The Future Oman Fund has recorded a strong and positive performance in its first year, approving 44 projects with total investments of around OMR 1.2 billion. Of this, OMR 333 million was contributed by the fund, while OMR 885 million came from foreign capital, reflecting growing global confidence in Oman’s investment environment.
According to a report by the Oxford Business Group reviewing the fund’s performance in 2024, the Future Oman Fund plays a key role in driving economic diversification and expanding Oman’s investment base, aligning with the goals of Oman Vision 2040.
🔹 What is the Future Oman Fund?
The Future Oman Fund is an investment initiative launched by the Oman Investment Authority with a capital of OMR 2 billion distributed over five years. It supports sustainable growth and enhances national economic resilience.
🎯 Fund Objectives
- Stimulate economic diversification in line with Oman Vision 2040.
- Expand the investment base in Oman and attract foreign direct investment (FDI).
- Finance major national projects and support emerging industries.
- Support SMEs and startups (10% of capital allocated).
- Promote innovation in technology and future sectors.
📈 Investment Sectors
- Industry and manufacturing
- Renewable energy
- Information and communication technology (ICT)
- Tourism, agriculture, and fisheries
- E-commerce, fintech, and electric vehicles
🛠️ Role in the Economy
Beyond funding, the fund empowers entrepreneurship, creates jobs, supports innovation, and enhances supply chains—strengthening Oman’s regional and global investment positioning.
Driving Investment and Economic Diversification
The fund operates within a comprehensive strategic framework, stimulating investment in high-potential sectors. It allocates 90% of its capital to major projects and 10% to SMEs and venture capital, ensuring balanced growth and synergy with national development efforts.
Supporting National Reforms and Investor Confidence
Legal and regulatory reforms have bolstered investor confidence. These include:
- ✅ 100% foreign ownership in most sectors
- ✅ “Invest in Oman” platform simplifying licensing procedures
- ✅ Reduced restrictions on foreign ownership
- ✅ Privatization laws supporting public-private partnerships
Strategic Partnerships and Key Projects
The fund has formed strategic partnerships, including two with Chinese entities:
- IDG Oman Fund (USD 200 million): Focused on ICT, renewable energy, EVs—attracting FDI and advancing clean technologies.
- EWTP Oman Fund (USD 250 million): Investing in ICT, renewable energy, tourism, and agriculture; promoting Chinese industrial presence in Oman.
It also supports key projects like the United Solar Polysilicon Plant in Sohar Freezone—the largest outside China—producing 100,000 tonnes and positioning Oman to capture 4.4% of the global polysilicon market.
Supporting SMEs and Innovation
The fund actively supports startups and innovation, including:
- ✅ Qpay: Oman’s first licensed “Buy Now, Pay Later” platform
- ✅ Beema: Digital insurance services
- ✅ Sarb: Drone traffic management technology
Looking Ahead: Vision 2024–2028
The Future Oman Fund’s five-year strategic plan aims to:
- ✅ Create over 1,600 direct jobs in 2024
- ✅ Diversify the economy beyond oil and gas
- ✅ Empower startups and foster innovation
Conclusion
The Future Oman Fund stands as a cornerstone in Oman’s path toward a diversified, innovation-led economy. As it continues to attract strategic investments and empower both major sectors and SMEs, the fund plays a vital role in realizing the ambitions of Oman Vision 2040 and reinforcing Oman’s global investment standing.
