Amman, Jordan — In a major move to strengthen bilateral economic ties, the Oman Investment Authority (OIA) has signed a strategic partnership agreement with Jordan’s Social Security Investment Fund (SSIF). The agreement, valued at OMR 38.5 million, marks the beginning of a new phase of joint investments targeting several vital and promising sectors in both countries.
The signing took place on the sidelines of the Omani-Jordanian joint committee meetings, reflecting a mutual commitment to expand economic cooperation, stimulate trade flows, and encourage integration between the business communities of the two nations.
Targeting Vital and Promising Sectors
The joint investment framework will target key growth areas that are vital to the national development plans of both countries. Specifically, the agreement focuses on:
- Agricultural and Food Technology: Enhancing food security through advanced farming techniques and modern agricultural processing.
- Mining and Mineral Resources: Exploring and developing raw materials to support industrial growth and diversification.
- Logistics and Energy: Optimizing supply chains and supporting clean energy initiatives.
These target sectors align directly with the strategic priorities of Oman Vision 2040, which emphasizes economic diversification, innovation, and the expansion of the non-oil economy.
Strengthening Regional Investment Portfolios
Commenting on the partnership, Dr. Ezzedine Kanakrieh, Chairman of the Social Security Investment Fund in Jordan, stated that this agreement represents a strategic step forward in utilizing shared investment opportunities. He noted that the partnership combines SSIF’s local expertise with OIA’s international investment capabilities to build a resilient joint portfolio.
This initiative builds upon OIA’s successful track record of establishing bilateral investment partnerships. Similar joint ventures and funds have been established with countries such as Pakistan, Uzbekistan, Azerbaijan, India, Brunei, and Kazakhstan. These platforms serve a dual purpose: securing long-term financial returns for the Sultanate and creating strategic pathways for technology transfer and local market development.
