Strategic partnership signed to establish Joint Investment Fund between Oman, Azerbaijan

Muscat: The Oman Investment Authority (OIA) today signed a strategic partnership with Azerbaijan Investment Holding (AIH)—responsible for managing and developing Azerbaijan's state-owned enterprises and investments—to establish a Joint Investment Fund valued at OMR77 million, equally split between the two countries. This reflects a balanced commitment to building long-term partnerships.

The Fund targets investments in diverse sectors, including food industries, the industrial sector, renewable energy, logistics, healthcare, and the consumer sector.

It also aims to launch projects with developmental impact in both countries, contributing to income diversification and enhancing in-country value (ICV), in line with the objectives of Oman Vision 2040 to achieve a diversified and sustainable economy.

The strategic partnership was signed on the sidelines of a high-level Azerbaijani delegation's visit to the Sultanate of Oman, which was headed by Mikayil Jabbarov, Minister of Economy of Azerbaijan, and included a group of officials and businessmen.

The agreement was signed on the Omani side by Nasser Suleiman Al Harthy, Vice President for Operations at Oman Investment Authority, and on the Azerbaijani side by Ruslan Alikhanov, CEO of Azerbaijan Investment Holding.

Abdulsalam Mohammed Al Murshidi, Chairman of the Oman Investment Authority, explained that the new strategic partnership with the Republic of Azerbaijan embodies the OIA's direction toward expanding its network of foreign investments by entering into value-added, qualitative partnerships. These efforts support Oman's economic diversification goals and provide an opportunity to transfer modern technologies to local sectors.

He added that this partnership reflects the growing confidence in Oman’s role as a trusted investment partner. Through it, the OIA will continue to explore promising opportunities with international partners to maximize the developmental impact of its investments and achieve added value for the national economy.

Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan, said:“We value this deepening partnership with Oman Investment Authority, which marks a pivotal step in advancing our bilateral cooperation and reflects the growing relationship
between our two countries. This partnership embodies our shared commitment to developing impactful investments in vital sectors such as food industries and new and renewable energy. Azerbaijan-Oman shared commitment and partnership open new pathways for sustainable development, shared growth, wide-ranging opportunities for joint investment and capacity-building to help navigate the global economic shift toward sustainability”

For his part, Ruslan Alikhanov, CEO of Azerbaijan Investment Holding, stated that the creation of the joint investment fund between the OIA and AIH strengthens bilateral relations through sustainable investments and future visions that contribute to achieving lasting value for the economies of the Sultanate of Oman and the Republic of Azerbaijan.

These strategic partnerships underscore the OIA’s commitment to reinforcing its international investment network and attracting value-added opportunities. This supports the national agenda and establishes Oman’s position as a regional hub for attracting qualitative investments and an engine for sustainable economic growth. It also reflects the OIA's eagerness to build long-term alliances with global institutions that contribute to knowledge and technology transfer, supporting economic diversification through projects that enhance ICV, create job opportunities, and broaden the production base in promising sectors. This reinforces the OIA’s role as a strategic investment partner both regionally and internationally and enhances the competitiveness of the Omani economy across its various sectors.

It is worth noting that the signing of this partnership is an extension of the OIA's role in establishing joint investment funds with counterparts in Arab and foreign countries and with global companies, including the Omani-Turkish Joint Fund, in addition to partnerships with Qatar, Brunei, Uzbekistan, India, Vietnam, Spain, Pakistan, and the People’s Republic of China.