Khazaen Economic City, established by Royal Decree 44/2023, stands as a pivotal partner for development and a promising new catalyst for economic growth in the Sultanate of Oman, as voiced by Eng. Salem bin Sulaiman al Dhuhli, the CEO. Extending a warm welcome to the Royal Decree, Al Dhuhli stated: “The issuance by His Majesty the Sultan – May God preserve and protect him – of the Royal Decree founding Khazaen Economic City and laying out its framework, affirms the sublime support and patronage for this grand endeavor, destined to profoundly influence its continuous prosperity. The City embodies an ambitious and promising Omani undertaking with global aspirations, seeking to complement the economy, fortify income sources, and propel the Omani economy towards broader horizons.”
In a statement to Oman News Agency, he expounded that Khazaen Economic City, situated in the Wilayat of Barka, within the Governorate of South Al Batinah, represents a qualitative and strategic project in the Sultanate of Oman, functioning as an integrated economic and free zone, forged in collaboration with the private sector. It encompasses logistical, industrial, commercial, and residential projects, along with strategic initiatives fostering seamless integration in services and commerce. Encompassing an impressive expanse of 52 million square meters, the City comprises numerous logistical and industrial ventures, notably the Khazaen Dry Port, a pioneering inland port in Oman, connecting Khazaen with various destinations and international markets. Equally significant is the Khazaen Central Market for vegetables and fruits, which will leverage its strategic location adjacent to the Al Batinah Expressway and connected to the border crossings.
Khazaen Economic City stands as a significant partnership between the public and private sectors, dedicated to financing, establishing, and managing economic zones in Oman. Al Dhuhli emphasized that the Royal Decree confers various powers and privileges, such as activating a streamlined one-stop shop managed by Khazaen Economic City, the authority to sell residential and commercial lands, the establishment of two free zones: one for light and medium industries and logistical activities, and the other for business and trade, alongside the granting of customs and tax exemptions. The decree further ratified the development and usufruct agreement for the city, granting Khazaen Economic City LLC the right to develop and oversee the city and the two free zones.
Despite the global economic challenges faced in recent times, Khazaen has successfully attracted over 100 investment projects, amounting to approximately RO 100 million in value during the past 30 months, he added.
