Khazaen Economic City will be established in the Al Batinah South Governorate and will include two free economic zones, the news agency reported.
The new city will be controlled by Oman's Public Authority for Special Economic Zones and Free Zones, and a state logistics company will be operating both the city and the two free economic zones, the report said.
The International Monetary Fund estimated in June that Oman's economy has been growing steadily as it promotes economic diversification initiatives, supported by favorable oil prices and reforms, while inflation is contained.