Oman welcomes Iranian investment in free zones
Baku, Azerbaijan, Sept. 28
By Fatih Karimov - Trend: Oman welcomes Iranian investment in its free zones.
Yahya bin Said Al Jabri, Chairman of the Omani Special Economic Zone Authority at Duqm, said a three year tax exemption and 100 percent ownership will be granted to Iranian investors, Iran's Fars news agency reported Sept. 28.
He made the remarks in a meeting with the chairman of Tehran Chamber of Commerce, Industries, and Mines.
Oman does not rely on its oil revenues, the Omani official said, adding that importing and exporting goods via the special economic zone will be tax exempt.
The Omani government has decided to boost national revenues on one hand and support the private sector on the other hand to improve its economy, he added.
Iran-Oman relations have grown more positive in recent years, especially since Oman mediated between Iran and the US to start talks on the Iranian nuclear program.
The major economic contract between the two neighbor countries is a gas trade contract, signed in 2013. According to the contract, Iran would have to give Oman 28 million cubic meters of gas per day for 15 years.
Non-oil trade between the two countries amounted to $460 million in the past Iranian fiscal year (March 2014-March 2015), according to the Iran Customs Administration.
Edited by CN