Muscat: The Public Authority for Special Economic Zones and Free Zones (OPAZ) has announced the issuance of the Executive Regulations for the Special Economic Zones and Free Zones Law, completing the legislative and regulatory framework initiated by Royal Decree No. 38/2025. This decision marks a significant advancement in the Sultanate of Oman's efforts to bolster the investment environment and enhance the appeal of its Special Economic Zones and Free Zones for high-quality and strategic projects.
According to Oman News Agency, Regulation No. 81/2026 is a pivotal step in translating the law's principles into a practical implementation framework. This regulation aims to enhance investor confidence, streamline business operations, and regulate the investor journey from land or property allocation through licensing, operations, and service access, to benefit enjoyment, obligations, compliance, and real estate development.
Qais Mohammed Al Yousef, Chairman of the Board of Directors of OPAZ, emphasized that the new Executive Regulations are crucial in fulfilling the objectives set by the Special Economic Zones and Free Zones Law, which include developing a unified legislative framework for investment, improving regulatory clarity, and simplifying procedures. This initiative is expected to boost the competitiveness of these zones, attracting both local and foreign investments and value-added projects.
Al Yousef highlighted that the regulations are designed to improve the investor experience by simplifying processes, strengthening the One-Stop Shop's role, leveraging digital transformation, and providing greater flexibility for strategic projects. The framework aims to accommodate high-quality projects and offer suitable facilitations, thus enhancing the attractiveness of Oman's investment environment aligned with national priorities and strategies.
The regulations reinforce the One-Stop Shop as a central service channel for investors, facilitating all necessary services, approvals, permits, licences, and certificates for economic activities. A key feature is the automatic issuance and renewal of licences through automated verification processes, ensuring that data and approved requirements are met.
Moreover, the regulations address real estate development within Special Economic Zones, regulating licensing, off-plan sales, and foreign ownership of real estate units. They also introduce measures to protect buyers' rights through escrow account requirements and financial controls.
The Authority collaborates with governmental and non-governmental entities to ensure integrated service delivery, enhance service quality, and empower Free Zone operators. This empowerment allows operators to manage transactions and deliver services efficiently, maintaining the Authority's regulatory and supervisory role.
Overall, the Executive Regulations aim to consolidate Oman's reputation as an attractive destination for projects with significant economic impact, supporting Oman Vision 2040's objectives of economic diversification and business environment competitiveness.