From financing and boosting the State’s General Budget to managing and developing the Sultanate’s local and foreign funds and assets, the Oman Investment Authority (OIA) plays an active role in the development of the nation.
In an announcement on Oman News Agency, we learn that it has contributed over RO5bn to the nation’s General Budget since 2016.
This, as indicated by Sheikh Nasser bin Sulaiman Al Harthy, the Acting Vice Chairman for Operations of the Oman Investment Authority, is due to governance and rationalisation work adopted by the Authority and its subsidiaries in 2021.
The programme has reportedly saved RO80mn and is expected to save about RO120mn in 2022 and 2023.
Oman Investment Authority also shares a strong portfolio in sustainably developing the Sultanate. It invests in more than 35 countries worldwide – and the fund allocated in assets is between 65 and 85 per cent in Public Markets (tradable) and between 15 and 35 per cent in Private Markets (non-tradable).
Alongside its local initiatives, the organisation also aims to achieve strong financial reserves for Oman and implement government policies to advance the targeted economic sectors.
