Oman Investment Authority Partners with OYAK Fund on Major Investment Initiative

Oman Investment Authority and OYAK Fund Collaboration

In a landmark agreement reflecting growing international economic partnerships, the Oman Investment Authority (OIA) has entered into a strategic collaboration with Türkiye's state-owned OYAK Fund. Announced on November 29, 2024, during a visit by His Majesty Sultan Haitham bin Tarik to Türkiye, the partnership represents a substantial joint investment of US$500 million, signaling both countries' commitment to enhancing mutual growth and expanding their investment portfolios.

A Commitment to Shared Prosperity

This major financial initiative is expected to target investments primarily within Oman and Türkiye, while also exploring further opportunities in international markets. With equal contributions from both OIA and OYAK Fund, this partnership exemplifies Oman’s ongoing strategy to forge high-value investment alliances capable of delivering significant financial returns.

H.E. Abdulsalam bin Mohammed Al Murshidi, President of OIA, expressed optimism about this development, stating, "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’s General Manager, Süleyman Savaş Erdem, echoed this sentiment by emphasizing the initiative’s potential, noting that it reflects the trust in their country and corporation. He stated, "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."

Targeted Sectors for Investment

The collaboration will focus on several key sectors identified for investment potential, including:

- Mining and Metals
- Automotive Manufacturing
- Logistics
- Chemicals
- Agriculture and Food Production
- Energy

This strategic alignment is designed not only to establish a strong economic foundation between Oman and Türkiye but also to facilitate technology transfer and localize expertise in Oman, promoting capacity building and knowledge sharing.

Building a Global Network

This partnership earmarks OIA's ninth strategic alliance with global wealth funds, reinforcing their role in Oman’s economic diversification efforts. Previous collaborations have successfully involved countries such as Saudi Arabia, Qatar, Spain, Brunei Darussalam, Vietnam, Uzbekistan, Pakistan, and India, which have resulted in new investments, profitable outcomes, and increased capital allocations.

The authority’s expanding portfolio underlines its pivotal role in driving Oman's international economic diplomacy. As part of this strategic vision, OIA continues leveraging expertise and resources from trusted partners worldwide, ensuring sustained economic growth and prosperity for the Sultanate of Oman.

In conclusion, the collaboration with Türkiye's OYAK Fund is more than just an investment; it embodies a mutual commitment to foster economic resilience and shared success in an increasingly interconnected global marketplace. As Oman enhances its diplomatic ties and investment footprint, such strategic partnerships will likely play a central role in shaping the future of its economy.

For inquiries, please contact:
Fahad Al Toubi, Senior Specialist - Media Relations
+968 92155655
Email: [email protected]