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Oman Investment Authority launches $5.2bln Future Fund Oman

The Oman Investment Authority (OIA) has announced the establishment of the ‘Future Fund Oman,’ boasting a substantial capital of $5.2 billion.

Oman

The Oman Investment Authority (OIA) has announced the establishment of the ‘Future Fund Oman,’ boasting a substantial capital of $5.2 billion. This sizable fund is earmarked for deployment over the next five years, with an annual allocation of $1 billion.

With a strategic focus on bolstering economic growth and development within Oman, the Future Fund Oman is set to allocate 90% of its capital to directly invest in commercially viable large-scale projects, both new ventures and existing initiatives situated within the Sultanate.

Furthermore, the fund aims to allocate 7% of its capital towards supporting small and medium-sized enterprises (SMEs), crucial engines of economic vitality. Additionally, 3% of the fund’s resources are earmarked for investment in startups, reflecting a commitment to fostering innovation and entrepreneurship.

In a statement released on Wednesday, the Oman Investment Authority underscored the Future Fund Oman’s role as a catalyst for economic diversification. Central to its mandate is the empowerment of the private sector, attraction of foreign direct investment (FDI), support for SMEs, and the promotion of venture capital initiatives.

An S&P report from the previous year highlighted Oman’s economic reliance on the oil sector, which contributes approximately 30% to the GDP, 60% to goods exports, and 70% to government fiscal receipts. Projections from the agency suggest that increased hydrocarbon production anticipated in 2024 and 2025 will provide vital support to the nation’s economy.

Oman Investment Authority

Established in 2020, the Oman Investment Authority serves as a key entity for the management of the government’s financial assets and public enterprises. Oman Investment Authority (OIA) also focuses on fostering economic growth and development initiatives. By strategically investing in various sectors, the OIA aims to stimulate job creation, promote innovation, and drive sustainable economic expansion. Furthermore, the OIA collaborates with domestic and international partners to identify investment opportunities that align with Oman’s long-term economic objectives. Through its prudent financial management and strategic vision, the OIA plays a crucial role in advancing Oman’s economic prosperity and resilience.

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