Muscat: H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, witnessed the signing of an agreement to develop and operate the first phase of the Al Rawdah Special Economic Zone in the Al Buraimi Governorate, Sultanate of Oman. The signing was part of a UAE delegation's visit to Oman, led by Sheikh Hamdan.
According to Emirates News Agency, the agreement was signed in Muscat in the presence of His Highness Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth of Oman. Eng. Ahmed bin Hassan Al Dheeb, Deputy Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), and Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, signed the agreement representing Mahadha Development Company, an Emirati-Omani joint venture with DP World as the majority partner.
Sultan Ahmed bin Sulayem commented on the occasion, stating that the Al Rawdah Special Economic Zone marks a new chapter in UAE-Oman economic relations. He emphasized the zone's role in fostering trade ties and pursuing sustainable economic growth. Eng. Ahmed bin Hassan Al Dheeb highlighted that the zone aligns with Oman Vision 2040 and is strategically located to enhance logistics efficiency and market access.
Phase 1 of the project will span 14 square kilometers, with plans to expand to 25 square kilometers in Phase 2. Mahadha Development Company will oversee infrastructure development, master planning, and environmental studies. The first phase will focus on various economic activities, including manufacturing, logistics, and pharmaceuticals, among others.
The project aims to bolster supply chains, re-export activity, and logistics connectivity between Oman, the UAE, and international markets. It is expected to attract foreign direct investment, increase industrial output, and create jobs, aligning with the Dubai Economic Agenda D33 and Oman Vision 2040.
In 2024, UAE-Oman non-oil trade reached AED56 billion, showcasing the strengthening economic partnership. The Al Rawdah Zone is anticipated to further this trend by establishing a modern trade and manufacturing ecosystem.
DP World, with its extensive experience in developing economic zones like Jebel Ali Free Zone, is positioned to deliver a future-ready platform in Oman, supported by OPAZ's national development strategy. The signing was attended by several dignitaries from both countries, highlighting the significance of the agreement.
