UAE’s ADQ, Oman’s OIA identify investment opportunities worth Dhs30bn

Abu Dhabi-based investment and holding company, ADQ has had discussions with the Oman Investment Authority (OIA) to jointly explore investment opportunities. These talks were held on the sidelines of the UAE President Sheikh Mohamed bin Zayed Al Nahyan’s visit to Oman.

ADQ and OIA recently entered into a Dhs10bn partnership agreement to facilitate investments between the UAE and Oman in sectors of mutual priority and interest.

Additionally, ADQ and Oman Information, Communication and Technology Group (ITHCA), a wholly owned subsidiary of the OIA, has signed an MoU to establish an Dhs592m venture capital fund to invest in high growth technology companies in Oman.

The parties also identified preliminary investments to be assessed further that are worth over Dhs30bn in new projects within Oman across target sectors including hydrogen, solar and wind, green aluminum and steel, as well as water and electricity transmission lines.

On the sidelines of the UAE President’s visit to Oman, and building on a AED10bn agreement to facilitate investments between the UAE and Oman, ADQ and @Oman_OIA have identified preliminary investments across a variety of sectors, worth more than AED30bn, to be further assessed. pic.twitter.com/CGyMpEfXhj

— مكتب أبوظبي الإعلامي (@admediaoffice) September 28, 2022

ADQ is also exploring investment in other sectors that include, but are not limited to food and agriculture, logistics, technology, and healthcare. This is in line with ADQ’s ambitions to expand its power, water, and industrial platforms throughout Oman to capture synergies that achieve long-term and sustainable value creation for both nations.

Mohamed Hassan Alsuwaidi, MD and CEO at ADQ, said: “As part of the UAE’s longstanding bilateral relationship with Oman, we discussed several potential strategic opportunities that can unlock significant synergies and value through joint collaboration across key industries in the Sultanate. Today’s engagement builds on our recent efforts and commitment to develop tangible investment partnerships in key markets, such as Oman, that complement our investment strategy and growth aspirations. We are confident that this visit reinforces the significant economic potential of ADQ’s partnership with OIA.”

Abdulsalam Al Murshidi, president of Oman Investment Authority (OIA), said: “Our partnership with a like-minded institution, such as ADQ, showcases our shared commitment to building long-term sustainable relationships. Our discussions today will not only create a platform to enable us to explore mutually beneficial co-investment opportunities, but facilitate knowledge sharing to strengthen our respective organisations’ investment platforms.”