The governments of Oman and Qatar have agreed to set up a company called the Qatar and Oman Investment Holding Co with an initial capital of 30 million riyals (Dh285 million).
Each government will hold a 20 per cent equity stake in the company. The remaining 60 per cent of the equity will be owned by private investors in both countries, with 30 per cent reserved for Omani investors and 30 per cent for Qatari investors.
The agreement was signed by Mohammad Bin Ali Al Kiyumi of the Oman Chamber of Commerce and Industry, and Shaikh Abdul Rahman Bin Mohammad Bin Jabir Al Thani of the Joint Businessmen's Council, an Omani-Qatari partnership.
Meanwhile, the Omani-Qatari Joint Committee concluded a series of meetings. It held them in response to a request from the two countries' leaders, according to Abdullah Bin Hamad Al Attiyah, Qatari Second Deputy Prime Minister and Energy and Industry Minister.
The two countries' leaders are keen to promote further co-operation by enhancing the role of the committee and assessing the outcome of its meetings, Al Attiyah said. Joint investments should hopefully increase, he said.
The new investment holding company will further the cause of economic development in both countries, he said.
A senior Omani official praised the joint committee's work, especially its efforts to promote closer bilateral relations in various fields.
The recent meetings should help further consolidate mutual understanding between both countries, a goal shared by the leaders of both Qatar and Oman, the official said.
The committee discussed several topics during its most recent meetings, including following up on the implementation of the recommendations made during the committee's ninth meeting.
