MUSCAT : The Omani Investment Authority and Saudi Arabia’s Public Investment Fund have signed a memorandum of understanding to frame the cooperation between the two countries in the field of investment.

His Excellency Abdulsalam bin Muhammad Al-Murshidi, Chairman of the Omani Investment Authority, explained that the OIA will identify a group of promising investment opportunities in the targeted economic sectors in the Sultanate and present them to the Saudi-Omani Investment Company, which will invest $5 billion in a variety of projects, as part of economic diversification efforts. This will lead to partnerships with the Omani private sector, in addition to business opportunities for small and medium enterprises, and job opportunities for youth.

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