The Saudi Press Agency (SPA) reported that today Saudi arabia’s Public Investment Fund (PIF) has signed a Memorandum of Understanding (MoU) with the Oman Investment Authority (OIA) to strengthen their collaboration, enabling new and promising investments in Oman’s rapidly growing economy.
Under the MoU, PIF and its portfolio companies will receive benefits and incentives, facilitating investment opportunities in Oman.
This agreement represents a significant milestone in the strategic partnership between Saudi Arabia’s Public investment fund and Oman Investment Authority, aiming to expand PIF’s investment portfolio in Oman.
This comes after the recent establishment of the Saudi Omani Investment Company (SOIC), a wholly-owned PIF company, which intends to invest up to $5B in promising sectors in Oman.
SOIC has already completed its first investment in Oman by acting as a 20 percent anchor investor in Abraj Energy Services’ IPO.
The company continues to actively seek other investment opportunities in collaboration with OIA and its affiliated companies.
Through this MoU, PIF aims to streamline its investment activities in Oman, encompassing a diverse range of asset classes and target industries.
The OIA is expected to explore attractive investment opportunities for cooperation and partnership with PIF, while also providing necessary support in the Omani market.
