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The signing of the
establishment of the Joint Investment Fund on behalf of
His Majesty's government was done the Minister of Energy
at the Prime Minister's Office Pehin Dato Haji Mohammad
bin Haji Daud, while Ahmed Adulnabi Macki, Minister
Supervising the Ministry of Finance signed on behalf of
Oman.
Ambassador of Oman to
Brunei Sayyid Fakhrif in Mohammad bin Said Al-Said, who
was present during the meeting and the signing in Al-Alam
Palace, said the MoU would positively benefit both
countries mutually as they jointly seek investment
opportunities not only in the confines of Oman and
Brunei, but also outside.
"This would also test
the skills and expertise of both countries in seeking
potential investment opportunities and enhance
cooperation by helping each other towards utilising the
nation's capital investment fund for the benefit of the
nation's economy," said the ambassador in an interview
with the Borneo Bulletin.
The execution of the
MoU is at its initial stage where both parties are just
starting to discuss on the best areas for investment and
also allocation of funds.
As the economies of
both countries thrive on oil and gas production and
export, the Joint Investment Fund will fulfil the
countries' aspirations to diversify their economies away
from oil and gas, the ambassador added.
Apart from that, both
countries are also focusing on enhancing cooperation in
the area of education and also to encourage Brunei
businesses to invest in Oman and vice versa.
The ambassador said His
Majesty's two-day State Visit to the Sultanate reflects
the progressive diplomatic ties since the opening of the
Oman's Embassy in Brunei in 1986.
Brunei and Oman have
entered various cooperative agreements and MoUs since
they forged diplomatic relations in 1984, which include
the MoU on Cooperation in Islamic Affairs in 1996, on
Trade and Commerce in 1997, an Agreement on Promotion
and Reciprocal Protection of Foreign Investment in 1998,
visa exemption agreement for stays not longer than 30
days in 2001, MoU to increase education ties in 2007,
Agreement on the Avoidance of Double Taxation in 2008
and lastly, an MoU to improve cooperation in health care
in February 2009.
In the years to come,
both Sultanates will seek cooperation in a wider range
of issues, noted the ambassador and expressed his
appreciation for His Majesty's State Visit. --
Courtesy of Borneo Bulletin
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