Working with local businesses and foreign investors, the Oman Future Fund has revealed a sizable investment program valued at OR832 million (about $2.2 billion). This statement underlines the fund's dedication to promote Omani economic growth and strengthen local and international cooperation.

Under the direction of the Oman Investment Authority, the fund's initiative consists of foreign investments valued at OR609 million ($1.6 billion), with OR220 million ($572 million) from own contribution. Reflecting the fund's goal to boost Sultanate economic growth, these projects are estimated to provide around 1,600 direct employment opportunities.

Targeting 10 key sectors of Oman's economy, the investment projects fall into two broad groups: big projects and those emphasizing small and medium businesses (SMEs) and startups. Among the main projects are those in technology, industry, travel, new energy, and electric cars. Conversely, the SMEs and startups category covers sectors including food, health, technology, financial technology, and e-commerce.

The Deputy Chairman of the Oman Investment Authority, Mulham Bashir Al Jarf, said these projects are evidence of the Authority's commitment to reaching the strategic objectives defined for the Oman Future Fund. He underlined that these initiatives are meant to boost the local economy, forward important industry areas, and encourage cooperation with the business sector. The projects also seek to draw outside capital and create fresh commercial prospects for local SMEs and startups.

Since its founding on January 17, 2024, this statement represents the first investment proposals for the fund. With almost 210 applications submitted, highlighting the fund's popularity and the confidence investors have in Oman's economic potential, both local and foreign investors have responded remarkably.

Among the direct initiatives underlined are three important undertakings:

Situated in the Sohar Free Zone, this facility one of the biggest of its type worldwide is the first in the Middle East specifically targeted at the polysilicon sector. With an amazing yearly capacity of 100,000 tons, the factory is vital in growing downstream renewable energy businesses, especially in solar panel manufacture.

Working with the Chinese IDG Capital Fund known for its varied investment portfolio this project is IDG Oman Investment Fund. Focusing on industries including information and communications technology, renewable energy, and electric cars, the fund seeks to invest in Oman alongside growing Chinese businesses.

Working with developing Chinese businesses in sectors including information and communications technology, energy, tourism, and agriculture, this project aims to invest in the Omani market by means of a partnership with the Chinese EWTP Capital Fund.

Direct local projects funded by the Oman Future Fund have their investment plan based on lending agreements or partnerships. Emphasizing growth-oriented projects, certain criteria direct these investments, including a maximum ownership position of 40% for the Fund in any specific project. Usually, investments in these initiatives vary from OR5 million to OR100 million (about $13 million to $260 million).

The Fund uses a partnership or venture capital strategy for initiatives involving small and medium businesses, caps individual investments at OR5 million ($13 million). This approach guarantees that the Fund does not acquire majority control and emphasizes instead on supplying funds meant to support development and expansion for these businesses.