Brunei, Oman set up $100m fund
Brunei Darussalam has inked a deal with the Sultanate of Oman to create a US$100 million investment fund which will be shared between the two countries and will be based in the Omani capital of Muscat, Oman News Agency (ONA) reported.
According to ONA, the fund hopes to increase investment opportunities in both countries, particularly in the tourism, industrial and commercial sectors. The Memorandum of Understanding (MoU) for the joint investment fund was signed by both parties yesterday at the Al-Alam Palace.
Under the MoU, a joint venture company, the Oman-Brunei Investment Co will be set up to facilitate investments in infrastructure, tourism, health, telecommunications, utility and other sectors in Brunei, Oman and in neighbouring markets.
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