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Oman Infrastructure Investment Fund to be established
May 23, 2018 | 10:19 PM
by ONA
Abdul Salam bin Mohammed Al Murshidi, Executive President of the State General Reserve Fund (SGRF) said a new fund, the Oman Infrastructure Investment Fund, will be established in the coming period, which aims to raise capital from investors from various countries to invest in the infrastructure sector in the Sultanate. - ONA
 
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Muscat: Abdul Salam bin Mohammed Al Murshidi, Executive President of the State General Reserve Fund (SGRF) said a new fund, the Oman Infrastructure Investment Fund, will be established in the coming period, which aims to raise capital from investors from various countries to invest in the infrastructure sector in the Sultanate.

This was announced during a dialogue session held by Meethaq Islamic Banking Board of Bank Muscat.

Al Murshidi pointed out that one of the most important sectors of the Fund for Investment is the technology sector, pointing out that the Fund seeks to invest in technology and develop or bring it into the Sultanate.

He pointed out that among the technologies that the Fund seeks to invest in are the health industries, medical equipment and Block Chains, as several specialised companies have been established in this field. He said that the Fund has many investments other than technological investment, namely investment in tourism, mining, ports, logistics and food processing.



He added that a company named Block Chains for Services and Solutions was established, adding that this company received more than 9 applications to provide solutions using Block Chains technology.

He added that the first projects to be completed is the Block Chains Platform to store governmental data and information in the Sultanate which will open in the third quarter of this year.

He pointed out that the investment projects of the Fund within the Sultanate are the establishment of specialised companies in each sector, such as mining, tourism and technical sectors where a company will be established for each sector in which specialists in that sector are supported by the Fund technically and financially, noting that currently the focus is on investment in most of the five sectors set by the state to diversify sources of income during the current five-year plan.

He pointed out that the Fund’s policy abroad is distribute the financial portfolio in more than one investment market.

However, the Fund has increased its investments in the Sultanate from 2 per cent to 10 per cent, adding that the Fund invests in a number of promising sectors, such as health, food, real estate, technology, the financial sector and other sectors.

He added that the executive management has greater powers in making the investment decision according to the study and analysis of the markets and other sources and fundamentals where the Fund works during the decision to invest in any investment market.

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