Oman’s sovereign wealth fund, Oman Investment Authority (OIA), has launched a US$5.2 billion fund to invest in Omani projects and companies.
The Future Fund Oman will deploy its capital at a rate of $1 billion annually over the next five years.
As much as 90% of its capital will be invested directly in “commercially and economically-viable new or existing large-scale projects located in Oman”.
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The sovereign wealth fund will also allocate 7% of capital to Oman-based SMEs and the remaining 3% will be invested in startups.
According to the OIA, the fund will act as a “catalyst for economic diversification, with focus on empowering the private sector, attracting FDI, empowering SMEs and fostering venture capital”.