(MENAFN) Against the backdrop of Sultan of Oman Haitham bin Tariq's visit to the United Arab Emirates, the joint Emirati-Omani Investment Forum convened in Abu Dhabi, serving as a platform for fostering bilateral cooperation and partnership. During the forum, representatives from both countries engaged in productive discussions and formalized agreements and memorandums of understanding spanning multiple sectors, including technology, renewable energy, investment, industry, and railways.
Among the key agreements signed was a landmark collaboration between ADQ Holding and the Oman Investment Authority, aimed at establishing an investment fund focused on the technology sector. This initiative underscores the shared commitment to enhancing the digital economy and leveraging technological advancements to drive economic growth and innovation.
Additionally, a framework memorandum was inked between Emirati-Omani companies, signaling a commitment to explore the feasibility of implementing projects in critical areas such as iron, green aluminum, and renewable energy. This collaboration aims to capitalize on the respective strengths of both nations and harness sustainable practices to propel economic development.
Further enhancing bilateral investment cooperation, a memorandum of investment cooperation was established between the Ministry of Investment in the United Arab Emirates and the Ministry of Trade, Industry, and Investment Promotion in the Sultanate of Oman. This strategic partnership is poised to facilitate cross-border investments, stimulate economic activity, and create mutually beneficial opportunities for both countries.
In the realm of infrastructure development, significant progress was made with the signing of partnership agreements between key stakeholders, including Etihad Rail, Mubadala, and Asyad Group. These agreements pave the way for the advancement of the Emirati-Omani railway network, with contracts awarded for both main infrastructure and systems integration. This infrastructure initiative holds immense potential to enhance connectivity, facilitate trade, and drive sustainable economic growth across the region.
Overall, the Emirati-Omani Investment Forum exemplifies the deepening ties and collaborative spirit between the two nations, as they work together to capitalize on mutual opportunities and address shared challenges. Through strategic partnerships and targeted investments, both countries are poised to unlock new avenues for growth, innovation, and prosperity in the years to come.
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