#Oman Investment Authority #Oman #Muscat #OYAK Fund #Sultan Haitham

Oman Investment Authority's $500 Million Deal with OYAK Fund

In a major strategic move aimed at fostering economic cooperation and investment growth, the Oman Investment Authority (OIA) has announced a significant partnership worth $500 million with Turkey's OYAK Fund. This announcement came during the state visit of His Majesty Sultan Haitham bin Tarik to Türkiye, marking a pivotal moment in the economic relationship between Oman and Turkey.

This collaborative effort entails equal capital contributions from both the OIA and the OYAK Fund, reflecting their shared commitment to enhancing bilateral economic ties and mutual growth. The partnership is set to focus primarily on investments within Oman and Türkiye, with potential expansions targeting other international markets.

S.E. Abdulsalam bin Mohammed Al Murshidi, the Chairman of OIA, emphasized the authority's growing reputation on the global stage and its capacity to form partnerships that yield tangible economic benefits for Oman. He stated, "This new collaboration with the OYAK Fund aligns perfectly with our strategic objectives to extend our investment network and ensure substantial returns."

On the other hand, Süleyman Savaş Erdem, the CEO of OYAK, expressed optimism about the partnership, stating, "The joint fund established in collaboration with the Oman Investment Authority signifies the trust placed in our country and our business. With this fund, we aim to invest in strategic sectors not only in our two nations but also across various regions worldwide, reinforcing our vision of a global enterprise."

The collaboration will target several key industries, including mining, metallurgy, automotive construction, logistics, chemicals, agriculture, food production, and energy. Moreover, it aims to facilitate technology transfer and build local expertise in Oman, promoting capacity building and knowledge sharing.

This agreement marks the ninth strategic partnership of OIA with international entities, following successful collaborations with countries such as Saudi Arabia, Qatar, Spain, Brunei, Vietnam, Uzbekistan, Pakistan, and India. These alliances have successfully led to new investments, profitable exits, and increased capital allocations. OIA's growing portfolio underscores its pivotal role in economic diversification in Oman and reinforces its position in international economic diplomacy.

By leveraging the expertise and resources of trusted international partners, OIA continues to pave the way for sustained economic growth and prosperity for the Sultanate of Oman.

For further information, please contact:
Fahad Al Toubi
Senior Media Relations Specialist
+968 92155655
[email protected]