Oman’s Sezad woos private sector to invest in Duqm
09 Nov 2014
(MENAFN) The Special Economic Zone Authority at Duqm (Sezad) announced it encouraging the private sector to invest at Sezad by trying to overcome the challenges that investors face, especially in the small and medium enterprise (SME) sector, Times of Oman
Sezad’s plan includes signing similar MoU’s with local banks, with Sezad saying that they are very thankful for the efforts being made by local banks in financing projects that are being set up at Sezad.
As a part of this plan, Sezad said it has signed a memorandum of understanding (MoU) with Bank Dhofar to provide financing for local companies and for the private sector to invest at affordable terms at Sezad, thus bringing the number of MoUs signed by Sezad to deal with this issue to three after signing two earlier with the National Bank of Oman (NBO) and Bank Sohar.
Under the MoU, Sezad and Bank Dhofar will jointly cooperate to encourage investors to invest in Sezad by receiving financing for their projects at Duqm, with Sezad presenting the offers it receives from Bank Dhofar to the investors, companies and institutions that wish to invest at Sezad, including SMEs and Islamic window business
Meanwhile, the bank will offer different types of financing that companies need, and offer various types of loans and bonds, Term Loans, Mortgages, financial and investment consultations of all kinds, electronic banking, corporate credit facilities and many other services.
Sezad said that its ultimate goal by signing these MoUs is creating an advanced and conducive investment environment for local and foreign investors by offering a number of advantages and incentives to invest in the Special Economic Zone at Duqm.
‘We are happy to cooperate with Sezad to finance the enterprises that are being set up at Sezad, and we are committed to provide financing to investors who need funds to set up their projects with affordable terms,’ Acting Chief Executive Officer of Bank Dhofar said.