Times of Oman___The Oman Investment Authority (OIA) has announced the opening of 10 national projects with an investment value exceeding OMR750 million. The projects are distributed across a number of governorates, and several sectors, through its subsidiaries, and in partnership with local and foreign companies, coinciding with the celebrations of the Sultanate of Oman’s 52nd National Day.

“These projects aim to contribute to economic diversifi cation, developing governorates, attracting investments, empowering the private sector, and creating 860 direct and indirect jobs for citizens,” Hisham bin Ahmed Al Sheidi, Director General of Economic Diversifi cation Investments at the Oman Investment Authority, said. He said to the Oman News Agency that the 10 projects embody the agency’s strategy and objectives that are in line with Oman Vision 2040, where the agency plays its role in promoting the targeted economic sectors by implementing large projects in partnership with the private sector in various governorates.

These projects are in a competitive business environment and serves Oman’s focus towards localisation of national expertise and competencies. National Development Portfolio He pointed out that these projects come within the (National Development Portfolio) of the Oman Investment Authority, which manages a total of 160 assets and local companies, and aims to contribute to the growth and development of the Omani economy in addition to supporting the state’s general budget. Hilal Al Shidi said the projects are based on eight priorities which are fi nancial sustainability, growth in selected sectors, contribution to the gross domestic product, attracting private investors, exit, contributing to in-country value addition, synergy and integration between companies, and implementing governance and transparency structures