UAE and Oman seek to improve the development of $ 15.2bn trade relationship with a new special economic zone in two countries.
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense, and Chairman of the Executive Council of Dubai, Witnessed The First Phase of the Al Rawdah Special Economic Zone, located in the Wilayat of Mahadha, Al Buraimi Governorate, in the Sultanate of Oman.
Phase 1 of the project covers 14sq km, with expansion plans to reach 25sq km in phase ali and Omani ports, development of dubai and Omani developments
Al Rawdah Special Economic Zone Increases Trade Trade
Signing occurred to visit a high degree of delegation in UAE to Oman led by Sheikh Hamdan Bambod Bin Mohammed.
The sign of the agreement, occurring in Muscat, Sayyid Seazin Bin Haitham Al said, Minister of Culture, Sports and Youth of Oman. The agreement about the development of economic cooperation between two countries.
The agreement signed by Ahmed Bin Hassan Al Dheeb, Deputy Chairman of the Public Authority for special economic zones and zonz), and Sultan Ahmed Bin Sundem, Chairman in Group. CHAIRMAN AND CEO SA DP Worldthat represents the development company in Mahadha, which will develop new zone.
Mahadha’s development company is an Emirati-Omani joint venture where DP World is most partner.
Sultan Ahmed Bin Pulayem said: “Al Rawdah Special Economic Zone represents a new chapter of growing economic relations between UAE and Sultanate in Oman.
“By the close collaboration of Onan and Omani with Omani, this new zone will strengthen our deep trading bonds while reflecting on our share of economic growth for sustainable economic growth.
“In the DP world, we have commitment to develop the world’s platform to create new opportunities for growth, strengthening the connection and bringing the long economic value of Oman and UAE.”
Ahmed Bin Hassan Al Dheeb said: “The Al Rawdah Special Economic Zone has been designed to support Key Development Goals, including Creating Jobs, Attracting Advanced Knowledge and Modern Technologies, and Fostering a Business-Friendly Development Objectives of Oman Vision 2040.
“The strategic location of the Buraimi Governoring, at Crossroads between Oman and UAE, provides a seamless connection to Gulf, Asian, and Route Routes.”
Under the Agreement, Mahadha Development Company can be held responsible for developing infrastructure and facilities, preparing a masterplan and environmental studies, and designing initial layout.
The first round will target a range of economic activities, including:
- Hence
- Logism
- warehouse
- Pharmaceutical
- Medical items
- plastic
- Mining
- Processing food
- Security and Safety Service
The Project of Al Rawdah is a strategic initiative to keep its geographical location to strengthen the bonds, export activity between Oman, IAE markets, and international.
The zone will serve as a key-changing key machine that is consistent with Dubai Economic Agenda D33 and Oman Vision 2040.
It aims to attract foreign direct investments (FDI), increasing industry output, and produce thousands of jobs as zone scales in the coming decades.
In 2024, non-trade in the oil between UAE and Oman reached a record AED56bn ($ 15.2bn), a year rise from last year, which emphasizes the deepening economy.
Al Rawdah Zone is expected to facilitate this fashion by establishing a modern and advanced ecosystem for trade and making.
DP World brings four decorative skills to develop and operate economic zones, including Jebel Ali Free Zone (Jafza), one of the most successful worldwide.
This experience is with the portfolio of 11 Economic Zones Worldwide DP to bring an upcoming platform in Oman, supported by the National Development Strategy.
