Media

An Iraqi trade delegation, led by H.E. Dr. Mohammed Naji Al-Najjar, Executive Director of the Iraq Development Fund, visited the Special Economic Zone at Duqm (SEZAD) today to review various investment projects in the area.

Eng. Ahmed bin Ali Akaak, CEO of SEZAD, briefed the Iraqi delegation about key investments in the zone, incentives and facilities offered to investors, and available investment opportunities across various economic sectors.

He emphasised that the Special Economic Zone at Duqm has successfully attracted over RO 6 billion in investments across various economic sectors in recent years. He highlighted major investment projects in the zone, including Duqm Refinery, Duqm Port, the Dry Dock and the Ras Markaz Crude Oil Storage Terminal. He explained that government investments in the zone have encouraged both local and international companies to invest.

Eng. Akaak reaffirmed that SEZAD welcomes Iraqi investors, pointing to numerous investment opportunities in the industrial, commercial, and tourism sectors. He stated that over the years, Duqm has established itself as a key investment hub in the Arab region, particularly with the growing interest of global companies in renewable energy, green industries, and green steel. He further noted that the presence of international companies in Duqm fosters business growth and creates additional investment opportunities for local and regional firms.

H.E. Al-Najjar expressed his pleasure at visiting the Special Economic Zone at Duqm. He highlighted the numerous opportunities for cooperation between the business communities of Oman and Iraq, emphasising the importance of strengthening economic relations and fostering trade partnerships between the two countries.

He noted that the projects observed during the visit underscored the significance of enhancing partnerships between Omani and Iraqi companies. He emphasised that Duqm offers a wide range of investment opportunities and invited Omani companies to explore the numerous investment prospects available in Iraq.

During the meeting, both sides discussed leveraging Oman’s experience in developing economic zones, exchanging expertise, and engaging in joint investments in both countries. They also explored available investment opportunities in petrochemical industries and oil storage. The Iraq Development Fund expressed its interest in investing in the zone.

As part of the visit, the Iraqi business delegation toured several key projects in Duqm and reviewed the zone’s master plan. The delegation visited the SEZAD headquarters, Karwa Motors, the Ras Markaz terminal, Marafiq Company, and the petroleum derivatives export terminal (liquid and bulk material jetty) at Duqm Port.

The visit was part of ongoing cooperation between Oman and Iraq to explore investment opportunities, strengthen partnerships, and boost trade exchange between the two countries.