Oman, Tanzaina Set up Joint Investment Fund

Tanzanian President Samia Suluhu Hassan attends the signing of several MoUs on Monday, June 13, 2022. (Oman News Agency)
Tanzanian President Samia Suluhu Hassan attends the signing of several MoUs on Monday, June 13, 2022. (Oman News Agency)
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Oman, Tanzaina Set up Joint Investment Fund

Tanzanian President Samia Suluhu Hassan attends the signing of several MoUs on Monday, June 13, 2022. (Oman News Agency)
Tanzanian President Samia Suluhu Hassan attends the signing of several MoUs on Monday, June 13, 2022. (Oman News Agency)

Oman and Tanzania have set up a mutual investment fund that aims to invest in several sectors, including agriculture, fishing and mining, the Sultanate's Foreign Minister, Badr al-Busaidi, announced on Monday.

Busaidi expected the volume of bilateral trade exchange to increase in the future as both countries have signed several memoranda of understanding in the fields of economy, investment, tourism and energy.

Oman and Tanzania signed on Monday six MoUs, covering the fields of energy, tourism, natural resources, higher education and vocational training, as well as national museums.

The MoUs were signed on the sidelines of President Samia Suluhu Hassan’s current visit to Oman.

A trilateral MoU was also signed between the Oman Chamber of Commerce and Industry (OCCI), the Tanzanian Chamber of Commerce, Industry and Agriculture (TCCIA) and the Zanzibar National Chamber of Commerce (ZNCC).

Private sector MoUs were also signed between the Oman Airports Management Company and Kilimanjaro International Airport, the Oman Society for Petroleum Services (OPAL) and the Association of Tanzania Oil and Gas Service Providers (ATOGS), the Al Bashayer Meat Company and the National Company for Live Animals and between the Oman Food Investment Holding Company (OFIC) and the Tanzanian Horticultural Association.

A deal was also signed between the Oman Investment Authority (OIA) and the Zanzibar Investment Promotion Authority (ZIPA).

It aims to bolster bilateral investments and financial sustainability and develop a strategy to boost the historical and economic ties between the two countries.

Hassan held talks with male and female entrepreneurs from both countries to discuss ways to bolster economic and investment cooperation and increase trade exchange.

This came on the sidelines of the Omani-Tanzania Business Forum, which was organized by the OCCI on Monday.

She underscored the importance of exerting efforts from both sides to increase the volume of trade exchange and investment and urged Omani businessmen and women to invest in the fields of agriculture, minerals, tourism and fisheries.



Port of NEOM Strengthens Role in Global Supply Chain Connectivity

By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030 - SPA
By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030 - SPA
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Port of NEOM Strengthens Role in Global Supply Chain Connectivity

By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030 - SPA
By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030 - SPA

Port of NEOM has marked a major milestone with the arrival of the first fully automated, remote-controlled Ship-To-Shore (STS) and Electric Rubber-Tyred Gantry (eRTG) cranes in the Kingdom, advancing its goal to become a global hub for smart, sustainable trade, SPA reported.

Strategically located on the Red Sea, Port of NEOM is already serving as a critical gateway on the East-West trade route. The newly arrived state-of-the-art cranes will play a critical role in the port’s automation strategy, unlocking the potential for high-volume, high-efficiency operations.

Development of Port of NEOM continues at a pace ahead of the 2026 opening of Terminal 1, a next-generation container terminal, with recent infrastructure milestones including the completion of a 900-meter quay wall and the deepening of the port channel to 18.5 meters—enabling the world’s largest vessels transiting the Suez Canal to call at Port of NEOM.

Terminal 1 will also feature horizontal transport automation as part of its broader goal to achieve full automation. Once operational, these technologies will significantly expand the port’s logistics capacity, driving regional industrial growth, opening access to global markets, enhancing supply chain resilience, and unlocking business opportunities.

Port of NEOM Managing Director Sean Kelly said: “The arrival of our first automated cranes marks a tangible milestone as we lay the foundations for an advanced, future-ready port. We are not only accelerating industrial growth in northwest Saudi Arabia, but we are also setting a new benchmark for performance, efficiency, innovation and establishing a vital trade gateway for the Kingdom and the region beyond.”

In parallel with its investments in infrastructure and automation, Port of NEOM is also committed to developing local talent, including training Saudi women to take on high-tech roles. Central to this effort is a pioneering initiative to train the next generation of production specialists in remote crane operation skills, thereby helping to shape a more inclusive future for the logistics and industrial sectors.

By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030.