MUSCAT : The OIA also announced impressive profits for 2023, exceeding RO 1.7 billion, with the investment return rising to 9.95 percent, during a media meeting held today, June 4.

The Authority confirmed the continuation of supplying the state’s general budget with amounts exceeding RO 6 billion during the period from 2016 until the end of 2023.

OIA also announced that it has achieved 102 percent of its main goals for the year 2023 through 13 performance indicators, including developing the generational portfolio, supplementing the state’s general budget, economic diversification, enhancing local added value, and developing national capabilities.

Through its new foreign and local investments, the OIA is focusing on diversifying them geographically and into various sectors, and linking some foreign investments to the targeted local sectors by transferring technology and modern techniques to them.

It also clarified that the private markets sector of the Al-Ajyal portfolio, which manages the Authority’s investments abroad, has invested in 13 global funds operating in multiple sectors, in addition to its entry into various direct investments.

It further indicated that the public markets sector of the Al-Ayjal portfolio continues to invest in a number of countries around the world, achieving an average return of 9.8 percent, thus exceeding the target rate of 5 percent.

Referring to its most prominent direct foreign investments, it listed Electric Hydrogen, the Australian company Hysata, the American Our Next Energy, the Platinum investment fund, the Global Infrastructure Fund, and the Chinese Fund.

The Authority succeeded in paying more than RO 2.4 billion of debt, including RO 300 million before its due date in 2023, as part of continuing efforts to reduce the debt of companies affiliated with the OIA to reduce financial risks.

The robust performance reflects the OIA’s strategic investment approach and effective management of its diverse portfolio. The notable increase in assets and profits underscores the Authority’s role in driving economic growth and stability within the Sultanate.

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