OIA tenders offer RO 2.55 billion opportunities

MUSCAT: Oman Investment Authority (OIA) and its subsidiaries have announced 2,295 forthcoming tenders worth about RO 2.55 billion through the Furas platform, opening new opportunities for private companies and small and medium enterprises.
The figures were disclosed at the seventh Oman Local Content Forum, held under the theme “Beyond Impact: Local Content Drives Growth and Empowers Future Talent”. The event brought together government officials, decision-makers and industry specialists.
The opening ceremony was held under the auspices of HH Sayyid Namir bin Salim al Said.
Al Mutasim bin Saeed al Sariri, Director-General of Local Content at OIA, said the tender pipeline, announced as of September 2026, would allow private companies and SMEs to prepare for upcoming contracts.
OIA is entering a new phase focused on improving the digital readiness of the local-content ecosystem, expanding the use of data in decision-making, supporting innovation and startups and localising industries, he said.
The authority and its subsidiaries currently operate more than six specialised accelerators and incubators serving entrepreneurs and startups across different economic sectors.
Al Sariri said spending on SMEs by OIA companies increased to RO 279 million in 2025 from RO 187 million in 2022. SMEs’ share of total supply-chain spending rose to about 19.9 per cent from 10.9 per cent over the period.
Omanisation across the targeted businesses reached 56 per cent within six months of implementing a local-content guidance manual in early 2026, he said. A total of 1,768 jobs were created, of which 1,408 were filled by Omanis.
Hatim bin Hamad al Taie, Secretary-General and Head of the Forum’s Supreme Committee, said local content was central to Oman’s drive to diversify its economy and reduce its reliance on oil revenue.
He said strengthening domestic supply chains would support growth in non-oil sectors, particularly manufacturing, logistics and fisheries, while increasing the value retained from expenditure within the national economy.
Developing local content required coordinated efforts by the government, businesses and consumers, he added. The government’s role was to develop policies and incentives, while the private sector was responsible for producing competitive goods and services and consumers for supporting national products.
The forum included two sessions examining public-private integration, partnerships, the future of local content and the development of future talent. — ONA