The Oman Investment Authority (OIA) has introduced the ‘Future Fund Oman,’ initiating an investment of $5.2B over five years to stimulate the nation’s economic progress and entice international investors.
The Future Fund Oman aims to collaborate with various investor sectors, including private enterprises, business owners, overseas investors, small and medium-sized enterprises (SMEs), and startups.
Spread out over the next five years at an annual rate of around $1 billion, the Fund will designate 90 per cent of its resources to direct investments in new or existing large-scale projects within Oman. Seven per cent of the fund will be allocated to supporting SMEs, with the remaining 3 per cent earmarked for startup investments.
Identifying eight critical sectors for investment—tourism, manufacturing, green energy, fisheries, agriculture, ports and logistics, mining, and information and communication technologies—the Future Fund Oman aims to revitalize these pivotal sectors and significantly contribute to Oman’s broader economic goals.
With an objective of economic diversification, the Fund will abstain from investing in oil and gas and real estate ventures, according to Arabian Business.
Abdulsalam Al Murshidi, President of OIA, highlighted that the “Fund serves as a catalyst for economic diversification and stands as a trustworthy partner for global investors. Moreover, it strategically focuses on empowering the private sector, attracting Foreign Direct Investment (FDI), supporting SMEs, and promoting venture capital.”
Prospective investors can directly apply on futurefund.om and access comprehensive information on the website. Application reviews may take up to three months with regular status updates.
Adhering to OIA’s quality standards, which have already propelled the Authority to the second position globally in the Governance and Sustainability Development Index for 2022-2023.