Duqm – Investments in the Special Economic Zone at Duqm (SEZAD) touched RO6.3bn (US$16.4bn) in mid-2024, marking a 5.3% increase over the same period the previous year and a 71.8% growth from RO3.68bn at the end of 2022, according to Ahmed bin Ali Akaak, CEO of SEZAD.

He announced the figures during the opening of the second Duqm Economic Forum 2025 on Monday. Organised by the Public Authority for Special Economic Zones and Free Zones (OPAZ) under the theme Leading Change, the two-day event brought together more than 400 participants and 54 speakers from Oman and abroad.

The forum was inaugurated by H E Sultan bin Salim al Habsi, Minister of Finance, who said it reflects Oman’s efforts to accelerate sustainable growth and attract major investments in Duqm. He highlighted SEZAD’s focus on sectors with competitive advantages, including green hydrogen, logistics, advanced manufacturing and tourism.

H E Habsi reaffirmed the government’s commitment to supporting investors through streamlined procedures and incentives. He said a negotiation team reporting to the Ministry of Commerce, Industry and Investment Promotion has been formed to expedite approvals and facilitate strategic investments.

Describing Duqm as an integrated economic ecosystem, he cited its strategic location and infrastructure, including Duqm Port, the dry dock and Duqm Airport, as key enablers of industrial and trade expansion.

Dr Ali bin Masoud al Sunaidy, Chairman of OPAZ, said the forum also highlights the importance of improving liveability in Duqm to complement its growing industrial base. “Al Wusta’s mix of oil resources and renewable energy projects requires the development of urban services and amenities to attract long-term residents and investors,” he said.

Akaak added that the SEZAD Strategy (2026–2030), introduced earlier this year, seeks to position Duqm as a leading global destination for renewable energy, sustainable manufacturing, tourism and high-quality living.

Several key agreements were signed during the forum’s opening day. These include a partnership between Oman Tank Terminal Company and Royal Vopak of the Netherlands to build and operate petroleum and chemical storage facilities, with plans to expand into green ammonia and hydrogen storage. Another agreement between Energy Development Oman and Japan’s Sumitomo Corporation will establish a supply chain company specialising in the energy sector.

The first day also featured discussions on renewable energy, tourism development, green manufacturing and regenerative growth. Participants emphasised Duqm’s potential to become a regional model for sustainable industrial and tourism development supported by green finance, technology and natural resources.