Kazakhstan, Oman sign agreement to accelerate bilateral investment

The talks focused on advancing trade, economic, and investment cooperation, with an emphasis on strengthening ties in energy, transport, mining, metallurgy, digital sectors, agriculture, and tourism.

The joint investment portfolio between Kazakhstan and Oman comprises five major projects totaling 3 billion US dollars. While two projects worth 1.1 billion US dollars have already been realized in the energy and railway sectors, mining projects are currently being developed.

During the talks, the sides highlighted a shared commitment to strengthening trade and economic ties, focusing on joint projects designed to drive innovation and modernization in the oil, gas, and mining industries.

Building on Kazakhstan’s advancements in the Trans-Caspian International Transport Route (TITR), both nations have found common ground in logistics. Mutual trade is being accelerated by collaborative measures, such as developing joint industrial projects, sharing agricultural technology, and securing long-term agricultural supply contracts.

Key growth areas include implementing AI and GovTech projects, combined with a shared effort to advance ecotourism, the hospitality and service business, and the promotion of cultural and natural landmarks, and so on.

Both sides confirmed their dedication to deepening partnership between Kazakhstan and Oman across all key sectors.

In the presence of Kazakh Prime Minister Olzhas Bektenov and Omani Deputy Prime Minister for Economic Affairs Theyazin bin Haitham Al Said, a Heads of Terms agreement for investment cooperation was reached between Samruk-Kazyna and the Oman Investment Authority.

This document defines the framework for establishing a joint investment platform, creating new Kazakhstani-Omani entities, investment funds, and other co-investment mechanisms, to be managed on an equal basis.

The agreement fuels investment in priority sectors like industry, energy, logistics, and health, mining and others across Kazakhstan and Oman, to support new projects as well as expand existing ones in both countries.

Earlier, Qazinform reported Kazakhstan and Oman seek to strengthen bilateral ties.