MUSCAT: The Oman Investment Authority (OIA) has done a comprehensive review of all the state-owned companies including legal, financial and operational aspects, its Chairman said in an interview.

His Excellency Abdulsalam Al Murshidi, Chairman of the Oman Investment Authority said the review will help to develop a governance system that covers all aspects related to its work.

“The responsibilities of the staff working at OIA has been expanded including giving them additional role in reviewing the state-owned companies which has been successfully done by the team. At the same time they have continued their work to manage foreign investment assets with the same efficiency,” Al Murshidi said.

He indicated that since the issuance of the Royal Decree No. 61/2020, the authority has focused on many priorities. “The first is to study the situation of the companies that have become dependent on OIA and and to review all its aspects simultaneously, then the second priority was the general vision of their work according to a unified governance system, then the third priority is to involve these companies and work as one team, and finally the fourth priority, was based on paying attention to the effects of the Covid-19 pandemic, and evaluating the role that state-owned companies can play through their services in mitigating the those effects,” he explained.

Al Murshidi hope that decisions made by OIS will help in growing the country’s annual GDP and diversifying sources of income, and supplementing the state’s general budget with revenues.

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