Egypt-Oman joint investment fund to be finalized in Q4 in 2023

CAIRO - 24 May 2023: Hala El Said, Minister of Planning and Economic Development, met with Sultan bin Salem Al Habsi, Omani Minister of Finance, and Abdul Salam Al-Murshidi, Chairman of the Omani Investment Authority, to discuss ways of joint cooperation, on the sidelines of the Egyptian-Omani Businessmen Forum meeting.

The Oman Investment Authority’s Chairman identified a number of priority sectors including the pharmaceutical industries, food industries, and renewable energy.

The study of the projects proposed for the partnership will be completed by the end of Q3 this year, and the implementation of joint investments will begin in the last quarter of this year.

During the meeting, they discussed joint investments between the Sovereign Fund of Egypt and the Omani Investment Authority.

Earlier this month, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported that the volume of trade exchange between Egypt and Oman recorded $1.1 billion in 2022, compared to more than $650 million in 2021, according to. This is a 64.6 percent increase.