RO 2 billion ‘Future Fund Oman’ launched

RO 2 billion ‘Future Fund Oman’ launched

MUSCAT: In line with the Royal directives to translate the objectives and mandates of Oman Investment Authority (OIA) and further drive its efforts to develop the national economy and attract foreign investments, OIA on Wednesday officially launched 'Future Fund Oman' to start serving a wide range of investment categories.Future Fund Oman has a capital of RO 2 billion that will be utilised over a five-year period, with RO 400 million every year. The fund will allocate 90 per cent of its capital to directly invest in new or existing investment projects that prove to be commercially and economically viable. The remaining 10 per cent is divided into 7 per cent allocated to SMEs and 3 per cent allocated to startups.The fund offers its funding and investment solutions to various investor categories. They include private sector organisations, business owners, SMEs, foreign investors, and startups. With the exception of oil and gas and real estate in direct local investments, the fund will focus on eight targeted sectors, including tourism, manufacturing, green energy, information and communication technologies, ports and logistics, mining, fisheries, and agriculture.Abdulsalam bin Mohammed al Murshidi, Chairman of OIA, underscored that Future Fund Oman is established in line with government