Abdulsalam Al Murshidi: Co-op with Azerbaijan opens access to advanced technologies

Oman and Azerbaijan are establishing a joint $200 million private equity fund to develop key economic sectors and support diversification goals within the Oman Vision 2040, Oman Investment Authority (OIA) President Abdulsalam bin Mohammed Al Murshidi said at a signing ceremony between the Azerbaijan Investment Holding (AIH) and the OIA, Report informs referring to the OIA.

He stated that the new fund will serve as a platform for promoting high-value-added projects and stimulating investment in manufacturing, energy, logistics, and other strategic sectors.

Both parties will contribute equal shares of $100 million, bringing the fund's initial capital to $200 million. The funds will be used for investments in the food industry, manufacturing, renewable energy, logistics, healthcare, and retail.

According to Al Murshidi, the partnership with Azerbaijan is in line with Oman's strategic priorities: "This strategic partnership with the Republic of Azerbaijan reflects OIA's approach to expanding its global investment network by forming high-impact partnerships that support Oman's economic diversification goals. It also presents an opportunity to transfer advanced technologies to local sectors. This collaboration underscores the growing trust in Oman as a reliable investment partner. Through this partnership, we will continue exploring promising opportunities with international partners to enhance the developmental impact of our investments and deliver added value to the national economy."

For his part, Ruslan Alikhanov, Chief Executive Officer, Azerbaijan Investment Holding, said: "The establishment of the Joint Investment Fund between Oman Investment Authority and Azerbaijan Investment Holding reflects our shared commitment to strengthening bilateral ties through sustainable and forward-looking investments that create long-term value for the economies of the Sultanate of Oman and the Republic of Azerbaijan."

This partnership is the tenth of its kind established by OIA with peer institutions and reputable global entities, such as the Oman-Türkiye Joint Investment Fund, in addition to other collaborations with Qatar, Brunei, Uzbekistan, India, Vietnam, Spain, Pakistan, and China.