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Iran, Oman moving toward era of investment cooperation: Minister

Iranian President Ebrahim Raeisi and Oman’s Sultan Haitham bin Tariq Al Said shakes hand at the Saadabad Complex in Tehran on May 28, 2023.

Iran’s finance minister Ehsan Khandouzi says a key focus of Oman’s Sultan Haitham bin Tariq Al Said’s visit to Iran is to work out a mechanism that could improve investments between the two countries.

Khandouzi made the remarks on Sunday after he signed a major memorandum of understating with his Omani counterpart on joint investment projects.

“The purpose of the agreement signed between the two countries is to move from an era of trade to an era of investment between the two countries,” Khandouzi was quoted as saying by the IRIB.

He said Iran and Oman had agreed to set up a joint committee for investment, adding that the two countries had also reached an initial understanding for a joint investment support mechanism.

Experts say an investment agreement with Oman secures new access for Iranian firms to invest in the Arab country while managers and specialists from Iranian companies will be able to work in Omani subsidiaries for several years without restrictions.

The agreement will also remove project limitations on many services and will dismantle joint venture requirements in several key sectors like manufacturing and services.

Iranian President Ebrahim Raeisi said in a meeting with Sultan Haitham and his delegation on Sunday that the two countries should seek to finalize the formation of a fund to support joint investment projects between the two countries.

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