Omani Economic City Nearly Completed

A 50-sq-km economic city that will attract investment to the Gulf state of Oman has started to take shape with the completion of the bulk of infrastructure work. Work completed involves sea dredging, roads, water networks, power, sewage and other infrastructure works. Khazaen, Oman's second major economic zone after Duqm, is located in the Northeastern port of Barka and is set to bring together a broad range of logistics, light industrial and commercial businesses. It is the largest public and private partnership (PPP) land development project in non-OPEC Oman, which has been locked in a drive to diversify its economy away from volatile oil sales. The city will benefit from dry port and a new free zone and it offers 100 percent foreign ownership, 0 percent import and re-export duties, up to 25 years corporate tax holiday and 0 percent personal income tax alongside sector-specific zones and clusters