SALALAH: Oman Chamber of Commerce and Industry (OCCI) branch in Dhofar Governorate outlined the role of Oman Future Fund and envisaged partnership between the public and private sectors, namely through the incentivisation of bold investment and the financing of small and medium enterprises (SMEs).
The OCCI branch in Dhofar organised a briefing to this effect on Wednesday to familiarise entrepreneurs and stakeholders.
Rashid bin Sultan al Hashmi, Senior Investment Manager of Oman Future Fund, gave a visual presentation about the fund in which he explained that Oman Future Fund boasts a portfolio of RO 2 billion over a period of 5 years, at a rate of RO 400 million per year.
Al Hashmi explained that the fund would spearhead investment in direct local projects through partnership or lending that ranges from RO 5 million to RO 100 million, with a maximum of 40 per cent ownership. He added that the size of the fund’s investment in small and medium enterprises and start-up companies may reach up to RO 5 million through partnership in equity shares.
He pointed that the fund targets all sectors except the sectors of oil, gas and real estate. “The overall objective of the fund is to consolidate the economy, empower the private sector, support SMEs, encourage venture capital, contribute to economic diversification, promote investment partnerships, integrate with government financing projects and attract investors,” said Al Hashmi.
Discussion panels were held during the gathering to highlight procedures for applying to the fund, evaluating projects, lending and other conditions, learning about the scheme of funding, the business plan, the required licences and corporate commercial registration. - ONA
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