Duqm Economic Forum to Showcase Oman’s Green Industry Advancements

Duqm Economic Forum to Showcase Oman’s Green Industry Advancements

The Duqm Special Economic Zone (Sezad) in Oman is all set to host the Duqm Economic Forum on October 16 and 17. The forum is expected to emphasize the advancements in the green industry sector and discuss the key initiatives attracting investment to the area. Aligning with the vision of the Public Authority for Special Economic Zones and Free Zones (Opaz), the forum aims to promote green industries and carbon neutrality by 2050, as directed by Sultan Haitham bin Tarik.

Strategic Investments in Sezad’s Green Industry

Several strategic investments have been made in Sezad’s green industry sector, putting it on the map as a hub for renewable energy projects. Key investments include the Vale Green Iron Production Complex and the Jindal Shadeed Group’s green iron production initiatives. Another significant project is the reduced iron factory being constructed by Kobe Steel, Mitsui, and Partners Limited. These investments are expected to add value to the local economy and provide opportunities for small and medium-sized businesses.

Forum’s Agenda: Renewable Energy and Green Industries

The forum will cover a wide array of topics, including the benefits of renewable energy in Duqm, supply and demand trends, consumer needs, and investment opportunities in green industries. Special attention will be given to the green hydrogen industry, solar and wind energy, energy transition efficiency, energy storage, and the role of public-private partnerships in renewable energy projects.

Role of Duqm Port as a Green Port

The forum will also shed light on the role of Duqm Port as a green port, highlighting its importance in promoting investment in the green industries sector. Serving as a multimodal global logistics center, Duqm Port is a crucial access point to local and international markets and a versatile hub for business, industry, and economic activity. The potential for large industrial companies that rely on the Port of Duqm’s infrastructure for their operations, along with opportunities for shipping, maritime, and transport companies, will be explored during the forum.

Key Innovations in the Petrochemical Sector

Major contributions of the petrochemical sector to renewable energy systems will also be discussed. The forum will highlight the significant investments made in the Duqm Refinery and the crude oil storage terminal, the largest oil storage and export project in the Middle East. Opportunities for petrochemical manufacturers looking to tap into expanding markets associated with clean energy and modern technology will be showcased.

Attendance and Expected Outcomes

The forum will host numerous local, regional, and international companies invested in Sezad. It is anticipated to facilitate in-depth discussions from experts, specialists, and potential investors in the green industries sector from Oman and beyond. Attendees will gain insights into current initiatives, the favorable investment environment in Duqm, and its significance for regional economic sectors.