Hanoi: Prime Minister Pham Minh Chinh proposed Oman raise the scale of the Vietnam-Oman Investment (VOI) Fund to 1 billion USD while receiving Sheikh Nasser bin Suliman Al Harthi, Deputy President for Operations of Oman Investment Authority (OIA) in Hanoi on May 29.

According to Vietnam News Agency, the Prime Minister emphasized the importance of strengthening the economic and investment ties between Vietnam and Oman. The meeting highlighted the potential for increased collaboration and investment opportunities that could benefit both nations. The proposal to expand the VOI Fund is seen as a strategic move to enhance the economic partnership and leverage mutual benefits.

The Vietnam-Oman Investment Fund, a joint initiative between the two countries, aims to support and finance projects across various sectors in Vietnam. The fund has been instrumental in promoting economic growth and development through strategic investments. The suggested increase in the fund’s scale is expected to bolster this initiative and enable larger and more impactful projects.

The meeting between Prime Minister Chinh and Sheikh Al Harthi also touched upon other areas of cooperation, reflecting a shared commitment to furthering bilateral relations. Both parties expressed optimism about the benefits of an expanded investment fund and underscored the importance of such collaborations for sustainable economic development.