The Oman Investment Authority (OIA) has launched the Oman Future Fund worth two billion riyals ($5.2 billion) to stimulate investments in local SMEs and attract foreign investment. Oman's Ministry of Finance will be a strategic partner in the fund, which was first announced in May last year and will also be supported by other government agencies, as well as companies including Omantel."
In its Global Focus 2024 report, Standard Chartered Bank predicted that Oman will return to its investment credit rating as early as 2024, thanks to continued improvement in financial performance, debt reduction, and commitment to economic reforms. The forecast comes despite global GDP growth slowing slightly to 2.9 percent, as a result of the world's tightest monetary tightening cycle in years, according to the report.
Source (Al Khaleej Emirati Newspaper, Edited)
