Oman signs four investment, education and metrology agreements with Kuwait

Agreement signed to promote existing and future investments in key sectors between Oman and Kuwait

The Sultanate of Oman and the State of Kuwait recently signed four memorandums of understanding (MoUs) covering a variety of areas including direct investment, metrological activities, and diplomatic research and training. The Oman Investment Authority (OIA) and the Kuwait Investment Authority signed the agreement at the Kuwait Chamber of Commerce and Industry during the visit of Oman’s Sultan Haitham bin Tariq to Kuwait.

Promote direct investment

In the areas of direct investment and standardization, Oman’s Ministry of Commerce, Industry and Investment Promotion signed two agreements. The ministry signed the first agreement with the Kuwait Direct Investment Promotion Authority to establish a direct investment cooperation framework. Furthermore, the agreement aims to facilitate the exchange of knowledge and experience between the two entities.

The ministry signed a second agreement in the field of standardization with the Kuwait Industrial Public Authority. The agreement aims to promote cooperation between Oman and Kuwait in standardization, quality, laboratory and conformity assessment measures. In addition, it seeks to improve the quality of non-food industrial products and services between the two countries.

Strengthen joint investment

In addition, the Interior Office and the Kuwait Investment Authority reached an agreement to establish a joint investment cooperation and coordination structure between the two countries. The agreement paves the way for discussions on existing and future investment opportunities in Oman and Kuwait in the fields of energy, utilities, infrastructure, communications, transport and logistics services. The two parties also discussed the possibility of establishing a joint investment fund.

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Diplomatic Studies Modernization

During the meeting, the Ministry of Foreign Affairs of Oman and the Ministry of Foreign Affairs of Kuwait signed an agreement to develop and modernize the field of diplomatic research and training. The agreement aims to improve training methods for experts in foreign policy, international relations, political science and other related fields. In addition, it facilitates the exchange of documents, research and experiences on topics of mutual interest.

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