Oman and Jordan launch $100m investment firm

BUSINESS REPORTER
MUSCAT, JULY 8
Oman Investment Authority (OIA) and the Jordanian Social Security Investment Fund (SSIF) have signed an agreement to launch the Omani-Jordanian strategic partnership to mark the beginning of a new phase of joint investment cooperation between the two brotherly countries and to enhance the established historical ties and growing economic relations between them.
Under the partnership, the two parties established the Jordanian Oman Investment Company with a capital of RO 38.5 million ($100 million) equally between the two sides to invest in a number of vital and promising sectors that serve the economic priorities of the two countries, including the priorities of Oman Vision 2040. The sectors are communications and information technology; agricultural and food; medical equipment and medicine; energy; mining; tourism and logistics services.
This strategic partnership builds on OIA's approach to enhancing the geographic and sectoral diversification of its investment portfolio, which serves as a strategic instrument for safeguarding assets, diversifying risk and developing investment platforms that ensure sustainable economic returns and the flow of capital.
Mulham bin Basheer al Jarf, Deputy President of the Oman Investment Authority for Investment, said that the Omani-Jordanian strategic partnership represents a significant milestone in the longstanding relations between Oman and Jordan. It reflects the directives of the leaders of both countries into projects that enhance economic aspects, building on a legacy of cooperation, exchange of experiences and investment in promising projects with sustainable economic and developmental impact that enhances the common interests of the two countries.
This partnership enhances OIA's role in implementing economic diplomacy as it works to deepen cooperation with partners in brotherly countries. It also contributes to directing investments towards priority sectors and enhances the geographical and sectoral diversity of OIA’s portfolio.
On the Jordanian side, the Chief Executive Officer of the Social Security Investment Fund, Dr Ezzeddine Kanakrieh, said the agreement represents a strategic step in the process of cooperation between the Fund and OIA, embodying a shared vision of deploying capital and institutional expertise to build economically viable investments in priority sectors. The agreement is an extension of the Fund's approach to expanding its presence at the regional and international levels”.
This agreement establishes a new phase of joint investment action based on governance and efficiency, following OIA's partnerships with Qatar, Türkiye, China, Uzbekistan, Vietnam, Pakistan, Spain, Azerbaijan, India, Brunei Darussalam, Kazakhstan and Belarus. It also confirms the commitment of OIA to enhance Oman’s position to be an attractive regional centre for quality investments and a driver of sustainable economic growth by building long-term partnerships that contribute to knowledge transfer, attracting capital and enhancing the competitiveness of the Omani economy in its various sectors.