In a rapidly changing global landscape, the Oman Investment Authority (OIA) plays a pivotal role in shaping the economic future of the Sultanate of Oman. As the sovereign wealth fund of the nation, the OIA closed 2024 with an impressive US $53 billion in assets under management and reported a net profit of US $4.12 billion. This remarkable performance enabled a significant transfer of US $2.1 billion to the state budget, thereby reinforcing the authority's growing fiscal role within the country's economy.
The Global SWF has recognized the OIA among the top ten sovereign wealth funds, largely due to its robust five-year annualized returns. By harnessing Oman's potential through globally diversified investments, the OIA strategically invests in future-focused sectors that align with the national development vision. The OIA's investment approach unfolds across three verticals: the National Development Fund (NDF), the Future Generations Fund (FGF), and the Future Fund Oman (FFO). This structured strategy not only minimizes risk but also accelerates growth in priority sectors outlined in Oman Vision 2040.
Strategic Investments: A Blueprint for Growth
In 2024, the NDF deployed an impressive US $4.9 billion, surpassing its initial target of US $4.4 billion. This funding primarily focused on accelerating domestic projects, with a remarkable 68% of commitments directed towards the energy sector. Notably, this included additional funding for the Duqm Refinery and the launch of 500 MW solar plants. Furthermore, investments also targeted logistics, tourism, mining, and telecommunications, with significant capital allocated to the Asyad Container Terminal and the reopening of copper mines.
Meanwhile, the FGF broadened its international exposure by investing in 13 new funds across sectors such as artificial intelligence, healthcare, fintech, and energy transition. As an early investor in xAI, the OIA positions itself to capture value from global innovation trends while simultaneously evaluating their applicability to the Omani economy. Such strategic foresight illustrates the OIA's commitment to fostering sustainable economic growth and preparing Oman for future challenges.
Empowering Local Enterprises and Innovation
In addition to its international investment strategies, the OIA is actively championing local enterprises and initiatives. In 2024, Small and Medium Enterprises (SMEs) accounted for nearly 20% of the OIA's supply chain spend, supported by over US $28 million in direct funding. This initiative not only empowers local businesses but also strengthens the overall economic fabric of the Sultanate.
Moreover, the OIA's commitment to innovation extends to startup funding and accelerator programs, fostering a culture of entrepreneurship within Oman. By backing local champions and engaging with institutional investors, the OIA hosted the largest global gathering of sovereign wealth funds in Muscat, further solidifying its role as a leader in the investment community.
The Oman Investment Authority is not merely a sovereign wealth fund; it is a catalyst for economic transformation in the Sultanate of Oman. With strong financial results for 2024, a commitment to diversifying investments, and a focus on innovation and entrepreneurship, the OIA is poised to emerge as a key stabilizer of Oman’s public finances and a significant contributor to its long-term economic resilience. For additional insights, the 2024 Annual Report is available at [www.oia.gov.om](http://www.oia.gov.om).
