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Amid the boost in investment, the total assets of Oman Investment Authority (OIA) reached $46.6 billion in 2022, while the return on investment was 8.8%. This allowed the OIA to contribute more than $14.5 million since 2016 to the country’s budget in the form of dividends, according to a report.

“The prevailing conditions did not constitute an obstacle to OIA’s continuous journey toward promoting economic development and achieving financial sustainability in the Sultanate of Oman,” says Sultan Salim Al Habsi, Minister of Finance and chairman of the Board of Directors of OIA. “The National Development Portfolio continues to grow. 

“Performance has also improved, and production has increased, bringing profits to more than $3.6 billion,” he adds.

The report outlined that the number of employees at OIA and its companies exceeded 38,000, with a total Omanisation rate of 78%. It also stated that over 1,700 jobs out of 4,000 were eligible for potential Omanisation in the coming five years.

This is the OIA’s second annual report, which addressed its assets and their governance, the geographical distribution of its assets, and key updates concerning strategic partnerships.  

Besides Oman’s domestic investments comprising 60% of its total, the OIA has also invested in many regions, including North America, Europe, Asia Pacific, the Middle East and North Africa, Latin America, and Africa. For example, the OIA signed an agreement with Saudi Arabia’s Public Investment Fund (PIF) to explore opportunities worth $5 billion.