JEDDAH: Oman and Jordan have agreed to establish a 38.5 million Omani rial ($100 million) joint investment company targeting strategic sectors including energy, mining, technology, and pharmaceuticals as both countries pursue economic diversification.
The company, jointly owned by Oman Investment Authority and Jordan’s Social Security Investment Fund, or SSIF, will invest equally across high-growth sectors, also including telecommunications, food security and medical equipment.
The announcement comes days after the World Bank approved a $700 million loan to help Jordan translate its macroeconomic stability into stronger private investment and job creation.
It also aligns with Oman’s efforts under its Vision 2040 initiative to attract investment into non-oil sectors, supported by World Bank-backed reforms to improve the country’s investment climate and expand private-sector participation.
“The initiative is expected to support economic diversification, stimulate domestic markets, and create added value by fostering the growth and integration of businesses in both countries,” Oman News Agency reported, adding that the partnership is part of the OIA’s efforts to diversify its investment portfolio across geographies and sectors.
