Company Insights Oman Investment Authority Banking & Finance Oman Investment Authority Overview Established by royal decree in 2020 Oman Investment Authority (OIA) is Oman’s state-owned sovereign wealth fund. Designed to manage Oman’s funds and assets, it has a strategic focus on optimising returns and contributing to the implementation of Oman Vision 2040. The Oman Investment Authority operates as an independent legal entity but reports to Oman’s Council of Ministers. OIA manages its assets through two funds. The Future Generations Fund (FGF) comprises OIA’s international assets as well as investments in both public and private markets and accounts for 40 percent of the OIA’s assets across more than 50 countries. The National Development Fund (NDF) is tasked with promoting economic diversification and the growth of specific sectors within Oman. It has more than 160 companies among its assets. These vary from holding companies, publicly listed companies and direct private investments, to financial instruments including bonds, securities, sukuk (Islamic bonds) and deposits. The NDF makes up 60 percent of OIA’s assets. Key sectors include mining, energy, logistics and food. Oman has also recently introduced the Future Fund Oman to attract foreign investment and invest in small and medium enterprises and startups. Oman Investment Authority News Finance World Bank loans Oman $310m for economic diversification Loans totalling $310 million to support Oman’s economic diversification plans have been agreed by the International Finance Corporation (IFC), a part of the World Bank Group that seeks to encourage private sector development in less developed markets. The loans, arranged by the Omani Ministry of Finance, are to support three Omani companies, with a particular […] April 21, 2025 Renewable Energy Oman to build liquefied hydrogen corridor with Europe Oman has taken another step towards establishing a liquefied hydrogen corridor for exports to Europe with the signing of an official agreement to develop it. The idea was first announced during Cop28 in Dubai in 2023. Developed by Oman’s state-run hydrogen company Hydrom, the Ministry of Energy, UAE-based Ecolog and offtaker EnBW, one of Germany’s largest power […] April 16, 2025 Telecoms Profits fall as Omantel loses subscribers to rivals Profits have fallen at Oman Telecommunications Company after it lost market share to competitors. Omantel, Oman’s largest telecommunications provider, said net profit was down 3 percent last year to $795 million. Market share fell five percentage points in 2024 to 48 percent of a total of 7.1 million subscribers in the country, down from 53 […] March 12, 2025 Aviation SalamAir adds planes and routes in Oman tourism drive Oman’s only low-cost airline, SalamAir, plans to double its fleet size and almost treble passenger numbers over the next three years, its CEO has told AGBI. Adrian Hamilton-Manns said SalamAir’s fleet would increase from 13 Airbus planes today to 25 aircraft in 2028. It is aiming for annual passenger numbers of 8.5 million in three […] March 4, 2025 Transport Dubai signs deal for Tesla underground ‘Loop’ Dubai has signed a deal with Tesla, Elon Musk’s electric vehicle maker, to build an underground road system in the emirate. Under a partnership agreement with Dubai authorities, a network of tunnels will be constructed under the city. Known as the Dubai Loop, the road system is intended to alleviate to some extent the increasing […] February 13, 2025 Analysis Infrastructure Oman’s infrastructure push is vital for economic turnaround Oman has made strides in enhancing its infrastructure over the past few years, but more is needed. Authorities seem keenly aware of this as they juggle costs and the health of public finances alongside broader efforts to grow the non-oil economy. Historically, the sultanate has been less open than its UAE neighbours to glitzy development […] February 4, 2025 Artificial Intelligence Oman to release new artificial intelligence policy Oman will release a revised national Artificial Intelligence (AI) policy in the first quarter of 2025, according to a local media report. The updated policy will provide a governing framework for the use and development of AI and safeguard national interests, the Oman Daily Observer reported, citing Hassan Al Lawati, national program head for AI […] January 30, 2025 Analysis Finance Vast Gulf wealth funds splinter to make targeted investments Sovereign wealth funds in the Gulf are increasingly doing business via wholly-owned or affiliated entities as they become too big to manage specialised investment efforts, industry watchers are saying. MGX, an Emirati artificial intelligence-focused vehicle founded last year by Abu Dhabi’s fund Mubadala and the artificial intelligence company G42, made a splash by being one […] January 27, 2025 Tech Tech and crypto make a mark as Trump takes charge Donald Trump’s inauguration on Monday as the 47th President of the United States was an overt display of the evolving ties between technology, politics and finance. The presence of tech industry titans and the cryptocurrency market’s dramatic response highlighted the strong relationship between Trump’s administration and the tech world, with potential long-term impacts for Gulf […] January 21, 2025 Economy Trump tariffs could hit foreign investment, Oman warns Oman’s buoyant non-oil sector will help the sultanate’s economy expand this year at nearly twice the rate of 2024, its sovereign wealth fund has forecast. However, the fund warned that US president-elect Donald Trump’s plans to implement tariffs on its trading partners could hamper ambitions by the sultanate to increase foreign direct investment and reduce […] January 9, 2025 Posts navigation 1 2 Next
