Madayn begins development of five new industrial cities

by | Feb 10, 2022 | 0 comments

MUSCAT – The Sultanate’s Industry Day this year coincides with the start of development of five new industrial cities in Khasab, Ibri, Thumrait, Shinas and Al Mudhaibi, informs Hilal bin Hamad Al Hasani, CEO of the Public Establishment for Industrial Estates – Madayn. “These industrial cities will be added to the nine that are operating across the Sultanate, which will play a pivotal role in enhancing comprehensive and sustainable economic and social development under the wise leadership of His Majesty Sultan Haitham bin Tarik,” Al Hasani said, adding: “The new industrial cities represent the result of Madayn’s policies and its 2040 Vision programmes that are in line with Oman Vision 2040. Our goal is to reach 40 industrial cities.”

With only one industrial city in Oman back in 1991 when the late His Majesty Sultan Qaboos bin Said paid a historic visit to Al Rusayl Industrial City, the industrial sector is now thriving with an expanding network of industrial cities across the country. “With nearly 2,300 localised projects, the total investment volume in Madayn’s industrial cities today is approaching RO 7 billion. The Omanisation rate in these projects exceeds 38 percent of the total workforce in the industrial cities, which accounts for up to 8 percent of the total private sector workforce at the national level and exceeds 63percent of the total workforce in the industrial sector of Oman,” Al Hasani pointed out.

Madayn has recently launched investment complexes project which offers an opportunity for local and foreign companies to invest in the industrial sector and associated complementary sectors. Madayn has also introduced recently its Industrial Innovation Academy to promote a diversified and sustainable economy based on technology, knowledge and innovation. Moreover, Madayn has announced the establishment of new industrial cities as part of the current five-year plan in Musandam, Al Dhahirah, Al Sharqiyah North, Al Batinah North and Dhofar governorates, which will be equipped with advanced infrastructure. Madayn hasalso begun to look for local and foreign investors to develop other industrial cities in partnership with the private sector.

In addition to these efforts, Madayn has opened Masar Service Centres in two industrial cities, with soft openings in four more industrial cities, to play a key role in accelerating and simplifying investment procedures for investors and achieving a safe and ideal investment and business environment. Madayn has also recently announced a package of incentives and exemptions from fees to support the investment climate in its various industrial cities.

Al Hasani emphasised that, despite the global economic fluctuations and COVID-19 impact, Madayn was able to receive 325 investment applications in 2021, of which 193 got localised in the various industrial cities. Madayn’s total investment volume increased by 1.6 percent, the total number of projects grew by 3.4 percent, and the percentage of leased space increased to 2.05 percent.

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