#Oman Investment Authority #Oman #Muscat #OYAK Fund #economic partnership

Oman Investment Authority Announces $500 Million Collaboration with OYAK Fund

In a significant move during His Majesty Sultan Haitham bin Tarik's official visit to Türkiye, the Oman Investment Authority (OIA), which serves as Oman’s sovereign wealth fund, unveiled a strategic collaboration worth $500 million with Türkiye's OYAK Fund.

This partnership marks OIA's commitment to fostering meaningful economic ties with international partners while promoting mutual growth and development. The collaboration involves an equal contribution from both entities, emphasizing a shared vision for success in various industries.

Focus Areas of Investment

The partnership aims to channel investments primarily in Oman and Türkiye, with plans for potential expansion into other global markets. By establishing this joint fund, OIA and OYAK Fund intend to create high-value investment opportunities that promise substantial financial and strategic returns, aligning with OIA’s ongoing objective to build a robust investment network.

H.E. Abdulsalam bin Mohammed Al Murshidi, the President of the Oman Investment Authority, shared insights into the strategic goals of OIA stating, "Our expertise allows us to form impactful partnerships that yield tangible economic benefits. This collaboration with OYAK Fund is in perfect harmony with our plans to broaden our investment landscape and ensure meaningful outcomes."

On the other hand, Süleyman Savaş Erdem, General Manager of OYAK, emphasized the trust this joint venture represents for both nations. He observed that this strategic alliance will facilitate investments in key sectors, not only within their respective countries but also in diverse regions globally, thereby reinforcing OYAK's aspiration to evolve into a global entity.

Industries of Interest

The focus of this collaborative fund will traverse several key industries, including:

• - Mining and Metals: Given both countries' resource reserves, this area is poised for growth.
• - Automotive Manufacturing: As industries seek to ramp up production and innovation, this market remains a priority.
• - Logistics: With increasing globalization, a focus on logistics will enhance connectivity.
• - Chemicals and Agriculture: Investment here promises to boost local economies and sustainability efforts.
• - Energy: Both Oman and Türkiye are looking towards sustainable energy solutions to future-proof their economies.

The initiative also emphasizes technology transfer, aiming to localize expertise in Oman while promoting capacity building and fostering knowledge sharing.

Background and Future Prospects

This development signifies OIA's ninth venture in creating strategic partnerships with global entities, building a legacy that includes collaborations with countries such as Saudi Arabia, Qatar, Spain, and India. These alliances have resulted in positive outcomes, leading to increased capital flows and investment opportunities that ultimately aim to diversify Oman’s economy.

By leveraging international partnerships to enhance economic conditions, the Oman Investment Authority continues its trajectory toward sustainable growth and prosperity. The authority's extensive portfolio underscores its fundamental role in advancing Oman’s economic diversification and facilitating international economic dialogue.

For more information regarding this collaboration, inquiries can be directed to Fahad Al Toubi, Senior Specialist - Media Relations at OIA.