MUSCAT: Oman will jointly establish an investment company with Bahrain with a capital of OMR 10 million with Muscat as its headquarters, His Excellency Eng. Rida bin Juma Al Saleh, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry (OCCI) has informed.
The announcement comes after the Omani delegation’s visit to the Kingdom of Bahrain. “It was agreed to establish the Omani Bahrain Investment Holding Company with a capital of OMR 10 million with Muscat as its headquarters, Al Saleh said.
In a statement issued to the Oman News Agency, he added that the company will be equally divided between Omani businessmen and their counterparts on the Bahraini side, and will be interested in investing in the field of food security and in existing companies working in this field and in other sectors focused on Oman 2040 vision.
He explained that the company will focus in the first phase on investing in those sectors in the Sultanate of Oman and then move to invest in the Kingdom of Bahrain, noting that the chamber of commerce in the two countries will each contribute 10 percent during the establishment stage.
Al Saleh stressed that a committee was formed from both sides to establish the company and then establish a board of directors for the company to be completed before the end of this year.