Duqm Special Economic Zone: A Hub of Green Investments and Economic Growth
Key Ideas
  • Total investment in Duqm SEZ reached OMR6 billion, showing 55% growth, driven by projects like Duqm Refinery and green industry initiatives.
  • Strategic partnerships in green industries such as Vulcan Green Steel and Green Hydrogen project highlight Duqm's leadership in sustainable development.
  • Efforts to attract global investments continue, with ongoing projects like the Duqm Refinery and multipurpose fishing port enhancing economic prospects.
  • Improvements in municipal services and public utilities aim to boost development in various sectors within the SEZ, supporting Oman's goal of carbon neutrality by 2050.
The Special Economic Zone at Duqm in Oman has seen a significant increase in total cumulative investment, reaching OMR6 billion by the end of June, indicating a 55% year-on-year growth. This surge aligns with the commencement of operations at the Duqm Refinery and various other economic projects within the zone. The CEO of Sezad, Eng. Ahmed bin Ali Akaak, highlighted the growing interest from both local and international companies, emphasizing the zone's attractiveness for investments. Notable strategic investments in green industries like Vulcan Green Steel, HYPORT Duqm, and Green Hydrogen project signify Duqm's position as a leader in sustainability initiatives. These projects aim to bolster Duqm's stature in green industries and contribute to Oman's target of achieving carbon neutrality by 2050. The CEO also mentioned ongoing efforts to enhance services for investors through collaborations with government entities, including the management of municipal services and public utilities within the Sezad's master plan. Additionally, the completion of key infrastructure projects like the Duqm Refinery and the multipurpose fishing port underlines the zone's potential to become a prominent energy hub in the region. The CEO expressed satisfaction with the progress of projects and operational milestones achieved in the first half of the year, such as the official inauguration of the Duqm Refinery and the multipurpose fishing port. The commencement of projects like the International Seafood Company and the Asyad Terminals Duqm further diversify the economic activities in the zone. The Sezad's dedication to facilitating investor procedures and ensuring a conducive environment for growth underscores its commitment to driving economic development and attracting global investments.
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