Sultanate to attend global free trade summit in Malaysia

Oman, represented by the Public Authority for Investment Promotion and Export Development (Paiped) and the Special Economic Zone Authority Duqm (SEZAD), is participating at the second Global Free Trade and Special Economic Zones Exhibition and Summit scheduled to be held in Kuala Lumpur, Malaysia between March 25 and 27. The country\'s participation will showcase Oman\'s competitive edge and promote the leading integrated economic development in Al Wusta Governorate to businesses and investors from over 50 countries worldwide, said a press release. Faris bin Nassir Al Farsi, director-general of Investment Promotion at Paiped and Saleh Hamood Al Hasni, Investor Services Specialist at Sezad will address the Global Free Trade and Special Economic Zones Conference providing potential investors with a comprehensive picture of the Sultanate\'s business investment climate. In addition, they will be on the Sultanate\'s pavilion to answer trade inquiries and provide additional business information on Oman. Together, Paiped and Sezad will also host a special networking lunch in Kuala Lumpur on March 26. Commenting on the Kuala Lumpur event, Al Farsi said: \"The Global Trade Show Exhibition and Summit is an ideal platform for us to showcase the potential returns on establishing a business in Oman. Moreover, Duqm is undergoing extensive development at the moment and the exhibition is a marvelous opportunity for us to present Duqm and the clear benefits it offers the international business community.\" Attracting up to $8b Saleh Hamood Al Hasni said: \"The Special Economic Zone at Duqm is a catalyst for industrial development in Oman with a target of attracting up to $8 billion of direct investment over the next five years.\" \"The Global Free Trade and Special Economic Zones Exhibition and Summit joins upstream industries with downstream businesses and links government agencies, private sector projects and potential investors. Our presence will undoubtedly help emphasise the importance of Duqm as an influential regional hub as well as demonstrate its long-term investment benefits,\" he added. time of oman