Minister of National Economy and Deputy Chairman of the Financial Affairs and Energy Resources Ahmed bin Abdul Nabi Makki tomorrow ‘s visit to India to sign the final agreement with the Indian Oman Investment Fund – worth 5.1 billion dollars.
An official source in Oman to Kuwait News Agency (KUNA) , who preferred anonymity said that the Fund will provide support for bilateral trade and joint investment between the two countries , pointing out that the agreement would help both countries to ensure the financing of a number of projects.
He added that the Sultanate will be the first Gulf country to sign a joint investment fund agreement with India and will have a significant economic Mrod between the two countries during the coming years.
The agreement was reached during the visit of Indian Prime Minister of the Sultanate in 2008 where they signed a memorandum of understanding between the two countries to be an initial capital fund of 100 million dollars.
The Fund would be managed by the Reserve Fund of the Sultanate is the investment arm of the Sultanate and the Bank ( State of India).
India is one of the top trading partners of the Sultanate , where the volume of trade exchange between them 5.2 billion dollars