Duqm SEZ ‘to register new companies in 15 minutes’

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Duqm SEZ ‘to register new companies in 15 minutes’

Aug 11, 2020 8:42 AM

The Special Economic Zone (SEZ) in Duqm can now register new businesses in under 15 minutes as opposed to around five days until recently under revamped and modernised procedures that have been introduced by the SEZ Authority (Sezad), a media report said.

The streamlined procedures are aimed at positioning the SEZ as an investment destination and integrated hub anchored by a modern city that offers the highest living standards, Dr Ismail Ahmed al Balushi, CEO – Sezad, was quoted as saying in an Oman Observer report, which cited his interview featured in Duqm Economist.

“The digital transformation plan being currently implemented by Sezad has contributed to reducing the time required for completing investor applications,” said Dr Al Balushi. “In addition, investors can get their business licenses from Sezad in just one day without the need to approach other entities once all required documents are submitted. This will ensure that projects can start their economic activities in a speedy and flexible manner.”

Under the revamped procedures, applications for land usufruct will be processed within five days (compared with 30 days previously), while a business license will be issued in 24 hours (versus five days previously). Likewise, construction permits will be issued within five days presently, as opposed to 15 days in the past.

Environmental permits will be issued within 25 days for Grade 1 (heavy industries), five days for Grade 2 (medium industries) and two days for Grade 3 (light industries), Dr Al Balushi said.

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