ZONE ON THE RISE
TBY talks to HE Yahya Said Abdullah Al Jabri, Chairman of the Special Economic Zone Authority at Duqm (SEZAD), on the rise of the Duqm area, and the opportunities on offer for investors and businesses.
BIOGRAPHY
HE Yahya Said Abdullah Al Jabri has vast experience in global corporate and investment banking with academic qualifications from prestigious US schools including the Kellogg School of Management, Harvard Business School, and Darden Business School. He holds senior positions in Oman’s leading business & financial sectors, such as being a member of the Board of Directors at the Central Bank of Oman, a Board Member of the Civil Service Pension Fund, a Board Member of the Oman Investment Fund, Chairman of Pak Oman Investment Company, and Chairman of the Capital Market Authority. He is also currently a member of the Hawkamah Institute for Corporate Governance. On October 30, 2011 he was appointed as the Chairman of the Special Economic Zone Authority at Duqm (SEZAD).Can you elaborate on the importance of the Special Economic Zone Authority at Duqm (SEZAD) for the development of the Sultanate of Oman?
The objective of the strategy is to spread economic development around the country by investing in non-petroleum industries to diversify commerce formations, whilst also utilizing the Sultanate's vast natural resources and protecting its many distinctive forms of heritage.
What kind of investment are you willing to attract to develop SEZAD even further?
SEZAD is a model of integrated economic development composed of eight zones with a land area of more than, 1,777 square kilometers. Other than the world-class port and dry dock facilities, Duqm will have free trade zones, an industrial area, a refinery, a petrochemical plant, an airport, and residential and commercial facilities. We have designated an area of 23 square kilometers for the new town, which will be the backbone of the development area, and we have made provisions to extend it to accommodate up to 67,000 residential inhabitants by 2020. Therefore, we are attracting investment and trade, and many are considering Duqm.
What initiatives are you taking to promote and enhance foreign investment in the area?
Duqm has positioned itself on the world map, and we have conducted a few roadshows outside of Oman, and Ithraa will play an important role. SEZAD welcomes international investors and we have established several business leads. There is interest in the petrochemical and mineral processing sectors, but these will materialize subsequent to the establishment of the oil refinery and the supply of natural gas to the zone. There is also interest in tourism, staff housing, and warehousing projects. Another area of interest to SEZAD and some investors is renewable energy, such as wind and solar.
How will the development of the infrastructure determine the success of SEZAD?
This is an important factor. Connectivity with the entire world is important, and that is why the multi-model transportation design to connect Duqm via its port, airport, rail, and road network will insure that goods reach their destinations in less time, assisting both businesses and investors.
How much are you investing in technology?
Our technology component focuses on the existing project in the port as well as the dry dock; however, we are expecting to see a greater use of technology in the near future.
What new job opportunities is SEZAD generating for the local community?
The project is creating well-paid job opportunities for Omani youth, especially university graduates. The Omanization strategy at SEZAD focuses on raising the skills and capabilities of the country's human resources so as to enable those occupying leading positions at the Authority. We also urge the companies operating in the Duqm Special Economic Zone to employ Omanis and train them. In the long run, we expect that the projects carried out in the zone will contribute to assimilating more of the national workforce, especially with the increasing number of companies operating in the zone. The zone also allows young entrepreneurs to establish their own projects. Duqm has created permanent jobs as well as temporary jobs through its establishment and operations.
What is your deadline for the completion of the area?
The establishment of the SEZAD comes as part of the fulfillment of the Oman Vision 2020. Among the Vision's national objectives are to diversify the national economy beyond the oil sector and create a new engine of economic growth, to bring the development of the Al Wusta Governorate in line with the rest of the country, and increase the contribution of the private sector and its share of national GDP.
ZONE ON THE RISE
TABLE OF CONTENTS
Interview
HE Yusuf Bin Alawi Bin Abdullah, Minister Responsible for Foreign Affairs, Sultanate of Oman
TBY talks to HE Yusuf Bin Alawi Bin Abdullah, Minister Responsible for Foreign Affairs of the Sultanate of Oman, on the skillful use of diplomacy to promote peace and security throughout the region and beyond.
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His Royal Highness Prince Mohamed Bolkiah, Minister of Foreign Affairs and Trade, Brunei Darussalam
TBY talks to His Royal Highness Prince Mohamed Bolkiah, Minister of Foreign Affairs and Trade of Brunei Darussalam, on the close ties his nation has with the Sultanate of Oman, and the potential for joint investments.
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HE Seán Sherlock, Minister of State Development, Trade Promotion, & North-South Co-operation, Republic of Ireland
TBY talks to HE Seán Sherlock, Minister of State Development, Trade Promotion, & North-South Co-operation of Ireland, on bilateral agreements, investment opportunities, and relations between the two states.
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HE Dr. Mohammad Bin Al Zubair, Advisor to His Majesty Sultan Qaboos bin Said for Economic Planning Affairs, Sultanate of Oman
TBY talks to HE Dr. Mohammad Bin Al Zubair, Advisor to His Majesty Sultan Qaboos bin Said for Economic Planning Affairs, on economic diversification, Omanization, and SMEs.
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Hilal bin Hamad Al Hasani, CEO, Public Establishment for Industrial Estates (PEIE)
TBY talks to Hilal bin Hamad Al Hasani, CEO of the Public Establishment for Industrial Estates (PEIE), on attracting investment, supporting local development, and establishing new opportunities.
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HE Said bin Hamdoon bin Saif Al Harthy, Undersecretary, Ports and Maritime Affairs
TBY talks to HE Said bin Hamdoon bin Saif Al Harthy, Undersecretary of Ports and Maritime Affairs, on the important role that the Sultanate's maritime industry is playing in promoting trade and economic activity.
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HE Yahya Said Abdullah Al Jabri, Chairman, Special Economic Zone Authority at Duqm (SEZAD)
TBY talks to HE Yahya Said Abdullah Al Jabri, Chairman of the Special Economic Zone Authority at Duqm (SEZAD), on the rise of the Duqm area, and the opportunities on offer for investors and businesses.
read articleInterview
HE Didier Reynders, Deputy Prime Minister and Minister, Foreign Affairs, Foreign Trade, European Affairs
TBY talks to HE Didier Reynders, Deputy Prime Minister and Minister of Foreign Affairs, Foreign Trade, and European Affairs of Belgium, on bilateral relations and maritime cooperation between the two states.
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Dr. Fuad Jaffer Al Sajwani, Minister of Agriculture and Fisheries Wealth, Sultanate of Oman
TBY talks to Dr. Fuad Jaffer Al Sajwani, Minister of Agriculture and Fisheries Wealth, on the sector's role in diversification, encouraging international investment, and ensuring stable prices.
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HE Hamed Said Al-Oufi, Undersecretary of Fisheries Wealth, Ministry of Agriculture & Fisheries Wealth
TBY talks to HE Hamed Said Al-Oufi, Undersecretary of Fisheries Wealth at the Ministry of Agriculture & Fisheries Wealth, on the role fisheries wealth can play in diversification and boosting the sector through technology.
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HE Dr. Rashid Bin Salim Al-Masroori, Executive President, Public Authority for Stores and Food Reserve
TBY talks to HE Dr. Rashid Bin Salim Al-Masroori, Executive President of the Public Authority for Stores and Food Reserve (PASFR), on the drive to ensure food security and boost local production in key sectors.
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