{"id":17423,"date":"2024-10-03T00:00:00","date_gmt":"2024-10-03T00:00:00","guid":{"rendered":"https:\/\/www.fm.gov.om\/17423\/"},"modified":"2026-04-30T07:38:50","modified_gmt":"2026-04-30T07:38:50","slug":"oman-future-fund-announces-omr-830m-of-projects-promising-1600-jobs","status":"publish","type":"post","link":"https:\/\/www.fm.gov.om\/en\/17423\/","title":{"rendered":"Oman Future Fund announces OMR 830m of projects promising 1,600 jobs"},"content":{"rendered":"
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The Oman Future Fund, run by the Oman Investment Authority, has announced its first batch of investment projects in partnership with local companies and international investors.<\/p>\n

The total value of these projects exceeds 832 million Omani rials (OMR), including OMR 609 million in foreign investments. The Future Fund is investing OMR 220 million in these projects, which are expected to create more than 1,600 direct job opportunities.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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The projects span ten key sectors across Oman. Major projects cover technology, industry, tourism, new energy and electric vehicles. Projects involving small and medium-sized enterprises (SMEs) and startups cover sectors including food, health, technology, fintech and e-commerce.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\"Mulham<\/p>\n

Mulham bin Bashir Al Jarf, Deputy President <\/a>for Investments <\/a>of the Oman Investment Authority,<\/a> said the projects reflect the Authority’s efforts to achieve the strategic goals of the Oman Future Fund.<\/p>\n

These goals focus on stimulating and developing the local economy, advancing the targeted economic sectors, integrating with the private sector, attracting foreign investments and providing opportunities for SMEs and startups.<\/p>\n

Mulham Al Jarf said that these are the Fund’s first investment projects since it began operations in January, 2024<\/a>.<\/p>\n

He added that the Fund received a high level of interest from both local and international investors with more than 212 applications submitted. He emphasised that the Authority is committed to taking care to ensure the soundness of the Fund’s investment decisions.<\/p>\n

The investments include three key ventures.<\/p>\n

The first is the United Solar<\/a> factory in the Sohar Free Zone.<\/a> It is one of the largest factories in the world and the first of its kind in the Middle East.<\/p>\n

It contributes to the development of downstream industries for renewable energy including solar panel manufacturing with a production capacity of 100,000 tonnes annually.<\/p>\n

The second venture is the IDG Oman Investment Fund, a partnership with China\u2019s IDG Capital<\/a>, which has extensive experience in diverse investments.<\/p>\n

This fund will invest in Oman in collaboration with promising Chinese companies focusing on information and communications technology (ICT), renewable energy and electric vehicles.<\/p>\n

The third venture is the EWTB Oman Fund, also in partnership with China\u2019s EWTB Capital, targeting investments in Oman with a focus on ICT, energy, tourism and agriculture.<\/p>\n

The investment of the Oman Future Fund in local direct projects is through partnerships or lending based on several criteria including that the Fund’s ownership in a project does not exceed 40%.<\/p>\n

The focus is on projects aimed at stimulating growth, with the Fund’s investment in these projects ranging between OMR 5 and 100 million.<\/p>\n

For SMEs, the Fund invests either through partnerships or venture capital with a maximum investment of OMR 5 million Omani without taking majority ownership, and focusing on growth and expansion.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investments target the Omani market in partnership with China’s IDG Capital.<\/p>\n","protected":false},"author":1,"featured_media":17425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[76,116],"tags":[],"class_list":["post-17423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-posts-and-videos","category-trade-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/posts\/17423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/comments?post=17423"}],"version-history":[{"count":2,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/posts\/17423\/revisions"}],"predecessor-version":[{"id":43914,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/posts\/17423\/revisions\/43914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/media\/17425"}],"wp:attachment":[{"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/media?parent=17423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/categories?post=17423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/tags?post=17423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}