MARKING ITS NINTH STRATEGIC PARTNERSHIP WITH GLOBAL WEALTH
FUNDS
MUSCAT,
Oman, Nov. 29, 2024 /PRNewswire/ -- As part of
His Majesty Sultan Haitham bin Tarik's state visit to the Republic
of Türkiye, Oman Investment Authority (OIA), Oman's Sovereign Wealth Fund, announced a
US$500 million collaboration with
Türkiye's state-owned OYAK Fund. This joint capital allocation,
with equal contributions from both entities, underscores
Oman's commitment to strengthening
economic ties with global partners while advancing mutual growth
and development.
This partnership will focus on investments in Oman and Türkiye, with prospects for expansion
into other international markets.This initiative further reinforces
OIA's ongoing strategy to establish high-value investment alliances
that deliver significant financial and strategic returns.
H.E. Abdulsalam bin Mohammed Al
Murshidi, President of the Oman Investment Authority,
stated: "We have built a global reputation and sufficient expertise
to form impactful partnerships that bring tangible benefits to
Oman's economy. This latest
collaboration with OYAK Fund seamlessly aligns with our strategic
objectives to expand our investment network and secure meaningful
returns."
OYAK General Manager Süleyman Savaş Erdem added, "The joint fund
we have established with the Oman Investment Authority is an
indication of the trust in our country and our corporation. With
this fund, we will be making investments in strategic areas not
only in both countries, but also in different regions of the world.
This partnership will strengthen our vision of being a global
company."
OYAK Fund brings significant resources and expertise to this
collaboration, enhancing its potential to drive economic growth in
both countries. Key industries targeted for investment include
mining, metals, automotive manufacturing, logistics, chemicals,
agriculture, food production, and energy. It also aims to
facilitate technology transfer and localize expertise in
Oman, fostering capacity building
and knowledge sharing.
This agreement marks OIA's ninth strategic partnership with
global entities, building on successful collaborations with
Saudi Arabia, Qatar, Spain,
Brunei Darussalam, Vietnam, Uzbekistan, Pakistan, and India. These alliances have delivered positive
outcomes, such as new investments, profitable exits, and increased
capital allocations. The authority's growing portfolio underscores
its pivotal role in driving Oman's
economic diversification and international economic diplomacy.
By leveraging the expertise and resources from trusted
international partners, OIA continues to pave the way for
sustained economic growth and prosperity for the Sultanate of
Oman.
Contact:
For more information, please contact:
Fahad Al Toubi, Senior Specialist -
Media Relations
+968 92155655
Fahad.AlToubi@oia.gov.om
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