ASTANA – Kazakhstan and the Sultanate of Oman have strengthened bilateral ties by signing an investment cooperation agreement and outlining plans to expand collaboration across key sectors.

Prime Minister Olzhas Bektenov and Oman’s Deputy Prime Minister for Economic Affairs, Sayyid Theyazin bin Haitham Al Said. Photo credit: primeminister.kz

During the talks on April 24, Prime Minister Olzhas Bektenov and Oman’s Deputy Prime Minister for Economic Affairs, Sayyid Theyazin bin Haitham Al Said, discussed ways to boost trade, investment, and joint projects in energy, logistics, mining, agriculture, digital technologies, and tourism. The officials confirmed a joint investment portfolio of around $3 billion, with several projects already implemented and others underway.

A key outcome was the signing of a framework agreement between Samruk Kazyna Sovereign Wealth Fund and the Oman Investment Authority to establish a joint investment platform, enabling new funds, enterprises, and co-investment mechanisms in priority sectors such as industry, healthcare, energy, and logistics, reported the Prime Minister’s press service. 

President Kassym-Jomart Tokayev also received Al Said on April 23, reaffirming Oman’s status as a reliable and long-standing partner. He expressed support for the brotherly people of Oman during the current challenging period in the Middle East. The officials highlighted growing cooperation since the establishment of diplomatic relations in 1992 and expressed readiness to deepen economic and cultural ties.

Tokayev awarded Al Said the Dostyk Order (first degree) in recognition of his contribution to strengthening bilateral relations.