Oman, Jordan Agree To Establish $100M Joint Investment Company

JEDDAH: Oman and Jordan have agreed to establish a 38.5 million Omani rial ($100 million) joint investment company targeting strategic sectors including energy, mining, technology, and pharmaceuticals as both countries pursue economic diversification.

The company, jointly owned by Oman Investment Authority and Jordan’s Social Security Investment Fund, or SSIF, will invest equally across high-growth sectors, also including telecommunications, food security and medical equipment.

The announcement comes days after the World Bank approved a $700 million loan to help Jordan translate its macroeconomic stability into stronger private investment and job creation.

It also aligns with Oman’s efforts under its Vision 2040 initiative to attract investment into non-oil sectors, supported by World Bank-backed reforms to improve the country’s investment climate and expand private-sector participation.

“The initiative is expected to support economic diversification, stimulate domestic markets, and create added value by fostering the growth and integration of businesses in both countries,” Oman News Agency reported, adding that the partnership is part of the OIA’s efforts to diversify its investment portfolio across geographies and sectors.

Mulham bin Basheer Al-Jarf, deputy president for investment at OIA, said the partnership represents a significant milestone in Omani-Jordanian relations, translating the leadership’s shared vision into projects that strengthen economic cooperation, according to ONA.

Al-Jarf added that the initiative builds on a long history of collaboration and knowledge exchange while supporting investments in promising projects that generate sustainable economic and development benefits for both countries.

The Omani official noted that the partnership also reinforces the authority’s role in advancing economic diplomacy by deepening cooperation with partners across the region, directing investments toward priority sectors, and further diversifying the authority’s investment portfolio.

Ezzedine Kanakrieh, chairman of SSIF, said the agreement marks a strategic step in cooperation between the two institutions.

He said the partnership reflects a shared vision of leveraging capital and institutional expertise to develop commercially viable investments in priority sectors and is consistent with the fund’s strategy of expanding its regional and international investment presence.

“The strategic strategy serves as a tool to safeguard assets, distribute risk, build sustainable investment platforms, and support long-term economic returns and capital flows,” the news agency said.

The agreement establishes a new framework for joint investments based on governance and efficiency, following similar partnerships forged by OIA with Qatar, Turkiye, and China, as well as Uzbekistan, Vietnam, and Pakistan, in addition to Spain, Azerbaijan, India, and Brunei Darussalam, Kazakhstan, and Belarus.

The deal also underscores OIA’s commitment to strengthening the Sultanate’s position as a regional hub for high-quality investments and a driver of sustainable economic growth through long-term partnerships that promote knowledge transfer, attract capital, and enhance the competitiveness of the Omani economy across its multiple sectors, as per ONA.