Mongolia to Cooperate with Sultanate of Oman on Sovereign Wealth Fund and Investment

On August 4, Prime Minister of Mongolia G.Zandanshatar met with Abdulsalam Al-Murshidi, President of the Oman Investment Authority, to discuss opportunities for cooperation in the areas of investment and sovereign wealth fund development.

Prime Minister G.Zandanshatar noted the positive development of bilateral relations in recent years and expressed Mongolia’s commitment to enhancing mutually beneficial cooperation with Oman in trade, investment, mining, agriculture, and the broader economy. He introduced Mongolia’s National Sovereign Wealth Fund and proposed studying Oman’s best practices in wealth fund management, with a view to establishing a cooperative partnership.

The Oman Investment Authority, Oman’s sovereign wealth fund, plays a central role in managing and investing the country’s oil and gas revenues. During the meeting, both sides highlighted the value of Oman’s experience in building a sovereign wealth fund aligned with international standards, and agreed to initiate cooperation to support the development of Mongolia’s fund.

The two sides also exchanged views on expanding investment ties between the two countries. Prime Minister G.Zandanshatar emphasized Mongolia’s vast territory, rich natural resources, and renewable energy potential, positioning the country as a promising partner for foreign investment. He also outlined the government’s policies to attract foreign investment, particularly in mineral exploration, as part of its strategy to diversify and grow the national economy.

Mr. Al-Murshidi presented the Oman Investment Authority’s mission and priorities and expressed readiness to implement joint projects and programs with Mongolia, particularly in the mining, agriculture, and renewable energy sectors.

Source: Government of Mongolia