MUSCAT : Oman’s sovereign wealth fund, the Oman Investment Authority (OIA), reported RO 7.3 billion in profits over the past four years as it accelerates reforms of state-owned enterprises (SOEs) to boost efficiency and reduce debt, according to its 2024–2025 Oman Vision 2040 report.
OIA said the profit reflects the impact of tighter governance, improved transparency, and closer alignment between SOEs and the private sector. Total capital expenditure reached RO 9.7 billion, supporting diversification and long-term growth.
The Authority cut SOE debt from RO 11.4 billion to RO 8.8 billion, strengthening Oman’s credit profile and fiscal resilience.
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On the employment front, OIA created 1,393 new jobs for Omanis in 2024, exceeding its target of 800. Local content spending rose to RO 265.5 million, reinforcing in-country value and supply-chain localization.
Initiatives to spur entrepreneurship include mandatory procurement lists, supplier development programs, and business allocation opportunities for small and medium-sized enterprises.
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