Muscat: In the presence of His Majesty Sultan Haitham bin Tarik, the Oman Investment Authority (OIA) signed 23 agreements, memoranda of cooperation, memoranda of understanding and strategic and investment partnerships with Chinese institutions and companies, valued at several billion US dollars.
The agreements cover the establishment of joint investment funds, expansion of investment cooperation and attraction of industrial and technological projects to the Sultanate of Oman. They were signed during the Oman-China Investment Partnership Horizons Forum, organised by the OIA at the headquarters of the Bank of China today, coinciding with His Majesty’s state visit to the People's Republic of China.
Signed by the OIA, a number of Omani companies and institutions, and their Chinese counterparts, the agreements cover several promising sectors, including renewable energy and related industries, mining, logistics, digital transformation and space technologies. They also include cooperation in banking, trade and project financing, direct investment and asset management.
The agreements support the OIA’s strategic objective of establishing long-term partnerships that combine economic viability with maximising added value for the national economy. They also reflect the Authority’s role in advancing economic diplomacy by leveraging its international partnerships to broaden investment cooperation, strengthen Oman’s presence in global markets and align international investment opportunities with national economic priorities.
The partnerships seek to attract capital and technology to Oman, localise industrial activities and specialised services, facilitate knowledge transfer, develop national capabilities and strengthen cooperation between Omani and Chinese companies. They also aim to integrate local projects into international production, distribution and market networks.
Abdulsalam bin Mohammed Al Murshidi, President of the OIA, said His Majesty’s state visit to China marks a significant milestone in the economic partnership between the two countries, opening wider opportunities for the Authority and its subsidiaries to translate bilateral relations into tangible investments and projects that serve their mutual interests.
He said the agreements signed during the forum reflect a diverse range of cooperation, with a particular focus on attracting investments and localising industries and technologies in Oman.
Al Murshidi added that the OIA regards its international partnerships as a strategic pathway to developing assets, generating sustainable returns and expanding opportunities for the national economy.
Through these partnerships, the Authority also seeks to maximise the benefits of the ‘Omani dimension’ by directing investments towards the local market and enabling Omani talent and companies to access knowledge and technologies, while maintaining economic viability and adhering to agreed investment frameworks.
He noted that cooperation with Chinese institutions is in line with the Authority’s strategy to diversify its international partnerships, distribute investments across different geographical regions and sectors, and benefit from opportunities in priority markets.
The investment forum, he said, provided a direct platform to present Omani investment opportunities to investors, connect relevant stakeholders with potential partners and help translate areas of cooperation into practical projects.
As the first-ever visit by an Omani Sultan to China, His Majesty’s state visit gives fresh impetus to bilateral relations and opens wider prospects for developing economic and investment partnerships, building on historical ties and growing cooperation across various fields.
Against this backdrop, the Oman-China Forum provided a platform for direct engagement between investment institutions, financial entities and companies from both countries. It brought together representatives of government bodies, sovereign wealth funds, investment firms and enterprises operating across different economic sectors.
The forum also offered an opportunity to showcase promising investment opportunities in Oman, highlight its competitive advantages and emphasise its strategic location as a gateway to regional and international markets. Discussions focused on areas of mutual cooperation, the exchange of expertise and the development of strategic partnerships.
These efforts are intended to attract investments and technologies, expand the presence of Chinese companies in the Omani market and create new opportunities for Omani companies to access the Chinese market.
Joint Investment Fund
Among the key outcomes was the signing of a preliminary terms agreement between the OIA and China's Silk Road Fund to establish a joint investment fund with a capital of RO 307.6 million ($800 million).
The majority of the fund's investments will be directed towards Oman, while the remainder will be allocated to China and other emerging markets. The initiative is expected to expand joint investments across various sectors, with a significant share channelled into the Omani market to support the attraction of new projects and capital to the national economy.
New Investment Fund
The OIA also signed a term sheet with China Merchants Bank to establish a second investment fund worth RO 115.35 million ($300 million), with both parties contributing equally.
The initiative builds on a partnership launched in 2019 through the establishment of a first fund of the same value, which focused on investments in China's technology sector. The new fund will further strengthen cooperation between the two sides and broaden their investment opportunities.
In addition, a memorandum of understanding was signed with China Investment Corporation (CIC) to establish a framework for jointly identifying, evaluating and pursuing investment opportunities in both Oman and China.
