OIA and ADQ strengthen trade and economic ties through investments worth $8 billion

OIA and ADQ strengthen trade and economic ties through investments worth $8 billion

On the sidelines of the UAE president’s visit to Oman, ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with the Oman Investment Authority (OIA) worth AED 30 billion which accounts for $8 billion, across a variety of sectors aimed at strengthening economic cooperation and trade between both countries.

The AED 30 billion is divided across different investment opportunities.

ADQ and OIA entered into an AED 10 billion partnership agreement to facilitate investments between the UAE and Oman across different sectors. Moreover, ADQ and Oman Information, Communication, and Technology Group (ITHCA) signed an MoU to establish an AED 592 million venture capital fund to invest in high-growth technology companies in Oman.

There will be investments to be assessed further that are worth over AED 30 billion in new projects within Oman across target sectors including hydrogen, solar and wind, green aluminum, and steel, as well as water and electricity transmission lines.

“Our partnership with a like-minded institution, such as ADQ, showcases our shared commitment to building long-term sustainable relationships. Our discussions today will not only create a platform to enable us to explore mutually beneficial co-investment opportunities but facilitate knowledge sharing to strengthen our respective organizations’ investment platforms,” Abdulsalam Al Murshidi, President of Oman Investment Authority (OIA), said.

ADQ is also exploring investment in other sectors that include but are not limited to food & agriculture, logistics, technology, and healthcare. This is in line with ADQ’s goals to expand its power, water, and industrial platforms throughout Oman to capture synergies that achieve long-term and sustainable value creation for both nations. 

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