Oman

Oman

Introduces regulations on Al Mazyounah free-trade zone

07 Apr 2010

Promoting Oman's free-trade zone Al Mazyouna on the border with Yemen, the Minister of Commerce and Industry signed a Memorandum of Understanding with Golden Hala Trading and Contracting to develop the zone's infrastructure and issued regulations governing the zone including the following: Goods can be imported into the zone without an import licence. The requirement for a minimum amount of investment capital under Oman's Commercial Companies Law will be waived. Companies will be exempt from duty for 30 years, from the granting of a licence to operate in the zone. Companies will be governed by Oman's Labour Law. Yemenis will be allowed to work in the zone without a visa or residence permit. Working in the zone will not, however, automatically give Yemenis freedom to enter the rest of Oman. The facility is adMinistered by the Public Establishment for Industrial Estates (PEIE) and is expected to attract small-scale ventures that will spur trade between Oman and Yemen.

Type:
  • Promotion and facilitation (Special economic zones)
Industry:
  • Not industry specific
Inward FDI:
Yes
Outward FDI:
No
Sources: