Saudi Arabia, Oman Form Committee to Develop Dhahirah Economic Zone

2023-04-13 08:00:11

(MENAFN) Saudi Arabia and Oman have taken a significant step towards enhancing their economic cooperation by forming a committee to oversee the development of the integrated economic zone in Dhahirah. The primary objective of this committee is to create a comprehensive plan for the development, execution, and management of the economic zone in Oman while also monitoring the implementation of all programs and initiatives.

Moreover, the committee will work towards exchanging successful experiences and practices in the management and operation of economic zones between the two countries. This will enable them to leverage each other's strengths and capitalize on opportunities for growth and development. Additionally, the committee will coordinate with relevant stakeholders to hold informative workshops for traders and investors about the zone in both countries, providing them with valuable insights and opportunities for collaboration.

The decision to form the committee was led by Oman's Public Authority for Special Economic Zones and Free Zones, also known as OPAZ, and chaired by Ahmed Al-Deeb, deputy chairman of OPAZ. Other officials from OPAZ are part of the committee, as well as members from Saudi Arabia's Ministry of Investment, Economic Cities, and Special Economic Zone Authority and the Saudi Development Fund. This demonstrates the commitment of both countries towards realizing the full potential of the integrated economic zone in Dhahirah.

One of the most notable tasks under the committee's umbrella is to supervise the implementation of a memorandum of understanding signed between OPAZ and the Saudi Economic Cities and Special Economic Zone Authority. This underscores the importance of collaboration and coordination in achieving shared goals and objectives. The formation of this committee marks a crucial milestone in the economic relations between Saudi Arabia and Oman and sets the stage for greater collaboration and growth in the future.

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