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Oman 2018 | ECONOMY | COLUMN

TBY talks to Lee Chee Khian, CEO, Special Economic Zone Authority of Duqm (SEZAD), on the sector.

Lee Chee  Khian

What is SEZAD's strategy for 2017, and how will it impact the overall economy?

We want to keep the strategy simple to finish all the key infrastructure projects that will be instrumental in bringing investment. We are also seeking other investors involved in downstream petrochemical operations through a second refinery. There is also the manufacturing side with heavy industry and dry docks that will share the same supporting factor on the industry. We are currently focusing on manufacturing, and with all the development in heavy industry, we can then offer key services.

What incentives are currently offered to investors to come to Duqm?

The key benefit is 30 years of corporate tax exemption and the fact that imports to this zone are tax and duty free. We have a one-stop shop that provides services, and we do not have capitalization requirements, allowing investors to decide on their own capitalization. We have a free flow of foreign exchange, so investors and businesses are able to bring in the capital as required. When it comes to manpower and visas, we have a system set up to provide assistance.