairs 49th Meeting of GCC Standing Committee for Combating Harmful Practices in International Trade

November 7, 2024

Opaz presents paper on Blue Economy at 5th Duqm Forum

Muscat:

 The Public Authority for Special Economic Zones and Free Zones (OPAZ) presented a key paper during the third session of the 5th Duqm Forum, held this morning (October 20, 2024) at the Oman Convention and Exhibition Centre. This participation comes as part of the Authority’s efforts to promote investments in the blue economy, which is a fundamental pillar of sustainable economic growth in the Sultanate of Oman.

The paper, presented by Saleh bin Hamoud Al-Hsani, Advisor to the Chairman and the official spokesperson of the OPAZ, provided a comprehensive overview of the investment policies and plans set by OPAZ to develop the blue economy and strengthen its role in supporting the national economy.

The paper highlighted several investment projects localized in the Special Economic Zone at Duqm SEZAD, such as the Al Wusta Fisheries project and Simak, a private company specializing in canning, which is considered one of the largest fish canning projects in the Middle East. It also covered the fish farming project, while shedding light on encouraging sustainable investments in blue economy-related projects such as marine aquaculture, renewable energy, and water resource management. OPAZ emphasized the provision of incentives to attract more investments in these areas, enhancing the sustainability of natural resources and creating new growth opportunities.

The paper also addressed stimulating innovation by establishing research and development centers to support marine technology, develop sustainable fishing techniques, and improve quality control systems, contributing to increased efficiency and sustainability in utilizing marine resources.

Among the topics covered was improving marine and logistical infrastructure, with OPAZ working on upgrading ports and logistical facilities to support transportation and trade activities related to the blue economy. This upgrade is a critical step in attracting investments and enhancing operational efficiency in this vital sector.

The paper also reviewed OPAZ’s efforts in developing environmental policies by setting stringent environmental standards aimed at preserving marine biodiversity and reducing pollution, ensuring that economic activities remain sustainable while protecting the marine environment.

It further outlined the training and awareness initiatives adopted by the OPAZ, where training programs are organized for local communities to raise awareness about the importance of the blue economy and train them in sustainable fishing methods. These efforts contribute to enhancing awareness and building local capacities in this sector.
The paper also explored OPAZ’s role in improving legal policies governing marine activities, stressing the importance of updating legal frameworks to ensure the sustainability of economic activities related to the blue economy, contributing to long-term sustainable development.

In conclusion, the paper reviewed the most notable achievements in the development of special economic zones and free zones, which have become major investment attraction hubs thanks to tax incentives and a flexible legal environment. These zones have also contributed to economic diversification and the development of new sectors, such as renewable energy, green hydrogen, technology, and innovation.

Read Previous

Oman Oil Price Declines 60 Cents

Read Next

Bank Muscat Organises Special Event for Female Customers and Employees

Most Popular