Oman Investment Authority revamps ICT arm

Omani Investment Authority (OIA) has revamped its ICT holding arm – Oman ICT Group — to currently comprising four entities: Oman Broadband Company, Oman Technology Fund (OTF), Space Communication Technologies Company, and Oman Tower Company.

The restructuring is designed to enhance the efficiency of the ICT sector, reduce operating and administrative costs and create lean organizational structures, the Authority said in a statement.

Part of the ICT Group’s mandate is to support investment in the digital economy, promote the rollout and adoption of emerging technologies, such as Artificial Intelligence, Internet of Things, Smart Cities, Big Data, Blockchain, and so on. It was established by the Authority to serve as the investment arm of the government to explore partnership opportunities with the private sector in the implementation of ICT strategies and 4IR initiatives, as well as to enable SMEs to contribute to the growth of this sector. 

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