The Government of Oman has positioned Duqm as a safe, stable and business-friendly haven for industrial and economic investment, reflecting the Sultanate’s international reputation as an oasis of tranquility and a bearer of peace. Incentives – Port of Duqm provides a list of incentives to benefit the investors.
Since 2020 OPAZ (Oman Public Authority for Special Economic Zones and Free Zones) is the competent regulating authority overseeing all, including Duqm. They provide:
- The planning and strategic framework in line with the State’s development plans
- The regulation of the legal and legislative framework for management and operation
- The facilitation of land usufruct, the one-stop-shop services for licenses, certificates and approvals
- The operation of the Special Economic Zone in Duqm, in close cooperation with its major stakeholders and most important (international) investors.
The following investor incentives are part of the Special Economic Zone conditions:
- Tax exemption for up to 30 years
- Exemption on duties for equipment and raw material
- 100% foreign ownership
- No minimum capital requirement
- Usufruct (lease) agreement for up to 99 years
- 100% repatriation of capital and profit
Assuring the strengthening of the Oman workforce, the transfer of knowledge and capabilities is considered one of the key elements of in-country value with a broad incentive programme supporting the inclusion and attraction of Omani resources.
The investor incentives offered as part of the Special Economic Zone conditions create an appealing and conducive environment for foreign investors. The combination of tax exemptions for up to 30 years, exemptions on duties for equipment and raw materials, and the ability to retain 100% foreign ownership provides significant advantages for businesses. Furthermore, the absence of a minimum capital requirement encourages investment across various scales. The long-term usufruct agreement for up to 99 years offers stability and security, while the option for 100% repatriation of capital and profit ensures flexibility and profitability. These incentives collectively position the Special Economic Zone as an attractive destination for investors seeking a favorable business environment and maximizing their returns.