The country’s sovereign wealth fund said its return on investment last year touched 8.8 per cent, which allowed it to contribute substantially to support the general budget
The fund has signed an agreement with Oman Investment Authority aiming to invest in a wide range of asset classes and target industries
The Hanoi-based company offers small loans primarily backed by vehicles as collateral and provides financial services, such as insurance and money transfers
The fund now manages over OMR16bn of assets in 40 countries and has achieved an annual average return of 10.3 per cent
ADQ and OIA recently entered into a Dhs10bn partnership agreement to facilitate investments between the UAE and Oman across sectors of common interest
The government has OMR1.83bn left to raise after so far borrowing OMR1.77bn and withdrawing OMR600m from the Oman Investment Authority
All government companies, except Petroleum Development Oman and the nation’s international investments, will fall under the new entity