#Oman Investment Authority #Oman #Muscat #OYAK Fund #Turkey Partnership

Oman Investment Authority Announces $500 Million Strategic Partnership with OYAK Fund

On November 29, 2024, during the state visit of His Majesty Sultan Haitham bin Tarik to Turkey, the Oman Investment Authority (OIA) unveiled a landmark partnership worth $500 million with Turkey's state-owned OYAK Fund. This collaboration, the ninth strategic partnership of OIA with global entities, underscores Oman’s commitment to strengthening economic ties and promoting mutual growth.

Overview of the Partnership

This joint capital allocation, with both entities contributing equally, is expected to focus on investments within both Oman and Turkey, with plans to explore opportunities in other international markets. The partnership will not only enhance OIA's strategy to foster high-value investment alliances but also aims to generate significant financial returns.

OIA President, His Excellency Abdulsalam bin Mohammed Al Murshidi, commented on the collaboration, stating, "We have established a global reputation and sufficient expertise to create impactful partnerships that provide tangible benefits to Oman's economy. This latest collaboration with OYAK perfectly aligns with our strategic objectives to expand our investment network and secure meaningful returns."

OYAK's Perspective

Süleyman Savaş Erdem, General Manager of OYAK, expressed confidence in the collaboration, noting, "The joint fund we have created with Oman Investment Authority is a testament to our trust in both our country and our corporation. With this fund, we will invest in strategic areas not only in both countries but also across various regions of the world. This partnership will enhance our vision of becoming a global enterprise."

Areas of Focus for Investment

The partnership focuses on key industries such as mining, metals, automobile manufacturing, logistics, chemicals, agriculture, food production, and energy. An important aspect of this collaboration will be facilitating technology transfer and expertise localization in Oman, which will foster capability building and knowledge sharing.

Previous Collaborations and Future Outlook

This agreement denotes the ninth strategic partnership established by OIA, building on successful collaborations with nations such as Saudi Arabia, Qatar, Spain, Brunei, Vietnam, Uzbekistan, Pakistan, and India. These alliances have resulted in positive outcomes, including new investments, profitable exits, and increased capital allocations.

The growing portfolio of the authority emphasizes its critical role in advancing Oman’s economic diversification and international economic diplomacy. By leveraging the expertise and resources of trusted international partners, OIA is poised to pave the way for sustained economic growth and prosperity in the Sultanate of Oman.

For additional information, please contact:
Fahad Al Toubi, Senior Specialist – Media Relations
+968 92155655
[Email]