LOC23:16
20:16 GMT
MUSCAT, Aug 3 (KUNA) -- Salalah Free Zone (SFZ) in Oman is boasting an environment lucrative for foreign investors who can have a 100-percent ownership coupled with exemption of custom duties as well as a 30-year tax exemption.
Ali Tabouk, SFZ Chief Commercial Officer, said in a statement Saturday there was no minimum share capital requirement in SFZ, while providing one-stop-shop services.
He said SFZ was designed to boost the national economy and create opportunities for businesspeople and private sector.
SFZ, said Tabouk, signed USD 7.7 billion worth of 69 agreements to establish projects in the zone.
Tabouk, elaborating on the projects, said the USD 2.5 billion Salalah refinery would create over 600 direct jobs and projected to produce over 150,000 barrels per day.
He also spoke about a USD 826 million liquified natural gas (LNG) which was expected to be operational by 2020.
Another USD 750 million Ammonia project is under construction, said Tabouk. (end)
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