MUSCAT: As part of its ongoing efforts to expand strategic partnerships with friendly and brotherly nations, aimed at reinforcing the Sultanate of Oman’s position as a trusted investment partner and attracting advanced technologies and investments to local sectors, Oman Investment Authority (OIA) has signed a new strategic partnership with Azerbaijan Investment Holding (AIH), the entity responsible for managing and developing state-owned enterprises and investments in the Republic of Azerbaijan. This milestone agreement was signed on the sidelines of a high-level Azerbaijani delegation visit to the Sultanate of Oman, led by the Minister of Economy, along with senior officials and business leaders.

The partnership entails the establishment of a joint investment fund with a capital of RO 77 million, equally contributed by both countries. The fund aims to invest in key sectors including food industries, manufacturing, renewable energy, logistics, healthcare and retail. It also seeks to launch projects with developmental impact in both countries that support income diversification and in-country value (ICV) creation, in line with the objectives of Oman Vision 2040 to build a diversified and sustainable economy.

Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Authority (OIA), stated: "This strategic partnership with the Republic of Azerbaijan reflects OIA’s approach to expanding its global investment network by forming high-impact partnerships that support Oman’s economic diversification goals. It also presents an opportunity to transfer advanced technologies to local sectors. This collaboration underscores the growing trust in Oman as a reliable investment partner. Through this partnership, we will continue exploring promising opportunities with international partners to enhance the developmental impact of our investments and deliver added value to the national economy".

For his part, Ruslan Alikhanov, Chief Executive Officer, Azerbaijan Investment Holding, said: “The establishment of the Joint Investment Fund between Oman Investment Authority and Azerbaijan Investment Holding reflects our shared commitment to strengthening bilateral ties through sustainable and forward-looking investments that create long-term value for the economies of the Sultanate of Oman and the Republic of Azerbaijan”.

This partnership is the tenth of its kind established by OIA with peer institutions and reputable global entities, such as the Oman-Türkiye Joint Investment Fund, in addition to other collaborations with Qatar, Brunei, Uzbekistan, India, Vietnam, Spain, Pakistan and China.

These partnerships reaffirm OIA’s commitment to expanding its international investment footprint and capturing high-value opportunities that align with Oman’s national agenda. They also position Oman as a regional hub for strategic investment and a driver of sustainable economic growth. Moreover, OIA’s efforts to build long-term alliances with prestigious global institutions contribute to knowledge transfer, technology localisation, economic diversification and job creation, while strengthening Oman’s competitiveness across various economic sectors.

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