oil and gas

OPAZ board of directors amends fee structure for services

December 23, 2021

Muscat – To attract more local and foreign investments into Oman’s special economic zones and freezones, the board of directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) has amended the fees for the provided services.

The OPAZ board of directors on Wednesday held its fourth meeting for the year 2021. The meeting was headed by H E Dr Ali bin Masoud bin Ali al Sunaidy, chairman of OPAZ, according to a press statement.

In a bid to attract more investments, the OPAZ board approved a proposal intended to amend the fee structure for the different services provided by OPAZ. The proposal included merging and cancelling some fees, in addition to reviewing the delay penalties.

During the meeting, the board of directors of OPAZ also discussed the digital portal for the services provided to investors in the special economic zones and free zones.

The digital portal has been established in line with the digital transformation plan of the Public Authority for Special Economic Zones and Free Zones. This portal is aimed to facilitate the licensing processes through the special economic zones and free zones supervised by OPAZ.

The board of directors also reviewed the executive status of the usufruct agreements in the Special Economic Zone at Duqm (SEZAD) and the legal actions taken by OPAZ against the non-compliant companies during the past years. Furthermore, the board of directors also approved the fees of the usufruct for one of the green hydrogen projects in Duqm.

muscatdaily

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