Muscat: The India-Oman $100-million joint investment fund will be headquartered in Mumbai, Ahmad Bin Abdul Nabi Macki, Oman's National Economy Minister and Deputy Chairman of the Financial Affairs and Energy Resources Council, said.
"An agreement will be signed to set up a joint investment fund between the [Oman] State General Reserve Fund and the State Bank of India (SBI) with a paid-up capital of $100 million equally between the two sides," he said.
Macki, who is on a visit to India, plans to meet Indian businessmen to familiarise them with Oman's development projects and investment opportunities.
Trade links
The minister pointed out that Oman and India were linked by joint economic, trade and investment relations in oil, gas and energy sectors through the Oman Oil Company.
He also added that there were Omani investments in trade, industry, IT and communication sectors. "These investments had contributed largely to achieving good relations between the two countries," he said.
He said the Omani government was aiming to increase the size of its development projects in the coming five-year plan.
