Oman, Mongolia explore cooperation opportunities in investment sectors
During the meeting, the Mongolian Prime Minister expressed keenness to enhance cooperation with Oman. He emphasised his country's interest in building a practical partnership based on mutual benefit and facilitating investment in priority sectors.
For his part, the Chairman of the Oman Investment Authority underscored the importance of developing bilateral cooperation in investment and all other areas of mutual interest.
The Omani delegation also held a series of official meetings with several Mongolian government officials. These included Damdinnyam Gongor, Minister of Industry and Mineral Resources and Batkhuu Idesh, Secretary-General of the Ministry of Economy and Development.
The delegation also held meetings with the Advisor and Head of the Deputy Prime Minister's Office; the Director General of the Investment and Trade Agency; and the Advisor to the Minister of Food, Agriculture, and Light Industry.
The meetings focused on exploring cooperation opportunities in the mining, energy, agriculture, and food industries sectors. They also discussed ways to develop joint projects, enhance trade exchange, and create an attractive environment for long-term investments.
Both sides expressed interest in intensifying technical dialogue in the coming phase as a prelude to establishing executive frameworks for bilateral cooperation.
The official visit reflected the mutual desire of Oman and Mongolia to build a diverse and sustainable strategic partnership. The relations between the two countries have great potential for cooperation that can be leveraged in various fields to serve their respective economic and developmental interests.
The meetings were attended by Sheikh Abdulaziz Abdullah Al Hinai, Ambassador-at-Large at the Foreign Ministry, and several officials from both sides.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
5 hours ago
- Times of Oman
Oman, Mongolia explore opportunities for establishing partnerships in vital sectors
Ulaanbaatar: Abdulsalam Mohammed Al Murshidi, Chairman of Oman Investment Authority (OIA), on Tuesday held a meeting in Ulaanbaatar with Battsetseg Batmunkh, Minister of Foreign Affairs of Mongolia. During the meeting, Al Murshidi and Batmunkh affirmed the depth of relations between the Sultanate of Oman and the Republic of Mongolia. They discussed ways to enhance bilateral cooperation, notably in economic and investment fields. The meeting also touched on opportunities for establishing partnerships in vital sectors. The two sides exchanged views about appropriate mechanisms for improving coordination and expanding cooperation in the near future.
Times of Oman
5 hours ago
- Times of Oman
India is on track to gain bigger share in global output: Morgan Stanley
New Delhi: India is set to play a bigger role in the global economy over the coming decades, noted a recent report by Morgan Stanley. The report says with the expectation of India's credit to GDP rising and manufacturing gaining a bigger share in GDP, country's role in global economy will significantly go up. The report said that India is on track to gain more share in global output in the coming years due to a mix of strong foundational factors. These include robust population growth, a functioning democracy, stable macroeconomic policies, improved infrastructure, a rising entrepreneurial class, and better social outcomes. It stated "India will become the world's most sought-after consumer market, it will undergo a major energy transition, credit to GDP will rise and manufacturing could gain share in GDP". The report also noted that these strengths will help India become the world's most sought-after consumer market. In addition, the country is expected to undergo a major energy transition and experience stronger growth in credit and manufacturing sectors. The report added that the falling intensity of oil in India's GDP and a rising share of exports, especially services, will support fiscal consolidation. The government is likely to achieve a primary surplus within three years. This, along with reduced saving imbalance, could lead to structurally lower real interest rates. The report said this combination of high growth, low volatility, and falling interest rates supports higher price-to-earnings (P/E) ratios in the equity market. It highlighted that Indian households are shifting their investments towards equities, and this trend is expected to continue. The improved macroeconomic stability and changes in household balance sheets are supporting the sustained demand in the stock market. It also noted that even though stocks have de-rated compared to long bonds and gold, India is steadily gaining a bigger share in global GDP. The report stated that the soft earnings growth phase, which began in the second quarter of FY2025, seems to be ending. However, the market is still cautious. Despite foreign portfolio investor (FPI) positioning being at its weakest level since data began in 2000, Morgan Stanley said it remains confident in India's long-term prospects. It added that India's low beta implies it could perform well during a global bear market but may underperform during a global bull run. However, the report also warned about downside risks such as slowing global growth, worsening geopolitics, rising oil prices, and continued supply chain disruptions, especially in areas like rare earth materials and fertilizers.
Times of Oman
9 hours ago
- Times of Oman
Trump unwilling to criticize China even after being largest Russian oil buyers, targets India unfairly: GTRI report
New Delhi: US President Donald Trump has been unfairly targeting India over Russian oil imports, while choosing not to criticise China, according to a recent report by the Global Trade Research Initiative (GTRI). The report suggested that this selective approach may be driven by geopolitical calculations. As per the data from the report, China is the largest buyer of Russian oil. In 2024, China imported USD 62.6 billion worth of Russian oil, compared to India's USD 52.7 billion. Despite this, Trump has focused his criticism on India, ignoring China's bigger role. GTRI stated, "Trump appears unwilling to criticize China, perhaps because of geopolitical calculations, and instead targets India unfairly". The report also rejects Trump's recent claim posted on Truth Social, where he alleged that India is "buying massive amounts of Russian oil and selling it on the open market for big profits." GTRI clarified that this statement is factually incorrect and misleading. The think tank explained that India does not export crude oil, Russian or otherwise. India is a net importer of crude oil, and its total crude oil exports stand at zero. What India does export are refined petroleum products, including diesel and jet fuel, some of which are processed from Russian crude. This is standard practice among energy-importing countries, the report said. GTRI further stated that India's oil refineries, both public and private, operate independently in deciding where to source crude oil from. These companies do not need government permission to buy oil from Russia or any other country. Their decisions are based on commercial considerations, including price, supply reliability, and rules in export destinations. The report noted that if Indian refiners find that importing Russian crude involves risks, such as secondary sanctions or restricted access to global markets, they may reduce or stop such imports voluntarily. For example, India exported diesel and aviation turbine fuel (ATF) to the European Union in FY2025, but these exports will now stop due to the EU's ban on products refined from Russian crude. In such cases, refiners will shift away from Russian oil without needing a government order. This trend is already visible. In May 2025, India's imports from Russia declined by 9.8 per cent, amounting to USD 9.2 billion, compared to imports in May 2024. The GTRI report concluded that India is being unfairly targeted, while China's larger role goes unquestioned, possibly due to broader geopolitical interests.
