Oman’s Sovereign Wealth Fund, the Oman Investment Authority (OIA), has announced a landmark collaboration with Türkiye’s state-owned OYAK Fund. The joint investment initiative, valued at US$500 million, will see equal contributions from both entities. The partnership was revealed during His Majesty Sultan Haitham bin Tarik’s state visit to Türkiye, underscoring Oman’s continued commitment to strengthening economic ties and advancing mutual growth with global partners.
The OIA-OYAK Fund partnership will initially focus on investments in Oman and Türkiye, with the possibility of expanding into other international markets. The move is part of OIA’s broader strategy to establish high-value alliances that offer both financial and strategic returns, further diversifying its investment portfolio.
H.E. Abdulsalam bin Mohammed Al Murshidi, President of the Oman Investment Authority, expressed optimism over the new partnership: “We have built a strong reputation globally and possess the expertise needed to form impactful partnerships that deliver tangible benefits to Oman’s economy. This collaboration with OYAK aligns seamlessly with our strategic objectives to expand our investment network and secure meaningful returns for our country.”
OYAK’s General Manager, Süleyman Savaş Erdem, also highlighted the significance of the collaboration: “The establishment of this joint fund with OIA demonstrates the trust placed in our country and corporation. With this fund, we will invest in strategic areas not only within Oman and Türkiye but also in various regions of the world. This partnership strengthens our vision of becoming a global player.”
The fund will target investments in several key sectors, including mining, metals, automotive manufacturing, logistics, chemicals, agriculture, food production, and energy. Additionally, the collaboration aims to facilitate technology transfer and the localisation of expertise in Oman, with a focus on capacity building and knowledge sharing. This initiative is expected to create sustainable economic growth and long-term benefits for both nations.
This agreement marks OIA’s ninth major international partnership, following successful collaborations with countries such as Saudi Arabia, Qatar, Spain, Brunei, Vietnam, Uzbekistan, Pakistan, and India. These alliances have already delivered significant outcomes, including new investments, profitable exits, and increased capital allocations, further positioning OIA as a leading player in global economic diplomacy.
The Oman Investment Authority has steadily built a robust portfolio that supports Oman’s economic diversification efforts. The organisation continues to play a pivotal role in driving the Sultanate’s economic development and international engagement, ensuring Oman’s presence on the global investment stage.
By leveraging the expertise and resources of international partners like OYAK, OIA aims to accelerate economic growth, diversify Oman’s investment base, and contribute to the long-term prosperity of the Sultanate. This latest collaboration reflects Oman’s strategic vision for a more interconnected and resilient economy, poised for continued success on the global stage.