The cooperation is expected to broaden partnerships with international investment institutions and provide access to opportunities across different markets, drawing on the expertise and professional networks of both parties.
In the energy and related industrial sectors, the OIA signed a term sheet with BCG and Hui Mills for a partnership valued at RO 38.45 million $100 million). The partnership aims to develop solar energy projects in Oman and establish a manufacturing facility for solar energy inverters to support the sector.
The agreements signed during the Omani-Chinese Forum also cover digital transformation, space technologies, logistics, mining, energy storage, banking and asset management, reflecting the expanding scope of investment cooperation between the Sultanate of Oman and the People's Republic of China.
In the digital transformation sector, the package includes two memoranda of understanding (MoUs) involving the Ministry of Transport, Communications and Information Technology and Oman Telecommunications Company (Omantel) with WPS and Huawei.
The first MoU focuses on cooperation in the government’s digital transformation programme, while the second covers the installation of Ascend neural processing units (NPUs), specialised electronic chips and high-performance computing accelerators designed to strengthen technical capabilities and infrastructure for advanced applications, in line with the agreed scope and implementation requirements.
In the space sector, two cooperation agreements were signed between Adasat Oman, a company specialising in satellites and artificial intelligence, and StarVision Aerospace.
Training for Omanis
The first agreement provides for a five-year joint programme to sponsor 30 Omani nationals for master’s and doctoral studies in China, train 1,000 Omani specialists and establish a joint laboratory for space-related artificial intelligence. The programme aims to facilitate knowledge transfer, localise technology and develop national capabilities.
The second agreement, under the Space Silk Road programme, covers cooperation in the development, launch and operation of satellites in two phases. The first phase involves seven satellites, with its success determining the feasibility of proceeding with a second phase involving additional satellites.
The agreement also provides for the establishment of a satellite assembly, integration and testing facility in Oman, alongside technology transfer, training of Omani talent and the gradual development of local manufacturing capabilities.
In the logistics sector, Asyad Group signed a cooperation agreement with JD.com to develop warehousing and logistics solutions and facilities in Oman. The initiative will begin with the establishment of three distribution warehouses in Muscat Airport Free Zone, Khazaen Economic City and Sohar Free Zone.
The partnership also involves integrating the networks of both parties to serve markets across the Gulf Cooperation Council (GCC) countries and East Africa, while exploring digital solutions, automation and technological applications to improve operational efficiency and supply chains.
In the mining sector, Minerals Development Oman (MDO) signed an integrated mining services contract with Hongda International for the Mazoon Copper and Gold Project in the Wilayat of Yanqul.
Valued at RO 161 million ($418.7 million) and covering a period of 10 years, the contract includes open-pit mining operations such as drilling, loading and hauling, ore delivery, transportation of waste rock and dry-processed tailings, road construction, quality-control drilling, and the provision of required housing and operational facilities.
In energy storage, Nama Holding signed a framework agreement with State Grid International Development Co., Ltd. (SGID) to evaluate and develop two battery energy storage systems, each with a capacity of 500 MW, at the Duqm Industrial station and Ibri Solar III station.
Both systems will operate at 400 kV and be integrated into the national electricity transmission grid.
In the banking sector, Sohar International signed an MoU with Shanghai Pudong Development Bank covering cooperation in syndicated financing and debt capital markets. Specific transactions will be subject to the required approvals and separate definitive agreements.
The agreements also extend to asset and wealth management. Under one agreement, Sohar International will distribute investment funds managed by E Fund Management (Hong Kong) Co., Ltd. in Oman, broadening the range of investment products available to the bank’s clients and providing access to opportunities in Chinese and international markets.
An MoU was also signed with BOC International (Hong Kong) Asset Management to market its investment products, including gold-backed exchange-traded funds (ETFs), to qualified investors. The agreement further provides for cooperation in fund and portfolio management for institutional investors, within the scope of authorised licences.
The agreements build on the OIA’s existing investment presence in the Chinese market, providing fresh momentum to bilateral relations and opening wider prospects for economic and investment partnerships. They translate the growing alignment between the two countries into tangible investment opportunities and projects that support the diversification of Oman’s national economy and expand cooperation with Chinese institutions in priority sectors.
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