Oman’s sovereign wealth fund, managed by the Oman Investment Authority (OIA), reported a significant growth in its total assets, which increased by 7.4% year on year, reaching 19.24 billion Omani rials ($49.9 billion) in 2023. According to a recent report, the OIA achieved a return on investment of 9.95% for the year, reflecting the authority’s strategic investment approach and effective management of its diverse portfolio. This performance underscores the OIA’s pivotal role in promoting economic growth and stability within Oman, aligning with its mission to manage and develop the nation’s funds and assets, achieve financial reserves, and advance key economic sectors.
During a media meeting in Muscat, the OIA confirmed its commitment to supporting the state’s general budget, having contributed over 6 billion rials from 2016 to 2023. The authority also emphasized its strategy to diversify its investments both geographically and across various sectors, including technology transfer to local industries. The OIA highlighted notable investments in the private markets sector of its Al-Ajyal portfolio, which manages investments abroad, and continues to achieve impressive returns in public markets. Among its prominent direct foreign investments are Electric Hydrogen, Hysata, and Our Next Energy, as well as investments in the Platinum investment fund, the Global Infrastructure Fund, and the Chinese Fund. Despite global challenges, Finance Minister Sultan bin Salim Al-Habsi reaffirmed the OIA’s resilience and ongoing commitment to growing Oman’s economy and achieving financial sustainability.