MUSCAT : The head of Oman Investment Authority, H.E. Abdussalam bin Salim Al-Murshidi, revealed that the assets of the Authority exceeded OMR 16 billion, equivalent to more than 40 billion US dollars. In the interview on Oman TV’s ‘With Youth’ show, he said foreign investments depend on geographical and sectoral diversity.
He also pointed out that of the 160 companies that the OIA oversees, only a handful are making losses and that it plans to eliminate those companies to enhance investments. He indicated that the Authority has no hesitation in liquidating these companies in the event of their continued loss, and pointed out that there is no acceptable percentage of loss.
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He also mentioned that the Authority directs part of its investment plans to future technologies and bring them to the Sultanate.
He added, “We found astronomical numbers in incentives and rewards, as well as through our review of the human resources directory for more than 100 government companies. We found 82 different bonuses…”
He also elucidated a number of points, most notably the implementation of a list of specific criteria for incentives and competitiveness. He stated that the goal of eliminating incentives is to apply justice and also to attract genuine talent, which is one of the biggest challenges.
“We will be happy for any Omani citizen who works even after the end of the incentives, whether in government companies or others, and he/she will be a gain for the country, even if he works outside the borders of the Sultanate,” he stated.
