Qais bin Mohammed Al Yousef, Chairman of the Special Economic Zones and Free Zones Authority of Oman (OPAZ), hosted Saif Nazarov, Head of the Free Zones and Special Economic Zones Department at the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, who is currently visiting Oman. This meeting focused on exploring investment cooperation opportunities between Oman and Uzbekistan in the field of special economic zones and free zones.
Investment Cooperation Opportunities
The discussions centered on encouraging the implementation of export projects, exchanging experiences in managing economic and free zones, and improving services provided to investors. The two sides also examined ways to encourage Uzbek companies to establish projects in the fields of manufacturing, industry, and logistics in the areas under OPAZ's supervision.
During this meeting, efforts to advise Omani investors on partnership opportunities in Uzbekistan's economic and industrial projects, including sectors such as public industry, agricultural processing, food production, chemicals, mining, construction materials, and logistics, were discussed.
Facilitating the Flow of Goods and Services
The two sides also explored methods for establishing trade, distribution, and logistics centers to facilitate the easy flow of Uzbek products to Oman, as well as connecting these centers with logistics hubs in Uzbekistan. These actions are designed to support access to markets for products from both countries in regional and international markets.
Furthermore, the two sides discussed the process of facilitating investment through "one-stop-shop" services and developing institutional capacities and human resources through training programs. These measures are crucial for enhancing the efficiency and attractiveness of investment in both countries.
Cooperation Agreement
In addition, the two sides reviewed a draft memorandum of understanding (MoU) to establish a formal framework for bilateral cooperation. This memorandum of understanding could help strengthen economic and commercial cooperation between Oman and Uzbekistan and represent effective steps towards sustainable and mutual development for both countries.
