Oman, Japan sign bilateral promotion of investment accord
Date
6/23/2015 7:03:20 AM
(MENAFN) The Sultanate of Oman and Japan signed an agreement to boost the two-ways protection and Promotion of joint investments, according to the Ministry of Foreign Affairs of Japan, Times of Oman reported.
The new agreement is set to protect and help in maintaining current investments between the two parties, the statement issued by the Ministry added.
Some of the measures that the agreement identified "for joint investments- are observance of undertaking, free transfer facilities, conditions for expropriation and compensation and procedures for dispute settlements.
"Interest for investing in Oman has been rising among Japanese companies, given its rich reserves of oil and natural gas and ongoing large-scale infrastructure projects in the Sultanate," the statement added.
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