Private investors in Oman plan to set up a fund company with $100 million in capital that would take stakes in Omani government projects abroad, the president of Oman's Chamber of Commerce said on Thursday.
"The aim is to open up employment and increase liquidity in the private sector," Khalil Al-Khonji said, without giving details on what types of investments the fund would make.
"This private firm will invest in government-owned projects abroad," he said.
Among investments held by Oman abroad are a 49 percent stake in Pakistan's Orient Power Co Ltd and 30 percent stake in Qingdao Lidong Chemical of China.
About 7,000 young Omanis look for jobs every year and only 60 percent of them find employment, said an official at Oman's manpower ministry who declined to be identified. - Reuters