MUSCAT – Oman’s Future Fund Oman (FFO), a portfolio of the Oman Investment Authority (OIA), has announced a new portfolio of 105 projects and investments worth RO 583 million, aimed at accelerating economic diversification, attracting foreign capital and creating jobs across key sectors of the economy.

The portfolio includes RO 225 million in commitments from the Future Fund Oman, approximately RO 176 million in local investments and is expected to attract around RO 182 million in foreign direct investment (FDI). The projects are projected to create 2,302 jobs, with 568 positions already filled.

The investments span tourism, renewable energy, advanced manufacturing, healthcare, medical technologies, innovation and food industries, reflecting Oman’s efforts to strengthen private sector participation and attract high-quality investments in line with the goals of Oman Vision 2040.

The announcement was made during a special event organised by FFO to showcase its latest investments and projects, highlighting the fund’s role in supporting economic diversification, venture capital investment and foreign investment inflows.

His Excellency Mulham bin Bashir Al Jarf, Deputy President of Investment at the Oman Investment Authority, said the new portfolio represents a practical implementation of the vision behind the establishment of Future Fund Oman.

“The portfolio of projects and investments represents a practical translation of the vision upon which FFO was established,” Al Jarf said, adding that the fund focuses on directing investments into nationally prioritised sectors capable of generating value for the economy, enhancing competitiveness and creating opportunities for growth and innovation.

He said that since its launch in early 2024, FFO has worked to position itself as an economic catalyst and trusted investment partner by supporting promising projects, building strategic partnerships and enabling private sector participation in investment opportunities that contribute to economic diversification. He added that the fund also plays a key role in attracting foreign investors by showcasing Oman’s competitive advantages and investment opportunities.

Among the flagship projects announced was the Orion Solar Project in Sohar Freezone, which will establish the Middle East’s first integrated solar cell and solar module manufacturing facility. The plant will have an annual production capacity of six gigawatts and is expected to support the localisation of the solar energy value chain in Oman.

FFO also invested in the Jalant Industrial Project in Salalah, which will produce 66,000 tonnes annually of Lithium Iron Phosphate (LFP) Cathode Active Material, a key component in electric vehicle batteries and energy storage systems. The project is expected to strengthen Oman’s role in global clean energy supply chains.

In tourism, the fund invested in the Al Sawdah Island Resort project in the Hallaniyat Islands, an integrated resort development covering around 10 kilometres of coastline and featuring hospitality and leisure facilities aimed at boosting Oman’s tourism sector.

The fund also backed Station 11, described as Oman’s first integrated innovation hub, bringing together startups, venture capital firms, research and development ecosystems and policymakers under one roof to support entrepreneurship and technology-driven innovation.

In the food industry, FFO invested in Alma, a company managed by ADG Capital Fund that plans to establish a manufacturing, research and development centre for animal nutrition products with an annual production capacity of 12,000 metric tonnes. The project aims to strengthen local supply chains and make greater use of Oman’s marine and livestock resources.

The fund also invested in cybersecurity company XCyber through EWP Partners Fund. The company provides sovereign cybersecurity solutions using artificial intelligence to enhance threat detection, investigation and response capabilities while protecting critical infrastructure.

In healthcare, FFO announced investments of RO 77 million each in the Vivo Capital Fund, a global life sciences investment fund focused on medical technologies, biotechnology and pharmaceuticals, and the Certares Fund, which specialises in tourism, travel and hospitality investments.

Additionally, the fund launched a dedicated Healthcare Investment Fund with capital of RO 50 million targeting opportunities in healthcare services, pharmaceuticals, medical technologies, digital health, diagnostics, health insurance and medical research.

FFO also highlighted its support for startups and SMEs, noting that it has backed 85 projects at the incubation stage through partnerships with Ithca Group, Al Jabr and R&D Labs, supported 53 startups through Omantel, Phaze Ventures and Cypher Capital funds, and financed 96 SME projects through Tanmia Fund and Beehive Fund.

Other investments include Alwajer Pharmaceuticals, an Omani pharmaceutical ingredients producer; the Women and Children Specialty Hospital, which is expected to become Muscat’s first premium women-focused hospital with fertility and IVF services; and Yuzu Agricultural Company, which plans to expand its organic farming operations tenfold to support food security and agricultural growth.

The Oman Investment Authority said investors, entrepreneurs and companies can access information about funding opportunities, targeted sectors and application mechanisms through Future Fund Oman’s digital platform.