Oman to develop free-zone projects worth $2.5bn
Oman is to launch a series of projects with a total investment value of $2.5 billion in its free zones during the first quarter of 2026.
The projects include a polysilicon plant, a renewable energy manufacturing unit, a chemical factory, a sugar refinery and electric vehicle manufacturing.
“These projects will boost industrial exports and diversify our economy away from hydrocarbon income. It will also create hundreds of jobs for Omanis in the towns close to the free zones,” Ahmed Al Dheeb, deputy chairman of the public authority for special economic zones and free zones (Opaz), told Oman Television.
Oman has six free zones across the country. The largest are in Sohar, Duqm and Salalah.
“All these developments will move up Oman as a major industrial exporter of non-hydrocarbon products in the gulf and increase its foreign trade,” Hamed Al Saidi, a member of the state-run Oman Business Forum, told AGBI.
In the first nine months of this year, Oman’s foreign trade fell 2 percent year on year to $79 billion, pulled down by a 16.5 percent drop in oil and gas exports.
Non-oil revenue fared better, rising 10.3 percent to $13 billion in the same period, helped by an increase in chemical production, up 14.
Further reading:
- Work starts on Oman-UAE $2bn economic free zone
- Oman unveils $250m AI special economic zone
- Sohar Port to spend $220m on free-zone expansion
You May Also Like
Sport.Fun’s FUN Token Sale Smashes 100% Target In One Day
A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release
