Iran, Oman to Establish Joint Investment Fund Supporting Industrial Growth
At a trade conference in Muscat, Iran’s Chamber of Commerce head presented a roadmap to boost bilateral ties via joint investment, infrastructure, and private sector collaboration.
Oman, PUREWILAYAH.COM - Samad Hassanzadeh, President of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), has proposed the creation of a joint Iran-Oman investment fund to support industrial projects in both countries.
The proposal was made during a meeting with Oman’s Minister of Commerce, Industry, and Investment Promotion, Qais Mohammed Al Yousef, as part of an Iranian trade delegation’s official visit to Muscat.
Hassanzadeh expressed optimism about the growing economic relationship, noting that bilateral trade has already surpassed $2 billion and has strong potential to grow further.
Banking and Trade: Removing Financial Barriers
Hassanzadeh emphasized the need for streamlined banking relations between Iran and Oman to facilitate private sector cooperation.
He recommended establishing authorized exchange services approved by both central banks and implementing a barter trade mechanism to ease financial transactions amid international sanctions.
He also highlighted the potential for Omani and Iranian companies to cooperate in supplying industrial goods to Iran and to re-export Iranian products to African and East Asian markets via Oman.
Institutional Cooperation and Joint Industrial Committees
To deepen bilateral cooperation, Hassanzadeh proposed the formation of a bilateral industrial and investment committee involving the ministries of industry and trade as well as the chambers of commerce from both countries.
He stressed the importance of leveraging Iran’s skilled workforce, industrial capabilities, and knowledge-based enterprises to create mutual value.
Strategic Joint Investment Opportunities
Among the proposed projects for joint investment:
North-South International Corridor in Iran: A strategic initiative for rail and road transit to Central Asia, Eastern and Northern Europe
Coastal development in Makran, Jask, and Chabahar: Aimed at creating major transportation and trade hubs for Eurasian and Caucasian markets
Hassanzadeh stated that Iran’s private sector is keen to co-invest with Omani partners in sectors including petrochemicals, tourism and hotel construction, power generation, transportation, fisheries, and agriculture.
Iranian Private Sector Offers Engineering and Infrastructure Support
The ICCIMA chief affirmed that Iranian companies are fully prepared to collaborate in modernizing Oman’s industrial and mining infrastructure, and in providing technical and engineering services for construction, road building, and other civil development projects.
He also pointed to opportunities in industrial plant construction, irrigation systems, and export of processed agricultural products through joint Iran-Oman ventures.
Oman Welcomes Cooperation and Proposes Knowledge Exchange
Omani Minister Qais Mohammed Al Yousef welcomed the Iranian proposals and expressed appreciation for the ongoing efforts of both countries’ chambers of commerce. He noted that 18 cooperation agreements were signed during the recent state visit of Iranian President Masoud Pezeshkian, including a Preferential Trade Agreement that is expected to elevate bilateral trade relations.
Al Yousef urged that future trade delegations become more specialized and agile, and called for the creation of a joint digital platform to display trade data, tenders, and investment opportunities, including sectors such as health tourism and education.
Boosting Health and Education Ties
The Omani minister proposed that instead of Omani citizens traveling abroad for medical treatment and education, Iran’s top universities and hospitals open branches in Oman. This would allow elite Iranian doctors and academics to serve Omani communities locally, further strengthening people-to-people ties.
Oman also expressed readiness for its knowledge-based companies to cooperate with their Iranian counterparts, providing both experience-sharing and support for joint innovation projects.
The proposals discussed in Muscat reflect a strategic shift toward long-term Iran-Oman economic integration, with mutual investment, infrastructure collaboration, and private sector engagement at the core.
Both sides signaled clear intent to move forward swiftly in identifying and implementing viable projects—turning shared vision into concrete, sustainable outcomes across multiple sectors. (PW)
Source: tahlilbazaar.com