Oman-UAE Investment Forum Explores Enhanced Economic Cooperation

 Oman, 24 April, 2024 :  The Oman-UAE Investment Forum held at the Emirate Palace Hotel in Abu Dhabi discussed enhancing cooperation between Oman and the UAE across various sectors. The event coincided with His Majesty the Sultan’s state visit to the UAE.

Abdussalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority, highlighted the growing economic partnership, noting that bilateral trade reached RO 5.4 billion by the end of 2023.

Qais bin Mohammed Al Yousef, Oman's Minister of Commerce, Industry and Investment Promotion, shared that 1,308 Omani companies had Emirati participation in 2023, with an Emirati investment of about RO 272 million.

Suhail bin Mohamed Al Mazrouei, UAE Minister of Energy and Infrastructure, praised the achievements of joint venture "Hafeet Rail". He emphasized the railway network's role in boosting local and regional trade and diversifying both countries' economies.

The forum showcased presentations from Invest Oman, Oman Investment Authority, and Oman Hydrogen Company 'Hydrom'. Additionally, the new brand identity for Hafeet Rail was unveiled, symbolizing the joint venture of Etihad Rail, Oman Rail, and Mubadala, inspired by Jebel Hafeet mountain linking Oman and the UAE.

Source : www.omannews.gov.om