Oman's ranking in the World Bank’s Global Logistics Performance Index went up from 59 to 43 between 2014 and 2018, said the organisers of the upcoming Oman Economic & Free Zone Summit in Muscat, Oman.
Organized by Free Zone Watch, co-hosted by Ithraa and supported by the Oman Chamber of Commerce & Industry, the summit is scheduled for October 21-22 at the Oman Convention & Exhibition Centre and will be held under the patronage of Dr Yahya Al Mandhari, Chairman, State Council.
The two-day international event will outline the strategic shifts in regional trade and in-country developments which make the sultanate an ideal logistics hub for international investors.
In 2018, Oman was the top location for FDI in the Gulf with $19.6 billion worth of investment. Nearly 60 percent of the 173 investment projects located in the Gulf financed by Arab entities were located in Oman.
Khazaen Economic City is a major project in Oman’s integrationist approach towards logistics – dovetailing public and private sector efforts to create a value-adding logistics corridors.
Located in Barka, around 60 kilometres north-west of Muscat, the project includes plans to create a new free zone, logistics and industrial complex and Oman’s first dry port. The in-land development will cover more than 50 sq km and is expected to be the largest public-private partnership in Omani history.
The Khazaen dry port will eventually provide a vital transshipment hub for cargo moving between Sohar Port and Muscat, with transport links provided by the Batinah Expressway and Muscat International Airport. Marafi, a subsidiary of Asyad, is responsible for the project which fits within Asyad’s broader mandate of supporting Oman’s ambitions of becoming a multi-modal logistics hub.
In July 2019, Asyad published its intention to explore the commercial potential of ten separate ports, including strategic sites that include Liwa, Surand the island of Masirah. The smaller ports will in time, complement the operations of Oman’s major ports by serving market demands through import and exports, adding the possibility of diversification through tourism activities, and providing integrated logistics solutions.
