Latest news with #AbdulsalamAlMurshidi
Times of Oman
14-07-2025
- Business
- Times of Oman
Oman, Türkiye explore investment opportunities
Muscat: Abdulsalam Mohammed Al Murshidi, Chairman of the Oman Investment Authority (OIA), today received Alparslan Bayraktar, Minister of Energy and Natural Resources of the Republic of Türkiye, and his accompanying delegation, who are currently visiting the Sultanate of Oman. The meeting discussed ways to activate joint investments between the two sides under the Oman-Türkiye Joint Fund, exploring high-return growth opportunities in promising sectors that serve the economic interests of both countries, strengthen bilateral relations, and localize technology and expertise in domestic markets. Discussions also focused on enhancing investment cooperation with OYAK, the Turkish sovereign wealth fund, under the Oman-Türkiye Joint Investment Fund—established with equal contributions from both sides and a capital of USD 500 million. The fund primarily targets investments in Oman and Türkiye, along with strategic global opportunities, particularly in mining and metals, automotive manufacturing, logistics, chemicals, agriculture and food, and energy sectors. This partnership aligns with OIA's expansion and growth strategy to strengthen its international investment network and establish high-value partnerships that benefit the national economy.
Zawya
03-07-2025
- Business
- Zawya
Oman: OIA reviews investment projects before the State Council
MUSCAT: The State Council on Wednesday hosted Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Authority (OIA), to review the OIA's efforts in managing, monitoring, and governing companies to achieve the goals of Oman Vision 2040. The meeting was attended by Shaikh Abdulmalik bin Abdullah al Khalili, Chairman of the State Council, the council members, the secretary-general of the State Council, the OIA's two vice-chairmen for operations and investment, and a number of the council's employees and specialists from the OIA. At the meeting outset, the state council chairman welcomed the chairman of the OIA, pointing to the importance of such meetings in strengthening cooperation between government institutions on one side and the State Council on the other side. These meetings, he said, aim to shed light on the programmes and initiatives implemented by various state institutions as well as the goals they are working to achieve and the challenges they face. The presentation highlighted the most prominent features of the OIA's performance in 2024, its investment portfolios, the geographical distribution of assets, the Generations Portfolio and its developments for 2024 and foreign investment objectives. It also addressed the features of the National Development Portfolio and its developments for 2024, the OIA's procedures, and examples of the programmes and initiatives it has implemented to improve the performance of its subsidiaries. The chairman of the OIA shed light on the Rawabet Programme, the OIA's corporate governance system and the Oman Future Fund. The chairman of the State Council emphasised that the meeting with the chairman of the OIA and its representatives, and their presentations to council members, provided an opportunity to review the strategies, plans and projects being implemented by the OIA and to closely examine the achievements and challenges it faces. This, in turn, enhances the role of the State Council. It also reflects the OIA's commitment to the principle of good governance. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
24-06-2025
- Business
- Zawya
Oman: OIA boosts local content spending to $688mln in 2024
MUSCAT: Local content spending by Oman Investment Authority (OIA), the government's investment arm, totaled RO 265.5 million in 2024, OIA President Abdulsalam bin Mohammed al Murshidi revealed on Sunday. Addressing the Authority's annual media briefing, Al Murshidi stated: 'OIA has fulfilled its role in maximizing local content and supporting small and medium enterprises (SMEs), with spending on SMEs reaching RO 265.5 million by the end of 2024. Of this amount, RO 139 million was allocated to Riyada card holders, increasing the share of SMEs in total supply chain expenditures to 19.8 per cent.' According to the Authority's 2024 Annual Report, the share of local content contractual expenditure within OIA and its subsidiaries rose from 30 per cent to 32.4 per cent in 2024. The contribution to local content is part of OIA's strategy of creating an enabling environment for entrepreneurs, SMEs and innovative startups, particularly those which are adopting and localising advanced technologies and retaining investment capital domestically. This, in turn, drives development, enhancing economic diversification and boosting national competitiveness. In-Country-Value (ICV) development is a main pillar of OIA's objectives. In 2024, the Authority advanced its Ring-Fencing Programme, which is designed to increase the market share of local companies by allocating specific business scopes to Omani firms exclusively. A total of 32 ring-fenced domains were approved in 2024, enabling business opportunities worth RO 71 million to be channeled to local firms in these domains. OIA President Abdulsalam bin Mohammed al Murshidi speaking at the media briefing on Sunday. Furthermore, 38 small and medium enterprises were suitably developed to receive a total of RO 11 million in contracts under its Vendor Development programme. Moreover, OIA launched of the third edition of the mandatory list programme, which stipulates the types of services and products that OIA companies are required to procure from Omani businesses. Included in the latest edition are 311 products and services provided by local vendors. Additionally, the authority implemented a new performance monitoring system for the programme in 2024. Furthermore, in line with maximising local content and empowering small enterprises, the Authority issued a revised version of its procurement and tender policy which obliges contractors to meet specified Omanisation rates. The policy also contributed to improving incentives provided to SMEs and Riyada card holders.
