Oman launches $5bn fund for major projects

Oman launches $5bn fund for major projects

Oman Investment Authority plans to deploy about $1 billion per year over the next five years as part of a new fund launched on Wednesday that will primarily focus on large-scale projects in the sultanate. The OIA officially announced the launch of the Future Fund Oman with $5.2 billion of capital, 90 percent of which will […]

Worth $1 billion a year

90% of fund for major projects

Green energy a focus

Oman Investment Authority plans to deploy about $1 billion per year over the next five years as part of a new fund launched on Wednesday that will primarily focus on large-scale projects in the sultanate.

The OIA officially announced the launch of the Future Fund Oman with $5.2 billion of capital, 90 percent of which will be invested in major projects located in Oman.

Small and medium-sized enterprises will receive 7 percent with the remaining 3 percent invested in startups.

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Oman officials said projects coming under the investment fund will include tourism, manufacturing, green energy, fisheries, agriculture, ports and logistics, mining and information and communication technologies. 

“This focus is intended to rejuvenate these vital sectors and contribute significantly to Oman’s broader economic objectives,” said Abdulsalam Al Murshidi, OIA president, in a statement.

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