Friday 03 / May / 2024
Muscat : The Sultanate of Oman and the United Arab Emirates (UAE) have signed several agreements and memorandums of understanding in various fields, including investment, renewable energy, railways and modern technology.
The Sultanate of Oman and the United Arab Emirates signed on Tuesday at the Emirates Palace Hotel in Abu Dhabi, several agreements and memorandums of understanding in various fields, including investment, renewable energy, railways and modern technology, as part of a “state” visit by His Majesty Sultan Haitham bin Tarik to the United Arab Emirates.
A memorandum of understanding in the field of investment was signed between the Ministry of Commerce, Industry and Investment Promotion and the UAE Ministry of Investment, aiming to explore, identify and exchange investment opportunities in the fields of economic and investment cooperation.
In the field of modern technology, announcement was made for the actual start of work on the “Jusoor” Fund, and the activation of direct investments in emerging technology companies and small and medium enterprises working in the technical sector.
The Abu Dhabi Developmental Holding Company, represented by Lunit, and the Oman Investment Authority, represented by the ITHCA Group, are committed to financing the fund with a volume of $180 million, according to a prior commitment within the framework of a memorandum of understanding signed between the two parties in the year 2022 .
In the field of renewable energy, a number of Omani institutions and companies affiliated with the Oman Investment Authority that embrace green minerals and work in the field of renewable energy and the electricity sector, signed a framework memorandum with a number of leading companies in these fields in the United Arab Emirates, to begin work on feasibility studies to implement innovative projects in the fields of iron, green aluminium, and renewable energy.
