OIA steps up investments in non-energy sectors

MUSCAT: Oman Investment Authority (OIA) is increasingly channelling capital into high-potential non-energy sectors — from logistics and manufacturing to tourism and digital industries — in support of the Sultanate of Oman’s economic diversification and Oman Vision 2040 priorities.
According to Mulham bin Basheer al Jarf, OIA’s Deputy President for Investments, Oman Vision 2040 priorities now shape the Authority’s capital deployment and help define the most dynamic opportunities for both domestic and international investors.
“We are putting more emphasis on non-energy sectors”, Al Jarf said. “Companies such as (integrated energy group) OQ and others are now self-sustaining and no longer require capital support, which allows us to use profits from energy-related assets to fund investments in sectors such as logistics, tourism and manufacturing. We are progressively shifting the weight of our investments to match Oman Vision 2040 priorities”.
Speaking to The Energy Year, a UK-based business news portal, Al Jarf said the Omani sovereign wealth fund continues to invest in sectors prioritised under Oman Vision 2040. The list includes logistics, healthcare, mining, aquaculture, tourism and manufacturing, as well as enabling sectors such as financial services and activities that support domestic supply chains.
Investor interest, he noted, is currently led by green hydrogen and the wider energy-transition space, with renewables and clean power attracting significant momentum. He added that, beyond energy, sectors such as steel, petrochemicals, tourism and real estate are also drawing strong attention, as they combine strategic importance with solid growth prospects, making them appealing to both local and international investors.
To help guide investment strategies in these areas, the Authority is building sector-specific teams to enable a dynamic approach to capital allocation. “For instance, if we IPO a company and realise a profit, we may redeploy those proceeds either to strengthen the same sector or to accelerate growth in others. But the key objective is always complementarity. We never aim to compete with the private sector — our role is to enable, support and co-invest alongside private players”, Al Jarf stressed.
Al Jarf also cited the Authority’s interest in exploring emerging fields, notably fintech, AI, digitalisation and superconductors in partnership with international players. “These sectors represent new frontiers and we are keen to engage with partners who bring expertise and value”, he noted.
Besides supporting Oman’s economic development, the OIA also oversees a sizable portfolio of international investments through its Future Generations Fund. Spanning more than 50 countries, these investments include positions in both public and private markets. In 2024, the Authority launched the $5.2 billion Future Fund Oman (FFO) with the goal of co-investing with domestic and international partners, including SMEs, in Oman Vision 2040 sectors.