Oman Future Fund: Stimulating economy, supporting startups

  • Date: 04-Jun-2023
  • Source: Muscat Daily
  • Sector:Technology
  • Country:Oman
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Oman Future Fund: Stimulating economy, supporting startups



Muscat – The Oman Future Fund, established last week through a Royal Directive with a capital of RO2bn, is one of the most significant decisions that is set to invigorate the economy and provide vital support to startup companies, according to top officials. 

Expressing appreciation for the Royal Directive, H E Salim bin Mohammed al Mahrouqi, Minister of Heritage and Tourism, stated that the ministry has initiated the preparation of a comprehensive matrix to evaluate eligible projects for financing under the fund.

“This fund aligns with Oman Vision 2040, aiming to build a diversified and sustainable economy. It represents an effective tool for financing tourism projects, overcoming challenges faced by investors in the sector, and accelerating project implementation. Moreover, it empowers the ministry and creates job opportunities for young individuals,” H E Mahrouqi added.

Highlighting its significance, H E Qais Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, emphasised that the fund will enhance economic activity and encourage private sector engagement. “It will foster partnerships and provide financing for viable investment projects, particularly in sectors crucial for economic diversification.”

Additionally, the fund will create favourable investment conditions in light of global competition among countries.

Faisal al Rawas, Chairman of the Board of Directors