Overview
The Oman Investment Authority (OIA) was established in June 2020 through the merger of the State General Reserve Fund and the Oman Investment Fund, consolidating the Sultanate’s sovereign wealth management under a single institutional umbrella. The merger was a landmark decision by Sultan Haitham bin Tariq, reflecting a strategic commitment to more efficient management of state assets and investment portfolios. The OIA manages a diverse portfolio of domestic and international investments spanning energy, infrastructure, real estate, financial services, and technology. It serves as the holding company for many of Oman’s most significant state-owned enterprises and is tasked with maximizing long-term returns to support national development objectives.
Key Facts
- Formed in 2020 from the merger of SGRF and OIF
- Manages estimated assets exceeding USD 17 billion
- Oversees major state-owned enterprises including OQ Group and Omantel
- Invests across asset classes including equities, fixed income, real estate, and alternatives
- Maintains both domestic development investments and international portfolio diversification
- Governed by a board of directors chaired by senior government leadership
- Works in coordination with the Ministry of Finance on fiscal policy alignment
Significance for Vision 2040
The OIA is a cornerstone institution for Vision 2040’s fiscal sustainability and economic diversification goals. By consolidating sovereign wealth management, the authority can deploy capital more strategically across priority sectors identified in Vision 2040, including logistics, tourism, mining, and technology. The OIA’s stewardship of state-owned enterprises means it directly influences the pace and direction of privatization efforts, which generate government revenue and improve corporate efficiency. Its international investment portfolio provides a buffer against domestic economic volatility and oil price fluctuations, supporting long-term fiscal resilience. The authority also plays a catalytic role in attracting foreign co-investment into Oman by partnering with international funds and development finance institutions on large-scale projects.