Times of Oman
19-05-2025
- Business
- Times of Oman
Oman and Belarus sign agreement to establish joint committee
Minsk: The Sultanate of Oman and the Republic of Belarus signed an agreement in the Belarusian capital, Minsk today, to establish a joint committee aimed at boosting cooperation across various fields between the two countries. The signing ceremony was attended by HH Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports, and Youth, and Viktor Aleksandrovich Lukashenko, President of the Belarusian Olympic Committee and Special Envoy of the President of Belarus to the GCC states. The agreement was signed on behalf of the Government of the Sultanate of Oman by Abdulsalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority (OIA), and on behalf of the Government of Belarus by Maxim Ryzhenkov, Minister of Foreign Affairs. Also present at the signing ceremony were Hamoud bin Salim Al Tuwaih, Ambassador of the Sultanate of Oman to the Russian Federation and non-resident Ambassador to the Republic of Belarus, along with a number of Belarusian officials.
Zawya
14-05-2025
- Business
- Zawya
Oman: OIA companies repay $4.6bln of debt in 2024
MUSCAT: The 9th Rawabet Forum, showcasing the many innovations and achievements of Oman Investment Authority (OA) and its subsidiaries, was held under the auspices oaf Dr Khamis Saif al Jabri, Chairman of the Oman Vision 2040 Implementation Follow-up Unit. Also present were the board chairpersons and CEOs of OIA companies. OIA highlighted its role in achieving the national agenda across various fields, with a particular focus on developing Oman's human capital. Over the past four years, more than 6,500 jobs have been created for Omanis within the Authority and its subsidiaries, achieving an Omanisation rate of 77.7 per cent out of a total workforce of 41,000 employees. Abdulsalam al Murshidi, President of OIA, stated that the Authority recognizes its role not only in generating returns, but also in achieving the national agenda by contributing to economic diversification, maximizing in-country value, transferring knowledge and technology, creating job opportunities for Omanis, and building an institutional framework that exemplifies good governance and sustainability. The Authority also showcased some of its efforts in ICV. Among those efforts are integrating it into the corporate performance scorecards of its subsidiaries, in addition to launching a social investment policy, which has been in effect since Q1 2024. Additionally, the Authority highlighted its efforts to reduce its subsidiaries' indebtedness, aiming to enhance their capacity for investment and growth, improve their credit ratings, and enable them to generate profits and drive economic development. In 2024 alone, the Authority succeeded in repaying over RO 1.8 billion of its subsidiaries' debt. The Authority also presented the latest developments in the National Development Fund (NDF) and its newly launched strategy. Since its establishment in 2021, the Fund contributed over RO 3 billion to the state's General Budget and exceeded RO 8 billion in capital investment spending across various projects in priority sectors aligned with Oman Vision 2040. In addition, the Fund focused on synergies between its subsidiaries, recognizing the importance of collaboration to unify visions and promote collective efforts towards achieving the national goals. Notable examples of this include the collaboration between be'ah and most of the other subsidiaries, where be'ah manages industrial and hazardous waste produced by the companies. Another example is the cooperation between ITHCA and several subsidiaries to develop advanced technological solutions. Furthermore, OIA launched the National Development Fund Strategy in to enhance its role in supporting Oman Vision 2040, a role it has played since its establishment. The Authority recapped its focus areas for the first five years of its establishment, clarifying the future direction, which aims to maximize its role in achieving the objectives of Oman Vision 2040. The strategy set goals aligned with the vision, including leading the energy transition by relying on renewable energy sources and hydrogen to contribute to achieving Net-Zero by 2050, enhancing value-added downstream activities and localizing sectors, boosting Oman's competitive advantage, and exploring new areas to enhance community welfare. These objectives align with the pillars of Oman Vision 2040, which are to create a sustainable environment, a competitive economy, and a society of creative individuals. During the forum, several agreements were also signed. ASYAD Group signed an agreement in partnership between Hafeet Rail Company and Takatuf Oman, aiming to qualify Omani talents in the transportation and logistics sector. Additionally, ASYAD Supply Chains signed an agreement with Minerals Development Oman to provide land and sea logistics services for the Yanqul Copper project. Mazoon Mining secured a financing deal of $270 million from several local and regional banks. The company also signed multiple construction and service packages with specialized project implementation companies, including ASYAD Group, the Oman National Engineering and Investment Company (ONEIC), and STRABAG Oman.
