Oman and China have signed investment deals worth billions of dollars at a business forum. The agreements include twenty-three memorandums, contracts, and strategic partnerships.
The event took place at the headquarters of the Bank of China. The deals cover renewable energy, joint investment funds, mining, digital transformation, logistics, and space technology.
Several Omani entities reached agreements with Chinese institutions during the state visit of Sultan Haitham bin Tarik to China. The Oman Investment Authority was among the participants.
Bilateral trade between the two nations reached $36.73 billion in 2024. Chinese imports from Oman accounted for $30.93 billion of that total, according to the Chinese Foreign Ministry.
Abdulsalam bin Mohammed Al Murshidi, president of the Oman Investment Authority, spoke about the visit. He said the journey represents a key step for the economic partnership between the two countries, according to the Oman News Agency.
Al Murshidi said the visit gives the authority broader opportunities to turn bilateral relations into projects serving shared interests. The authority signed a preliminary term sheet with the Silk Road Fund to establish an $800 million joint fund. Most of this investment is intended for Oman.
A second fund worth $300 million will be equally financed with the China Merchants Bank. This builds on a 2019 partnership focused on Chinese technology.
Other financial agreements include a $200 million fund with IDG Capital and a $200 million Oman-focused fund with Templewater. The Templewater agreement is part of a wider $260 million partnership.
Another $250 million fund was agreed with eWTP Arabia Capital. This partnership totals approximately $275 million, including a regional fund allocation for investment in Oman.
Minerals Development Oman signed a 10-year mining services contract worth $418.7 million. The agreement with Hongda International targets the Mazoon Copper and Gold Project in Yanqul.
Tech giant Huawei will cooperate with Omantel and the Ministry of Transport, Communications and Information Technology. The collaboration involves Ascend neural processing units.
The Space Silk Road program includes a first phase of seven satellites. Plans also feature a satellite assembly, integration, and testing facility in Oman.
Asyad Group and JD.com will develop three distribution warehouses. These will be located in the Muscat International Airport Free Zone, Khazaen Economic City, and Sohar Free Zone.
Sohar International signed a memorandum of understanding with Shanghai Pudong Development Bank. The pact covers co-financing and debt capital markets.
