Al Mazunah Free zone
Al Mazunah project offers a wide range of investment opportunities that start with launching the work in the project, develop with the progress of the work therein and increase with every accomplished utility and every run service.
These investment opportunities are divided into many sectors that reside in the following: Firstly, the commercial sector which includes storing and trading in goods, cars, spare parts, vegetables, fruits, livestock, meat and the different machines and equipment. Secondly, the different industries in addition to the light industrial sector including factories, foodstuff, vegetables, fruits, plastic materials, clothes, wooden industries and maintenance workshops for all kind of machines and equipment.
Thirdly, the assistant services sector, including the transport, distribution and clearing services, restaurants, handling services and commercial correspondences services, including the translation offices, printing, fax, internet and else. The population of Yemen is about 28 million, the total purchasing power reaches 55.400 billion dollars and the gross domestic product amounts to 26.909 billion dollars.
In 2006, the value of the Yemeni agricultural exports to the foreign markets reached 9 billion riyals. During the third quarter of the current year, Yemen exported 27 thousand and 186 tons of fish and seafood, at more than 64 million dollars, to 44 countries, where about 9 thousand and 810 tons, at 33 million dollars, were exported through land outlets. The preliminary statistics issued by the Ministry of Commerce & Industry showed that the volume of the goods exported during the year reached about trillion and 447 billion riyals. As to the volume of the commercial exchange between Yemen and the world countries in 2008 reached trillion and 718 billion riyals.
The Free Zone Project is located in Al Mazunah, Oman. 4 km from the Yemeni-Omani borderline and extends on a huge area reaching about 3 million square meters, with a cost amounting to 680 million Omani Riyals.
The project contains all the necessary facilities that constitute the free zone, including a commercial mall, hotel, car dealing stores, warehouses, administrative center, showrooms, external clinics, secondary service center, mosque, commercial stores, animal wealth, multi-purpose areas, green zones parking and others.
This is magnificently supported by a massive and modern infrastructure, including road nets, bridges, drainages, internet networks, phone lines and mobiles networks, in addition to all facilities and services required by the commercial operation according to the most modern and sophisticated techniques.
Besides the large areas of the project and its huge available possibilities, there are a lot of characteristics that polarize the capitals and attract the investors to invest in Al Mazunah Project, namely the closeness of the project to the Yemeni borders, allowing the easy use of the Yemeni manpower without the need to obtain visas or to carry out the complex routine matters, in addition to the decrease in the rate of hiring Omani manpower, from 30% to 10% only, which grants the investor more freedom in the choice of manpower, in compliance with the commercial, investment, industrial or touristic activity that he assumes.
Also, the unique and outstanding package of exemptions and facilities submitted by the State to support the investment, including the tax exemption for 30 years and allowing all the authorized goods to enter the State in general, encourages the investors.
To attract foreign investments, the Sultanate of Oman offers a package of exemptions and incentives specific to Al Mazunah as follows: Exempting the profits from the income tax for 30 years, without the need to submit the income returns. Providing, circulating and transferring the foreign currencies and entering of capitals with easiness.
Exemption from the Commercial Agency Law. Exemption from customs duties. Importing all goods allowed to be put into circulation in the Country. Exemption from the condition of the minimum investment and giving the freedom to use currencies. 100% ownership of the capital.
Allowing the Yemeni manpower to work without visas. Decreasing the rate of hiring Omani manpower to 10% instead of 30%. Approving the Yemeni customs statements concerning the goods imported from Yemen. Issuing the certificates of origin. Granting the factories of the free zone a national certificate of origin. Facilitating the process of granting residences and visas for non-Omani investors.
Allowing the establishment of a representative office inside the Omani customs zone. The location of the project, near to Yemen (4 Km from the Yemeni borders), constitutes a fundamental characteristic, in view of the population in Yemen (28 million persons) and the huge capitals therein, in addition to the easy movement between the two countries and from these countries to the other countries in the world, by land, sea and air.
Free Commercial zone participating in increasing the regional competition of Oman concerning attracting and developing the local and international investments.
We seek to have a contributing relationship for building and equipping a free commercial zone that constitutes a center for attracting and settling national and foreign investments. We seek to provide the best services and facilities for promoting and developing work, through an integral fundamental structure and adopting the best administrative practices in managing our operations, by providing a package of exemptions and facilities and building a base for the cooperation and coordination with all the official bodies and the authorities of the society of businessmen, on the local and worldwide levels.