Oman and China Sign 23 Strategic Investment Partnerships Worth Billions

Oman and China executed 23 strategic commercial agreements and investment partnerships worth several billion US dollars at the Bank of China headquarters in Beijing. The signings took place during the Oman-China Investment Partnership Horizons Forum in the presence of His Majesty Sultan Haitham bin Tarik during his state visit. The pacts include 14 government cooperation protocols and memoranda of understanding covering artificial intelligence, green industry transition, data infrastructure, and bilateral supply chains.

The agreements feature the establishment of two joint investment funds capitalized at a combined 1.1 billion US dollars. A preliminary agreement between the Oman Investment Authority (OIA) and China's Silk Road Fund will establish a fund worth RO307.6 million, mainly for investment in Oman with the remainder directed toward China and emerging markets. Additionally, OIA and China Merchants Bank signed an agreement for an RO115.35 million fund with equal contributions from both parties to invest in China's technology sector.

Industrial and energy partnerships include an RO38.45 million agreement between BCG and Hoi Mills to develop Omani solar projects and a regional solar transformer plant, while Nama Holding and State Grid International Development agreed to assess two 500MW battery storage systems at Duqm and Ibri. In mining, Minerals Development Oman awarded Hongda International an RO161 million, ten-year contract for the Mazoon Copper and Gold Project in Yanqul.

In logistics and technology, Asyad Group and JD.com agreed to explore developing three distribution warehouses across Muscat International Airport Free Zone, Khazaen Economic City, and Sohar Free Zone to connect Gulf and East African markets. Space agreements between Oman Lens and Star Vision Aerospace involve satellite development, an assembly and testing centre, an AI lab, and academic scholarships, alongside digital transformation cooperation involving Omantel, Oman's Ministry of Transport, Communications and Information Technology, WPS, and Huawei.