Oman Investment Authority launches $5.2 billion ‘Future Fund Oman’
Oman Investment Authority (OIA) has launched the ‘Future Fund Oman’ with an initial capital layout of $5.2 billion over a five-year period that is aimed to boost the country’s economic development and attract international investors.
Future Fund Oman is designed to partner with an array of investor categories, including private sector entities, business proprietors, foreign investors, small and medium-sized enterprises (SMEs) and start-ups.
To be deployed over the next five years at a rate of approximately $1 billion annually, the Fund will allocate 90 per cent of its capital to direct investments in new or existing large-scale projects in Oman. Seven per cent of the Fund will be towards supporting SMEs and the remaining 3 per cent is for investment in start-ups.
The Future Fund has identified eight critical sectors for investment – tourism, manufacturing, green energy, fisheries, agriculture, ports and logistics, mining, and information and communication technologies. It aims to rejuvenate these vital sectors and contribute significantly to Oman’s broader economic objectives.
With a goal of diversifying the economy, the Fund will not be looking to invest in any oil and gas and real estate projects.
Abdulsalam Al Murshidi, President, OIA, said the “Fund acts as a catalyst for economic diversification and is a reliable partner for investors worldwide. Additionally, it strategically focuses on empowering the private sector, attracting FDI, empowering SMEs, and fostering venture capital.”
Interested investors can apply directly on futurefund.om and can access all information on the website. Application review may take up to three months with regular updates on status.
The Fund will adhere to OIA’s quality standards, which have already positioned the Authority in second place globally in the Governance and Sustainability Development Index in 2022-2023.
