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Investment Ministry, Omani Commerce Ministry sign MoU to enhance cooperation

By Maria Weldali - Feb 23,2024 - Last updated at Feb 23,2024

Minister of Investment Kholoud Saqqaf and Omani Minister of Commerce, Industry, and Investment Promotion Qais Mohammed Al Yousef sign on Thursday a Memorandum of Understanding aimed to broaden the scope of investment relations and economic collaboration between the two countries (Petra photo)

AMMAN — Minister of Investment Kholoud Saqqaf and Omani Minister of Commerce, Industry, and Investment Promotion Qais Mohammed Al Yousef signed on Thursday a Memorandum of Understanding (MoU) aimed to broaden the scope of investment relations and economic collaboration between the two countries. 

During the meeting, attended by Minister of Industry, Trade, and Supply, Yousef Shamali, along with relevant stakeholders and senior officials from both sides, Saqqaf emphasised the importance of exploring and consolidating joint investment opportunities across various sectors.

She also highlighted the need to enhance economic relations through the organisation of relevant events, increased delegation exchanges, and fostering of partnerships at the private sector level.

Saqqaf said that the meeting is a follow-up to the Royal visit to the Omani Sultanate in late 2022. She also highlighted a diverse portfolio of 36 investment opportunities, spanning various sectors and geographical locations, with a total investment size of $1.4 billion.

She also noted that Omani investments in Jordan are primarily concentrated in the industrial sector, expressing a keen interest in further cooperation and coordination. “Jordan is committed to promoting long-term sustainable investments,” Saqqaf affirmed.

The MoU paves the way for both countries to collaborate on attracting direct investments. 

Al Yousef expressed pride in the strength of the longstanding ties between the two countries and reflected on the various investment opportunities in Oman.

In 2022, Jordan’s exports to Oman reached $70.2 million, while imports from the Sultanate amounted to $57.4 million.

Shamali underscored the importance of increasing the trade volume between the two countries, noting that the legal and legislative frameworks, as well as political will, support such collaboration.

A second MoU was signed between the Jordan Chamber of Commerce and the Oman Chamber of Commerce and Industry, aiming to enhance trade cooperation and promotion.

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