Oman Investment Authority presents priorities

28/07/22

Oman Investment Authority (OIA) operated businesses will invest OMR 6.7 billion (USD 17.4 billion) in projects over the next five years.

The sovereign wealth fund anticipates returns of OMR 2.6 billion (USD 6.8 billion) during this period. It seeks to achieve the priorities of Oman’s Vision 2040 by focussing on economic diversification, empowering the private sector, attracting foreign investments and financial sustainability.

The authority recently announced its new structure that will see assets split between the National Development Portfolio and the Future Generations Fund. It also presented its priorities for the National Development Portfolio.

These include driving financial sustainability and profitability through new initiatives in the tourism, agriculture, fisheries and technology sectors. Similarly, targeting growth and increasing the gross domestic product (GDP) by investing in the country using 30% for new projects.

In addition, it intends to drive private sector investment, notably by restructuring existing investments and privatising others. Furthermore, it aims to realise returns valued over OMR 2.6 billion (USD 6.8 billion) over the next five years. It will launch the In-Country Value Program (Qimam) and aims to integrate companies related to the supply chain, digital transformation and human resources.

Most importantly, the authority plans to implement governance and transparency through the introduction of the corporate governance charter associated with the Oman Investment Authority.

Demonstrating the intent of the OIA, its Oman Food Investment Holding Company (OFIC) plans to introduce 23 new food related ventures worth OMR 366 million (USD 952 million) over the next five years. Investments are also planned in tourism, contract farming and other initiatives which are expected to create more than four thousand new jobs.

Business Start Up Oman has a network of subject matter experts and specialists to assist with activities throughout the lifecycle of a business in the Sultanate of Oman. The activities include Market Research & Assessment Oman, Oman Business Case, Oman Business Model Development, Feasibility Study / Business Plan Oman, Organizational & Operational Structuring Oman, Oman Sponsorship & Partnership, Company Formation Oman and many others.

Please click on the link to learn more about the opportunities and possibilities in the Sultanate of Oman as well as the initiatives of Business Start Up Oman.

Other News

News 30 - Thumb

Oman’s Sur Oasis Incubator welcomes entrepreneurs

Sur Oasis Incubator in Sur Industrial City has welcomed its first cohort of entrepreneurs, innovators and inventors most recently.

The incubator accepted start-ups...

Read more
News 29 - Thumb

Oman records energy driven budget surplus

Oman recorded a budget surplus of OMR 784 million (USD 2 billion) in the first half of 2022 according to data provided by Oman News Agency (ONA).

The country’s total revenue in the first six months...

Read more
News 27 - Thumb

More GCC tourists and high hotel occupancy in Oman

The Sultanate of Oman is witnessing a surge of tourists from GCC countries according to the National Centre for Statistics and Information (NCSI).

The increase was most obvious during the months of...

Read more
News 26 - Thumb

Oman passes regulations for household businesses

Oman`s Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has issued a ministerial decision concerning income generating household businesses.

As a result, the new measures will legalise...

Read more
News 25 - Thumb

Oman promotes investment in green energy sector

Oman Investment Authority (OIA) recently hosted the Renewable Energy Conference to present green energy investment opportunities to the international market.

The conference was jointly organised by...

Read more
News 24 - Thumb

Oman’s Ibri Industrial City attracts new projects

Madayn, Oman’s Public Establishment for Industrial Estates, has announced the Ibri Industrial City project completion rate has surpassed 27%.

Phase one of the project is being developed in the Wilayat...

Read more
News 23 - Thumb

Oman plans smart cities in Suhar, Nizwa and Salalah

The Sultanate of Oman`s Ministry of Housing & Urban Planning has launched an innovative initiative to develop three smart cities in different parts of the country.

It has invited international urban...

Read more
News 22 - Thumb

Key enablers to ramp up Oman’s attractiveness

The Sultanate of Oman is introducing a wide range of innovative incentives to attract foreign direct investment and to boost exports to third countries in the region and beyond.

There are 135 new initiatives...

Read more

Page Break