Muscat: The Oman Investment Authority (OIA) has been globally lauded for its pivotal role in enhancing Oman’s economic diplomacy and fostering future-ready investments. A recent comprehensive report by the Global SWF Foundation highlighted the Authority’s strategic success over the past five years in consolidating international partnerships and reinvesting globally generated returns into domestic development.
Key achievements include the establishment of multiple joint investment funds. Notably, a $300 million fund was launched in partnership with Algeria, targeting key sectors such as mining, food security, and pharmaceuticals. In Turkey, a $500 million joint initiative was signed with Oyak Fund, while collaboration with Uzbekistan led to the founding of a university in Tashkent in partnership with Arizona State University. Meanwhile, the Vietnam Oman Investment Company has channeled $400 million into projects in clean energy, infrastructure, healthcare, and education.
The report emphasized OIA’s forward-looking strategy of investing directly in global tech firms to localize advanced technologies in Oman. High-profile investments include Elon Musk’s AI startup xAI, U.S.-based climate-tech company Tidal Vision, and a $100 million technology-focused fund launched with Singapore’s Golden Gate Ventures. Locally, OIA continues to support promising startups such as Bayanat, further fueling the Sultanate’s innovation ecosystem.
On the divestment front, the Authority has successfully exited 19 government assets since mid-2022, generating over RO 2.7 billion in returns. These efforts are expected to inject fresh momentum into the Muscat Stock Exchange and bolster investor confidence.
Domestically, the Authority’s National Development Portfolio surpassed expectations, with capital expenditures reaching RO 1.9 billion, exceeding the targeted RO 1.7 billion. Comprising 60% of OIA’s managed assets, the portfolio aligns with Oman Vision 2040, focusing on high-impact sectors such as green energy, manufacturing, and tourism.
One of OIA’s flagship initiatives—the Oman Future Fund—launched with RO 2 billion in capital, is designed to accelerate local economic growth. With 90% of its investments earmarked for large-scale national projects and 10% for SMEs, the fund attracted more than $2 billion in its first year, 70% of which came from international investors. This broad global interest distinguishes it from traditional regional funds often concentrated in oil and real estate.
The Global SWF Foundation concluded that OIA’s multi-dimensional strategy—spanning international cooperation, domestic growth, and innovation—establishes it as a regional benchmark for sustainable economic development and diversification in the Gulf.
