- Diplomatic relations have been established between Oman and another entity since 1992, with an Honorary Consulate operating in Muscat.
- Oman, Hainan, and Muscat are hosting high-level talks focused on seeking investment cooperation within economic zones.
Oman Establishes OPAZ to Manage Special Economic Zones and Free Zones
What happened
Oman established the Public Authority for Special Economic Zones and Free Zones (OPAZ) to manage the country's special economic zones and free zones. This structure was implemented through Royal Decree 38/2025. The decree sets a general minimum investment threshold of 10 million OMR for projects seeking strategic status in these zones. Strategic projects must meet this threshold and contribute to one of four areas: knowledge transfer, local content, self-sufficiency, or growth in Oman’s annual exports.
From omanobserver.om
Why it matters
OPAZ is responsible for defining the qualifying sectors and potential incentives within these zones. The OPAZ board may waive the investment threshold if a project's strategic importance warrants an exception. Strategic projects may also receive additional incentives, such as up to 10 years of rent or usufruct charge exemption and up to four years of prescribed Omanisation ratio exemption.
From omanobserver.om
Who's involved
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The entities involved
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Oman
sovereign state in western Asia
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