Oman and Jordan Sign MoU to Boost Investment in Key Sectors

The Sultanate of Oman and the Hashemite Kingdom of Jordan have signed a memorandum of understanding (MoU) to bolster joint investment opportunities across various sectors. This significant agreement was formalized on May 25, 2024, in Amman, Jordan, during His Majesty the Sultan's State Visit to the country.

This agreement has significant implications for the economic development of both Oman and Jordan, as it aims to foster sustainable growth and mutual benefits. The enhanced cooperation in key sectors such as ICT, food, and tourism could lead to increased investment, job creation, and improved living standards for the citizens of both countries.

The MoU was signed by Abdulsalman Mohammed Al Murshidi, Chairman of Oman Investment Authority (OIA), and Dr. Ezzeddin Kanakrieh, Chief Executive Officer of the Social Security Investment Fund (SSIF) in Jordan. The OIA and the SSIF are the primary entities involved in this collaboration.

The agreement aims to enhance joint investment opportunities in several key sectors, including Information and Communications Technology (ICT), food, agriculture, medicines, medical supplies, energy, mining, tourism, and logistics services. These sectors have been identified as areas with significant potential for mutual growth and development.

The MoU is part of a broader strategy to consolidate economic ties between Oman and Jordan, guided by the Royal directives of His Majesty the Sultan. The OIA has identified several joint investment opportunities in Jordan and is actively exploring possibilities in fields such as pharmaceuticals, food security, and mining.

Additionally, discussions are underway to develop real estate projects and establish a direct shipping line between the Jordanian port of Aqaba and ports in Oman. This initiative aims to streamline logistics and boost trade between the two nations.

The signing ceremony was attended by Sheikh Fahd bin Abdulrahman Al Ojaili, Ambassador of the Sultanate of Oman to the Hashemite Kingdom of Jordan, and several Jordanian officials. Their presence underscored the importance of this agreement in strengthening bilateral relations.

This MoU marks a significant step in enhancing economic cooperation between Oman and Jordan. By focusing on strategic sectors, both nations aim to foster sustainable development and mutually beneficial growth.

Key Takeaways

• Oman and Jordan sign MoU to boost joint investment opportunities.
• Agreement aims to foster sustainable growth and mutual benefits in key sectors.
• Sectors include ICT, food, tourism, energy, mining, and logistics services.
• Oman Investment Authority and Jordan's Social Security Investment Fund lead collaboration.
• MoU part of broader strategy to consolidate economic ties between Oman and Jordan.