Oman Future Fund to be launched on Jan 17

Oman Future Fund to be launched on Jan 17

To invigorate the economy and provide vital support to startups, Oman Investment Authority will launch Oman Future Fund on January 17.Muscat – To invigorate the economy and provide vital support to startups, Oman Investment Authority (OIA) will launch Oman Future Fund on January 17.

At a meeting of the Council of Ministers in 2023, His Majesty Sultan Haitham bin Tarik gave directives to establish the fund with a capital of RO2bn.

The fund is aimed at increasing economic activity and encouraging the private sector to enter into partnerships or finance investment projects in the sectors of economic diversification targeted by Oman Vision 2040.

His Majesty the Sultan directed allocation of part of the fund’s capital to stimulate SMEs and startups registered with the Authority for Small and Medium Enterprises Development.

Commenting on the fund, Nasser Said Salim, a local investor, said it will stimulate economic activity and enhance private sector engagement. “It will create favourable investment conditions in light of the global competition among countries for supporting and financing startups.”

He added that the fund will play a major role in improving infrastructure, developing businesses and increasing job opportunities, while improving living standards. “It will improve the business environment and foster growth of emerging and