Oman Investment Authority (OIA), Oman’s Sovereign Wealth Fund, has announced a $500 million collaboration with Turkey’s state-owned OYAK Fund, as part of His Majesty Sultan Haitham bin Tarik’s state visit to the Republic of Turkey.
This joint capital allocation, with equal contributions from both entities, underscores Oman’s commitment to strengthening economic ties with global partners while advancing mutual growth and development.
This partnership will focus on investments in Oman and Turkey, with prospects for expansion into other international markets. This initiative further reinforces OIA’s ongoing strategy to establish high-value investment alliances that deliver significant financial and strategic returns.
HE Abdulsalam bin Mohammed Al Murshidi, President of the Oman Investment Authority, stated that, “We have built a global reputation and sufficient expertise to form impactful partnerships that bring tangible benefits to Oman’s economy. This latest collaboration with OYAK Fund seamlessly aligns with our strategic objectives to expand our investment network and secure meaningful returns.”
OYAK General Manager Süleyman Savaş Erdem said that, “The joint fund we have established with the Oman Investment Authority is an indication of the trust in our country and our corporation. With this fund, we will be making investments in strategic areas not only in both countries but also in different regions of the world. This partnership will strengthen our vision of being a global company.”
OYAK Fund brings significant resources and expertise to this collaboration, enhancing its potential to drive economic growth in both countries. Key industries targeted for investment include mining, metals, automotive manufacturing, logistics, chemicals, agriculture, food production, and energy. It also aims to facilitate technology transfer and localize expertise in Oman, fostering capacity building and knowledge sharing.
This agreement marks OIA’s ninth strategic partnership with global entities, building on successful collaborations with Saudi Arabia, Qatar, Spain, Brunei Darussalam, Vietnam, Uzbekistan, Pakistan, and India. These alliances have delivered positive outcomes, such as new investments, profitable exits, and increased capital allocations. The authority’s growing portfolio underscores its pivotal role in driving Oman’s economic diversification and international economic diplomacy.
