The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) held its fourth meeting for the year 2021 today [December 22], under the chairmanship of Dr. Ali Masoud Al Sunaidy, Chairman of OPAZ.
During the meeting, the Board of Directors touched upon the digital portal for the services provided to investors in the special economic zones and free zones.
The portal has been established in line with the digital transformation plan of the Public Authority for Special Economic Zones and Free Zones. This portal is aimed to facilitate the licensing processes through the special economic zones and free zones supervised by OPAZ.
In a bid to attract more investments, the Board approved a proposal intended to amend the fees for the different services provided by OPAZ. The proposal included merging and cancelling some fees, in addition to reviewing the delay penalties.
More details on the fees restructure aren’t available at the moment but are expected soon.
During the meeting, the Board reviewed the executive status of the usufruct agreements in the Special Economic Zone at Duqm (SEZAD) and the legal actions taken by OPAZ against the uncompliant companies during the past years.
Furthermore, the Board of Directors also approved the fees of the usufruct for one of the green hydrogen projects in Duqm.
