Wednesday, March 22, 2023 | Sha'ban 29, 1444 H
few clouds
26°C / 26°C

OIA receives well-deserved praise

The acclaim received by the authority from His Majesty the Sultan will become a strong source of motivation for all other agencies and companies

The appreciation which the Oman Investment Authority has received from His Majesty Sultan Haitham bin Tariq at the meeting of the Council of Ministers, reflects the volume and value of its work. Those who are associated with this major investment apparatus, in whatever capacity, have contributed to the achievements made by it.

It is their hard work and earnestness which has made possible for the authority to attract national and foreign investments and bring hundreds of millions of riyals to the national treasury as returns of local and foreign investment.

But it would always require an approach to build upon these achievements in the next phase and keep the capital rolling in the local markets. All this is needed to achieve development goals.

There is focus on two categories of investments. They are current assets which include global stocks, fixed income bonds, short-term assets. Also there are private non-current assets which include direct investments in industrial, commercial, service, logistical, and real estate projects.

There are efforts aimed at improving its role, especially in regards with the governance of work in all its investments. It increases satisfaction with the positive outcomes achieved by the authority in a short period of time compared to other agencies. It shows the depth of vision, clarity of purpose, and the soundness of the approach it takes in managing it and its transparency in working at an equal distance with all stakeholders.

It is more important than any such appreciation enjoyed by any other state organisation. When the top leadership of the country is talking positively about any institution, he is actually extending his support to the efforts made by it and expects that it would continue to follow his vision which has led it to make such achievements. This appreciation is an honour for those who are associated with the authority as well as a clear message that they have to maintain the pace of work in the interests of the people who are the ultimate beneficiary of these endeavours. There is no ambiguity in this message.

In several of my previous articles, I have called for uniting investment efforts in the country and abroad and managing them in a centralised manner which has all the required ingredients. I have always advocated that instead of scattering the efforts, it should be controlled by one agency.

The Oman Investment Authority is doing exactly the same under its banner. It is made the work integrated and organised. This made the investment activities sustained and consistent. We can also, with confidence, count highly on the agency in the next stage. We are fully aware of its capabilities to lead the wheel of national investments in various economic sectors which maximize the utilization of the country's natural resources and benefit from the geographical location and the soft powers of the Sultanate of Oman, such as stability, security, wisdom, balanced politics, and fair stances on issues.

The international community has confidence in Oman which many countries lack. We feel proud that there is one agency which works to increase and amplify local and foreign investments in a way which contributes to enhancing non-oil revenues. It supports the efforts related to economic diversification pursued by the government in accordance and in line with the objectives of Oman Vision 2040. It builds the pillars on solid ground so that all investors can rely on them without any apprehensions.

We are hopeful that the acclaim received by the authority from His Majesty the Sultan will become a strong source of motivation for all other agencies and companies so that they can make more efforts and show more dedication in their areas of work. It is the achievement which attracts appreciation and builds confidence.

arrow up
home icon