UK and Oman Ink Sovereign Investment Partnership

The UK and Oman have signed a Memorandum of Understanding (MoU) to strengthen economic ties between the two countries by identifying and supporting commercial investments.

The new agreement, a sovereign investment partnership (SIP) signed between UK’s Minister for Investment, Lord Gerry Grimstone, and president of the Oman Investment Authority, Abdulsalam Al Murshidi, said a statement issued by Foreign Ministry of Oman.

Meanwhile, Oman’s foreign minister, Sayyid Badr Albusaidi said the SIP would focus on joint efforts on strategic investments. “We will be able to reach further fruitful and tangible outcomes, in support of our mutual desire to continue developing a dynamic and stronger partnership,” Albusaidi quoted by his office as saying.

Meanwhile, Grimstone said that the two countries share a vision for a sustainable and prosperous future.

“This SIP ensures our respective private sectors and international investors are part of that journey,” the statement added.

The UK has first signed SIP with United Arab Emirates in 2021 and with Oman is the second of its kind in the Middle East.

© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.

You have two free articles remaining.
Log in or Subscribe now for unlimited online access.