The Oman Investment Authority (OIA), the sovereign wealth fund of the Sultanate of Oman, has announced the establishment of a joint investment fund with the state-owned Azerbaijan Investment Holding. The new fund, valued at OMR 77 million ($200 million), will be equally seeded by both sovereign entities to drive strategic investments across both nations.
A Strategic Partnership for Diversification
The joint fund is set to target a diverse range of high-growth sectors, including food, manufacturing, renewable energy, logistics, healthcare, and consumer goods. This initiative is designed to identify and back projects with significant developmental impact, fostering income diversification and enhancing in-country value. The fund’s strategy aligns directly with the long-term goals of Oman Vision 2040, which aims to create a sustainable and diversified economy.
Expanding a Global Investment Footprint
This collaboration with Azerbaijan represents the latest step in OIA’s broader strategy to expand its network of international investment partnerships. Abdulsalam Mohammed Al Murshidi, Chairman of OIA, noted that the partnership supports the authority’s mandate to attract foreign investment and aid the Sultanate’s economic diversification goals. OIA has a history of establishing similar successful joint investment vehicles with several countries, including Turkey, Qatar, Brunei, Uzbekistan, India, Vietnam, Spain, Pakistan, and China.
OIA’s Strong Financial Performance
The new fund follows a period of strong performance for the Omani sovereign fund. According to its 2024 annual report, OIA recorded profits exceeding OMR 1.6 billion, with its assets under management growing by 6% year-on-year to reach OMR 20.4 billion ($53 billion). In the past year alone, OIA has demonstrated its active investment approach by committing capital to 13 new investment funds and forging new strategic alliances, such as a joint platform with Turkey’s Oyak Fund targeting key sectors within Oman.
About Oman Investment Authority (OIA)
The Oman Investment Authority (OIA) is the sovereign wealth fund of the Sultanate of Oman. It is entrusted with managing the country’s assets to achieve long-term financial returns and contribute to the diversification of the Omani economy. OIA invests both locally and internationally across a wide range of asset classes and sectors in line with its strategic objectives and the goals of Oman Vision 2040.
Source: AGBI
