OBG report highlights Oman's economic transformation

03/07/2025 04:42 AST

A global research and consultancy firm together with Oman Investment Authority (OIA) has appreciated the sultanate's efforts to accelerate economic diversification through targeted investment in high-impact sectors.

This analysis was done by Oxford Business Group (OBG), which publishes economic intelligence on the markets of the Middle East, Africa, Asia and Latin America. Through its range of print and online products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms.

OBG together with OIA published an advisory report on the basis of their market analysis titled Oman's Strategic Vision: The Role of Future Fund Oman in Economic Transformation.

The report explored how the sultanate leveraged strategic funding mechanisms and robust governance frameworks to spur economic diversification, foster sustainable growth and strengthen its appeal as a regional business and investment destination.

It considered how collaborative partnerships are enhancing competitiveness and positioning Oman as a future-ready economy in line with the national development objectives outlined in Oman Vision 2040.

Key sectors identified in the report are green energy, tourism, ICT, manufacturing, ports and logistics, mining, fisheries and agriculture. The publication highlights the pivotal role being played by Future Fund Oman (FFO) in supporting economic transformation by backing projects that promote innovation, job creation, and the development of small and medium-sized enterprises (SMEs) and venture capital (VC) firms - which combine to underscore OIA's role as a strategic partner in unlocking the sultanate's potential.

Abdulsalam al Murshidi, President of OIA, shared his insights on the country's investment priorities and the pivotal role of FFO. "Oman's investment attractiveness has improved in recent years, driven by strategic initiatives under Oman Vision 2040 which aim to diversify the economy beyond oil and gas. Sectors such as logistics, manufacturing, mining, renewable energy and tourism have been prioritised to create a more resilient and sustainable economic landscape."

Dana Agarbicean, OBG's Country Director for Oman, said the report highlights the evolving role of targeted financing in supporting diversification efforts.

"The sultanate is taking steps to ensure that funding contributes to long-term competitiveness, particularly in high-potential sectors. FFO plays a key role in this process by supporting SMEs, VC firms and start-ups that are contributing to innovation and job creation," she noted.

Oman's Strategic Vision: The Role of Future Fund Oman in Economic Transformation includes relevant case studies and an exclusive interview with the President of OIA, offering further insight into FFO's objectives, investment strategy and role in advancing Oman Vision 2040.

Muscat Daily