The Special Economic Zone at Duqm (Sezad) recently welcomed a delegation from the Asian Infrastructure Investment Bank (AIIB), marking an important step in strengthening cooperation between the two entities. The delegation, led by Sheikh Dr. Ali bin Masoud Al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (Opaz), and Eng. Ahmed bin Ali Akaak, CEO of Sezad, highlighted the efforts being made to implement various infrastructure projects in Sezad. These projects are aimed at attracting local and foreign investment in the region, which has led to an increase in interest in investment in Duqm.
During the meeting, discussions also revolved around enhancing cooperation with the AIIB to utilize the bank’s financial mechanisms for new projects in Sezad. These projects include those focusing on renewable energy, green industries, logistics and supply chains, as well as initiatives aimed at improving the quality of life, such as tourism and service projects. The AIIB delegation commended the growth seen in Duqm since their last visit in 2019 and expressed their eagerness to expand their operations in the region. They also reviewed various projects in Sezad, including the commercial quay at Port of Duqm and the fishing port, which the Bank helped finance. Notably, the Sultanate of Oman is one of the contributing countries to the AIIB, further emphasizing the importance of the relationship between the two entities.
The partnership between Sezad and the AIIB holds great potential for the development of Duqm as a key investment destination in Oman. The region’s strategic location, well-established infrastructure, and favorable investment environment have already attracted numerous local and international projects. With the support of the AIIB, Sezad aims to further enhance its attractiveness to investors and drive economic growth in the region. By focusing on innovative projects in renewable energy, green industries, and logistics, Sezad is positioning itself as a hub for sustainable development and investment opportunities.
In addition to infrastructure projects, Sezad is also keen on promoting initiatives that improve the quality of life in the region, such as tourism and service projects. These developments not only benefit the local community but also contribute to the growth of Duqm as a vibrant economic center. The AIIB’s interest in financing such projects reflects their commitment to supporting sustainable development initiatives that have a positive impact on society and the environment. This aligns with Sezad’s vision of creating a sustainable and inclusive economic zone that caters to the diverse needs of its stakeholders.
The visit by the AIIB delegation underscores the importance of international partnerships in driving economic development and creating opportunities for growth. By working together with global institutions like the AIIB, Sezad can leverage their expertise and financial resources to accelerate the implementation of key projects in the region. This collaboration not only benefits the local economy but also strengthens Oman’s position as an attractive investment destination in the Middle East. As Sezad continues to expand and diversify its portfolio of projects, the support of international partners like the AIIB will be crucial in realizing its vision of becoming a leading economic zone in the region.
