Oman proposes deal with South Korea to build smart city in Duqm Special Economic Zone
A senior Omani official on
Tuesday proposed a preliminary deal with South Korea to create a smart city in
a special economic zone in his country, the South's prime minister said.
Prime Minister Lee Nak-yon
said that Asa'ad bin Tariq Al Said, the Omani deputy prime minister for
international relations and cooperation affairs, made the proposal for the
development in Duqm, a port town in the country's central-eastern area.
Oman is the third and final
leg of Lee's weeklong trip to Africa and the Middle East that included stops in
Kenya and Tanzania. The main purpose of his trip is to bolster economic and
business ties with the countries.
The special economic zone in
Duqm is being developed to diversify Oman's national economy. It houses eight
main areas, including a port, an oil refinery and the residential, commercial
and tourism area, according to the website of Duqm Special Economic Zone
Authority.
"The two countries have
developed cooperation in the energy sector. South Korea hopes to join Oman's long-term
national development projects," Lee said after holding a meeting with
Oman's deputy prime minister.
"In particular, we hope
that South Korea can become the main partner in developing the special economic
zone in Duqm," he said.
The prime minister voiced hope
that South Korean firms can participate in projects in many areas, including
the petrochemical industry, electricity and smart cities.
Lee said that Oman has three
competitive edges in drawing foreign investment, citing its political
stability, geopolitical location and simple processes for customs clearance.
In response, Oman's deputy
prime minister said that Sultan Qaboos bin Said Al Said has raised the need to
consider giving South Korean firms priority in joining development projects in
Oman.
