Omani officials welcome launch of ‘Oman Future Fund’

Omani officials welcome launch of ‘Oman Future Fund’

Muscat: Officials in the Sultanate of Oman have appreciated and welcomed the directives of His Majesty Sultan Haitham bin Tarik to launch an investment fund- the 'Oman Future Fund'. Their Excellencies described it as a distinct step in the interest of the nation and the promotion of economy and investment.

His Majesty the Sultan, may God preserve and protect him, presided over the meeting of the Cabinet Council yesterday, Wednesday, at Al-Baraka Al-Amer Palace.

It came as part of the directives of His Majesty the Sultan, may God preserve him, to launch an investment fund called Oman Future Fund with a capital of IMR 2 billion, with the aim of enhancing economic activity and encouraging the private sector to enter into partnerships or finance viable investment projects in the sectors of economic diversification targeted by Oman Vision 2040.

His Majesty - may God bless him - also directed the allocation of a percentage of the fund's capital to stimulate the system of bold investment in small, medium and emerging companies registered in the Small and Medium Enterprises Development Authority.

His Excellency Qais Al Youssef, Minister of Commerce, Industry and Investment Promotion (MoCIIP), commenting on His Majesty's directives to launch an investment fund, said: “His