Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) is set to invest $5 billion in Oman.
A statement from both countries confirmed the plan and was issued as part of a state visit to Oman from the Saudi crown prince Mohammed bin Salman.
A number of MoUs worth more than $30 billion were also signed as part of the visit, although no details of the companies or sectors involved in the investments were disclosed.
The PIF has also netted $2.9 million from its investment in Tadawul, the Saudi stock exchange, which recently went public.
The PIF holds the seventh largest share in the exchange which saw its shares rise by 14% in the first day following its initial public offering.
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