His Majesty Sultan Haitham bin Tarik issued two Royal decrees today [July 3, 2023], reading as follows:
Royal Decree No. 44/2023 establishes Khazaen Economic City and promulgates its Bylaw (articles of association).
Article (1) stipulates that an economic city shall be set up in the Governorate of South Al Batinah, to be named “Khazaen Economic City” and to be established on the land area demarcated in accordance with the layout attached to this decree. The city shall be under the supervision of the Public Authority for Special Economic Zones and Free Zonesand it shall be governed by the attached Bylaw.
Article (2) states that two free zones shall be established within Khazaen Economic City on the specific land area demarcated in accordance with the attached layout, which is specified in the Development Agreement defined in the attached Bylaw.
Article (3) endorses the Development Agreement and the Usufruct Agreement for Khazaen Economic City stated in the attached Bylaw.
Article (4) states that Oman Logistics Company LLC shall be the operating party of Khazaen Economic City and the two free zones set up therein. Khazaen Economic City Company LLC shall be the developer of Khazaen Economic City and the two free zones set up therein.
Article (5) states that the Chairman of Board of Directors of thePublic Authority for Special Economic Zones and Free Zones shall issue the regulations and decisions necessary for the implementation of the provisions of the attached Bylaw.
Article (6) says that this decree shall be published in the Official Gazette and enforced from the day following its date of publishing.
Royal Decree No. 45/2023 endorses the Sultanate of Oman’s joining the Convention on the Privileges and Immunities of the Specialized Agencies, adopted by the General Assembly of the United Nations on 21 November 1947.
Article (1) endorses the Sultanate of Oman’s joining the Convention on the Privileges and Immunities of the Specialized Agencies, in accordance with the version attached to this decree while at the same time observing the reservation of section (32) of article 9 of the convention.
Article (2) instructs the departments concerned to deposit the official document for joining the aforementioned convention in accordance with its provisions while at the same time observing the above-mentioned reservation.
Article (3) says that this decree shall be published in the Official Gazette and enforced from its date of issue.
