Muscat: The Future Oman Fund has signed agreements for 105 projects and investments worth more than RO583 million, strengthening Oman’s drive to attract foreign capital, expand strategic industries and create jobs as the country accelerates economic diversification.

The projects cover renewable energy, advanced manufacturing, healthcare, tourism, innovation and medical technology, according to an announcement made by the fund on Tuesday.

The investment package is expected to attract around RO182 million in foreign investment and RO176 million in local investment, while generating 2,302 planned jobs. Of these, 568 positions have already been filled.The fund’s direct commitments amount to about RO225 million.The announcement was made during an event showcasing the latest investments backed by the Future Oman Fund, a strategic initiative launched under the Oman Investment Authority to support Oman Vision 2040 and strengthen private-sector participation in economic development.

Mulham bin Bashir Al Jarf, Vice Chairman for Investment at the Oman Investment Authority, said the projects reflected the fund’s strategy of directing capital towards sectors that deliver long-term economic value, support innovation and enhance national competitiveness.Among the flagship projects is Orion Solar, which will establish an integrated solar cell and module manufacturing facility in Sohar Freezone.

The project is expected to be the first facility of its kind in the Middle East, with planned production capacity of 6 gigawatts.The fund also announced investment in the Gallant project in Salalah, which will manufacture lithium iron phosphate cathode materials used in electric vehicle batteries and energy storage systems.

The facility is expected to produce 66,000 tonnes annually, linking Oman to growing global clean-energy supply chains.Tourism also features prominently in the new investment portfolio. The fund is supporting the development of Al Sawda Island Resort in the Hallaniyat Islands, a project aimed at expanding Oman’s high-value tourism offering and supporting regional development.In the innovation sector, the fund invested in Station J11, described as Oman’s first integrated innovation hub.

The platform brings together startups, venture capital investors, research and development ecosystems and policymakers to accelerate entrepreneurship and technology-led growth.Healthcare is another key focus. The fund announced investments in global specialist funds, including Vivo Capital and Certares, each valued at RO77 million, alongside the establishment of a dedicated RO50 million Health Investment Fund targeting healthcare services, pharmaceuticals, medical technology and digital health solutions.

The latest investments underline Oman’s efforts to position itself as a regional destination for strategic capital and advanced industries, while creating new opportunities for private-sector growth and employment.Since its launch in 2024, the Future Oman Fund has expanded its activities across major projects, startups and small and medium enterprises, supporting sectors identified as priorities under Oman Vision 2040.

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