The Sultanate of Oman and the United Republic of Tanzania have set up a joint investment fund to focus on building new opportunities to bolster both economies as per a new revelation by His Excellency Sayyid Badr Bin Hamad Al Busaidi.

The new mutual investment fund will reportedly aim to invest in fields across several sectors; including agriculture, fishing and mining, and more.

This was revealed on the heels of the Tanzanian President Samia Suluhu Hassan’s three-day official visit to Oman.

The trip also paved the way for talks to explore the strong bilateral relations binding the two countries and find new ways of elevating them towards broader horizons to realize the aspirations of the Omani and Tanzanian citizens.

The two friendly nations also signed six memoranda of understanding (MoU) within the framework of the official visit that oversees the fields of energy, tourism, natural resources, higher education and training, and national museums.