Finance World Bank loans Oman $310m for economic diversification Loans totalling $310 million to support Oman’s economic diversification plans have been agreed by the International Finance Corporation (IFC), a part of the World Bank Group that seeks to encourage private sector development in less developed markets. The loans, arranged by the Omani Ministry of Finance, are to support three Omani companies, with a particular […] April 21, 2025
Renewable Energy Oman to build liquefied hydrogen corridor with Europe Oman has taken another step towards establishing a liquefied hydrogen corridor for exports to Europe with the signing of an official agreement to develop it. The idea was first announced during Cop28 in Dubai in 2023. Developed by Oman’s state-run hydrogen company Hydrom, the Ministry of Energy, UAE-based Ecolog and offtaker EnBW, one of Germany’s largest power […] April 16, 2025
Telecoms Profits fall as Omantel loses subscribers to rivals Profits have fallen at Oman Telecommunications Company after it lost market share to competitors. Omantel, Oman’s largest telecommunications provider, said net profit was down 3 percent last year to $795 million. Market share fell five percentage points in 2024 to 48 percent of a total of 7.1 million subscribers in the country, down from 53 […] March 12, 2025
Aviation SalamAir adds planes and routes in Oman tourism drive Oman’s only low-cost airline, SalamAir, plans to double its fleet size and almost treble passenger numbers over the next three years, its CEO has told AGBI. Adrian Hamilton-Manns said SalamAir’s fleet would increase from 13 Airbus planes today to 25 aircraft in 2028. It is aiming for annual passenger numbers of 8.5 million in three […] March 4, 2025
Transport Dubai signs deal for Tesla underground ‘Loop’ Dubai has signed a deal with Tesla, Elon Musk’s electric vehicle maker, to build an underground road system in the emirate. Under a partnership agreement with Dubai authorities, a network of tunnels will be constructed under the city. Known as the Dubai Loop, the road system is intended to alleviate to some extent the increasing […] February 13, 2025
Analysis Infrastructure Oman’s infrastructure push is vital for economic turnaround Oman has made strides in enhancing its infrastructure over the past few years, but more is needed. Authorities seem keenly aware of this as they juggle costs and the health of public finances alongside broader efforts to grow the non-oil economy. Historically, the sultanate has been less open than its UAE neighbours to glitzy development […] February 4, 2025
Artificial Intelligence Oman to release new artificial intelligence policy Oman will release a revised national Artificial Intelligence (AI) policy in the first quarter of 2025, according to a local media report. The updated policy will provide a governing framework for the use and development of AI and safeguard national interests, the Oman Daily Observer reported, citing Hassan Al Lawati, national program head for AI […] January 30, 2025
Analysis Finance Vast Gulf wealth funds splinter to make targeted investments Sovereign wealth funds in the Gulf are increasingly doing business via wholly-owned or affiliated entities as they become too big to manage specialised investment efforts, industry watchers are saying. MGX, an Emirati artificial intelligence-focused vehicle founded last year by Abu Dhabi’s fund Mubadala and the artificial intelligence company G42, made a splash by being one […] January 27, 2025
Tech Tech and crypto make a mark as Trump takes charge Donald Trump’s inauguration on Monday as the 47th President of the United States was an overt display of the evolving ties between technology, politics and finance. The presence of tech industry titans and the cryptocurrency market’s dramatic response highlighted the strong relationship between Trump’s administration and the tech world, with potential long-term impacts for Gulf […] January 21, 2025
Economy Trump tariffs could hit foreign investment, Oman warns Oman’s buoyant non-oil sector will help the sultanate’s economy expand this year at nearly twice the rate of 2024, its sovereign wealth fund has forecast. However, the fund warned that US president-elect Donald Trump’s plans to implement tariffs on its trading partners could hamper ambitions by the sultanate to increase foreign direct investment and reduce […] January 9, 2025
