Latest news with #NationalAgenda
Observer
02-08-2025
- Business
- Observer
OIA injects RO 7 bn into state budget
BUSINESS REPORTER MUSCAT, AUG 2 The Oman Investment Authority (OIA) has pumped over RO 7 billion into the state budget to continue the role initiated by the State General Reserve Fund since 2016. Other contributions include enhancing investor confidence, improving the investment climate in Oman, and reducing companies' debt by 47% by the end of 2024. Details about OIA's major contributions to the national economy over the past five years have been highlighted in an interview by Sultan al Habsi, Chairman of OIA's Board, in the latest edition of Enjaz & Eejaz, OIA's quarterly bulletin. Al Habsi also discussed the dual financial and economic impact of the National Development Fund (NDF), which spent over RO 8.8 billion since its establishment. Its financial importance lies in enhancing financial stability, reducing the state's budgetary burden, and stimulating national economic activity. Economically, it is strategically aligned with Oman Vision 2040 as these projects focus on high-impact sectors, helping diversify the productive base, generate local employment, and strengthen supply chains. In the same interview, Al Habsi clarified the Board's role in steering investment decisions and ensuring long-term financial sustainability. The Board is tasked with approving OIA's vision and strategy, overseeing major investment decisions, asset allocation, policy approval, and its companies' governance, ensuring, as he described, that OIA remains 'a trusted custodian of Oman's wealth, investing for present and future generations in alignment with Oman's national interests.' Recognising its national responsibility to contribute to development and achieve the goals of Oman Vision 2040, OIA highlighted its 'National Agenda', a set of development-oriented commitments including attracting foreign investment, reducing its companies' debt, developing human capital, maximising local content, and supporting the national digital transformation journey. OIA has made tangible progress toward these goals. In 2024 alone, the NDF and FFO attracted more than RO 3.3 billion in foreign investments, while the divestment programme drew over RO 1.5 billion. OIA also cut debt by more than RO 2.5 billion by the end of 2024. It prioritised human capital development through initiatives like the 'Nomou' and 'Mu'tamad' programmes, positioning people as drivers of growth. It also focused on maximising local content, issuing policies and guiding its companies to adopt and enhance local content practices. Programmes like the 'Vendor Development Program' helped develop 58 small and medium enterprises (SMEs) between 2023 and 2024, in addition to initiatives such as the 'Mandatory list', 'Ring Fencing', and the 'Qimam' Hackathon. These efforts led to an increase in SME spending to RO 265.5 million in 2024. On the digital transformation front, OIA aligned its internal digital strategy with the national plan under Oman Vision 2040.
Zawya
24-03-2025
- Business
- Zawya
Abu Dhabi University joins 4th Generation University initiative to elevate societal impact in higher education
UAE, Abu Dhabi: In a significant step towards enriching innovation and enhancing its global academic presence, Abu Dhabi University (ADU) has officially joined the 4th Generation University (4GU) initiative. This pioneering global community unites leading universities dedicated to reshaping education, advancing research, and driving societal development to exchange knowledge, expertise and best practices. By aligning with the 4GU initiative, ADU positions itself as a vital cornerstone of regional innovation ecosystems, expanding its contributions beyond traditional education and research. Through dynamic engagement with renowned institutions worldwide, ADU seeks to harness data-driven insights that will empower its evolving role in the higher education landscape. Professor Ghassan Aouad, Chancellor of Abu Dhabi University, said:"In today's rapidly evolving global landscape, initiatives like the fourth Generation University are essential for cultivating the innovation and agility required to tackle the complex challenges of our time. At ADU, we are committed to not only advancing academic excellence but also empowering our students and faculty with the tools they need to drive meaningful change in the region and beyond. By collaborating with distinguished institutions worldwide, we can harness diverse insights and pioneering strategies, ensuring that our graduates are equipped to thrive and lead in an interconnected world. This partnership exemplifies our vision of redefining higher education as a dynamic force for societal progress and transformative growth.' The alliance with 4GUcommunity will enable ADU to exchange transformative knowledge and best practices, ensuring that the value of higher education is upheld and amplified. The university will also gain access to valuable data-driven insights to enhance collaborations with regional and international partners, contributing to the development of a shared impact framework and reinforcing its thought leadership in higher education innovation. This milestone underscores ADU's commitment to shaping the future of education and research, reinforcing its role as a driver of innovation and societal transformation in the UAE and beyond. To learn more about Abu Dhabi University's programs, please visit: About Abu Dhabi University: Abu Dhabi University (ADU) is one of the region's leading academic institutions, translating the UAE Government's National Agenda to deliver internationally accredited academic programs and world-class research. Established in 2003, with campuses across Abu Dhabi, Al Ain, and Dubai, the University serves around 8,700 students from over 100 nationalities. The University is home to five colleges across different disciplines including arts and sciences, business, engineering, health sciences, and law, while offering a diverse range of over 50 undergraduate and graduate programs. According to the Times Higher Education (THE) World University Rankings 2025, ADU ranks 191 globally. Additionally, it ranks second in the UAE and 172nd globally for its research quality, and it is among the top three universities in the UAE, while holding the number one position in the teaching pillar. Additionally, THE Rankings has recognized the University's Business and Economics subject area as number one in the UAE and the Arab region. The University has made an impressive performance in THE Young University Rankings 2024, ranking in the 60th position globally among the world's best universities that are 50 years or younger. Furthermore, the University came in 89th place in the prestigious THE Asia University Rankings 2024 and was ranked first in the UAE for graduate employability as per the Global University Employability Ranking 2023-24. Parallelly, ADU ranks in 501 globally, according to the 2025 edition of the QS World University Rankings and received a 5-star rating in the 2022 QS Stars rating. ADU continues to empower faculty and students with state-of-the-art resources, facilities, and learning opportunities that foster innovation and support research-based problem-solving. The University maintains strong international collaborations with leading academic institutions and public and private sector organizations, with institutional accreditation from the Western Association of Schools and Colleges' Senior College and University Commission (WASC). To know more about ADU, follow on X, Instagram, Facebook, LinkedIn and YouTube. Media Contacts Weber Shandwick for Abu Dhabi University Reem Al Taie rtaie@
