Oman and India boost ties with $100m investment fund

Officials from two countries to sign new deal Monday, collaboration areas to include education, vocational training
Oman and India boost ties with $100m investment fund
INVESTMENT OPPORTUNITIES: Oman and India are expected to sign an agreement to boost investment opportunities and transfer technologies between the two countries (ITP Images)
By Claire Ferris-Lay
Mon 13 Dec 2010 10:42 AM

Officials from Oman and India are on Monday expected to sign an agreement to boost investment opportunities and transfer technology between the two countries, it has been reported.

The agreement, which includes a $100m investment fund as well a series of areas indentified for mutual cooperation, will be signed by Mohammed bin Al Zubair, adviser to HH the Sultan on economic planning affairs, and India's deputy chairman of planning commission, Montek Singh Ahluwalia, according to the Times of Oman.

The two officials have been working to boost cooperation between the two countries since 2008. Areas for collaboration include education, information technology, vocational training, food processing and hospitality, the report said.

Bilateral trade between Oman and India is expected to reach $2.5bn this year, up from $2bn in 2009, according to government data.

Oman was one of the first countries to form a joint investment fund with India, which is set to rise from $100m to $1.5bn.

 

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