Provides navigation away from Hormuz .. Large investment opportunities in the port of Duqm Oman

Imad Murad-Doha

Duqm Port, which is part of Oman's Duqm Special Economic Zone project, which includes industrial, logistics and residential areas, is supported by an infrastructure and an international airport.

Located on the southeast coast of Oman, overlooking the Arabian Sea and the Indian Ocean, Duqm is qualified to become one of the largest ports in the Middle East in the long run, especially as it avoids maritime access to the Strait of Hormuz, which is currently strained in the Gulf region.

Omani officials are currently touring a number of countries in the region, in an attempt to obtain more industrial investments inside this port, and the State of Qatar was the beginning of this tour, as the economic relations between the two countries reached, especially since the start of the siege on the countries of Qatar in June 2017 Saudi Arabia, the UAE, Bahrain, Egypt, and the enormous development of trade relations between the two countries.

Qatar Chamber hosted a workshop on the investment opportunities in Duqm, the potential of its industrial zone, the current infrastructure and projects and the incentives offered by the Sultanate to investors, in the presence of a number of Qatari business owners and representatives of local companies.

Duqm Port Manager Aaron Mortelmans talked about the potential of the port, such as raw materials and manpower, suitable land prices, as well as logistics capabilities, adding that the workshop aims to encourage Qatari business owners and investors to invest in the port, which is the largest strategic projects in Sultanate of Oman.

Incentives and advantages
Mortmans enumerated the incentives and benefits offered by Duqm Port to investors, in terms of a 30-year tax exemption from the start of business activities, renewability for a similar period thereafter, plus 100% foreign ownership, as well as exemption from the minimum capital requirements set out in Business law and other laws, the absence of any restrictions on currencies, the freedom to import all kinds of goods.

The Director of the port - in a statement to the island Net - that the area of ​​Duqm is characterized by its geographical location on international shipping lines, linking East and West, and supervises the most important areas in Asia and Africa, stressing that the port provides safe means of navigation away from the Strait of Hormuz in light of the political situation Current.

Hisham Al Ibrahim, Director General of Commercial Support for Duqm Port, confirmed that the workshop comes within a series of meetings scheduled between the two sides, which seek to introduce Qatari businessmen to investment opportunities in the port of Duqm and the latest developments in the development of facilities within the port.

Al-Ibrahim expressed in a statement to Al-Jazeera Net - his hope that the workshop will achieve the desired goal of obtaining investments from the Qatari private sector, stressing that the relations between the two countries have jumped great leaps during the past period.

He adds that the commercial opportunities in the port of Duqm represent another window for cooperation between the two sides, especially with the presence of a Qatari project currently being implemented by the company "Karwa" in the port of Duqm, listing a number of the specialties of the port, which is located in the center of the Sultanate, and is characterized by its proximity to oil exploration areas Gas, along with the availability of many different mining materials in the area of ​​2,000 square kilometers.

For his part, Mohammed bin Ahmed bin Tawar, First Vice President of the Qatar Chamber, valued the distinguished relations between Qatar and Oman in all fields, pointing out that the port of Duqm is located in a special place and strategic location in the region, especially as it is located outside the Strait of Hormuz and the Central Indian Ocean, making it a destination Ideal for a number of nearby markets.

He pointed out that there are Qatari investments in the private sector in the port, and that there is a desire by Qatari business owners to identify the various investment opportunities in the Sultanate in general and the economic zone in Duqm in particular.