Muscat – Oman and China’s Hainan Province have explored ways to expand economic and investment cooperation, with a focus on special economic zones, free zones and industrial cities, as well as developing investment partnerships across promising economic and industrial sectors.

The discussions took place when H E Qais Mohammed Al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), received an economic delegation from Hainan Province at OPAZ headquarters in Muscat on Monday. The delegation was headed by Bater, Executive Vice Governor of Hainan Province.

The two sides reviewed investment opportunities available in Oman’s special economic zones, free zones and industrial cities supervised by OPAZ, while discussing potential areas of cooperation with Hainan and opportunities to establish partnerships between companies and institutions from both sides.

They stressed the importance of strengthening coordination and facilitation and creating an environment conducive to economic and investment cooperation. They also highlighted the need to involve economic zones, companies and the private sector in developing and implementing investment and commercial projects of mutual interest.

The discussions also covered opportunities to exchange expertise in the development and management of economic and specialised zones, strengthen integration between zones and ports, develop industrial clusters and attract high-quality investments. The two sides emphasised the importance of moving from broad frameworks of cooperation towards practical partnerships based on specific initiatives and projects.

OPAZ also presented the ecosystem of special economic zones, free zones and industrial cities under its supervision, highlighting the investment environment they offer and Oman’s strategic location, regulatory flexibility and access to regional and global markets.

The presentation also highlighted the logistical advantages provided by Oman’s network of ports and airports and its integrated infrastructure, which support investors in accessing markets and expanding their businesses.

The two sides further discussed strengthening links between the business communities of Oman and Hainan and promoting investment opportunities among Chinese companies seeking to invest or expand in OPAZ-supervised zones.

Such cooperation, they said, could contribute to attracting high-quality investments, strengthening industrial integration and facilitating the transfer of knowledge and modern technologies.

Both sides reaffirmed the importance of continued coordination and exchange of expertise and agreed to explore new areas of cooperation and partnership to further strengthen economic and investment relations between Oman and China, represented by Hainan Province.