Oman's sovereign wealth fund expects asset growth to USD49.9B in 2023
Date
8/20/2024 9:25:59 AM
(MENAFN) Oman's sovereign wealth fund, the Oman Investment Authority, reported a significant increase in its assets for 2023, reaching 19.2 billion riyals (approximately USD49.9 billion) by the end of the year. This represents a notable rise from the 17.2 billion riyals reported at the end of 2022. The annual report, released on Monday, highlights the fund's continued growth and robust performance across various sectors of Oman’s economy.
The report also revealed that the Oman Investment Authority achieved profits exceeding 1.7 billion riyals. Additionally, it reported holding shares worth 800 million riyals that have contributed to the state’s general budget. This financial performance underscores the fund’s successful investment strategies and its significant role in supporting the national budget.
The assets of the state-owned fund are diversified across several key sectors, including energy, aviation, maritime, and telecommunications. This diversification reflects the fund's strategic approach to balancing its portfolio and leveraging opportunities in various segments of the Gulf state's economy.
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