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Algeria and Oman Establish Joint Investment Fund to Boost Economic Ties

Algeria and the Sultanate of Oman have announced the creation of a joint investment fund, according to a joint declaration made public by the Presidency of the Republic on Wednesday. This announcement came at the end of a three-day state visit by Algerian President Abdelmadjid Tebboune to Oman.

This fund will enable the development of partnerships and projects in key sectors such as renewable energy, petrochemicals, Saharan agriculture, technology, and tourism, among other promising areas.

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Both countries also emphasized “the importance of strengthening cooperation in the private sector and promoting trade and industry to boost national exports, thereby facilitating their access to regional and global markets.”

Additionally, President Tebboune and His Majesty the Sultan of Oman hailed the signing of eight memorandums of understanding in various fields, including investment promotion, organizing exhibitions and events, education, higher education, environment and sustainable development, financial services, employment and training, as well as media.

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