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Salalah Free Zone, Jafza to sign MoU |
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7/26/2006 8:41:31 AM |
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DUBAI—The Jebel Ali Free Zone Authority (JAFZA) will sign a memorandum of understanding with Salalah Free Zone Corporation today to help further develop the Omani facility.
Under the MoU, the two sides will lay down a framework for Jafza to take over the management of the Salalah zone.
A joint team will be set up to prepare a feasibility study and Jafza will present its proposal for managing the free zone within three weeks of signing the MoU.
The two sides will then negotiate the terms of their management agreement.
The Salalah Free Zone and its modern port are strategically positioned on the Indian Ocean front of the Arabian Peninsula.
Oman now wants to further develop the facilities to attract foreign investments.
JAFZA's vast experience in developing and managing free zones has been a strong factor in Salalah's decision to seek its help.
The initiative is seen as another step towards furthering economic ties between Oman and Dubai. |
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