MUSCAT - Oman Investment Authority (OIA) has launched Furas, a digital platform designed to give local suppliers and small and medium enterprises (SMEs) early sight of procurement opportunities across its portfolio companies, in a move that sharpens market transparency and strengthens Oman’s local content agenda.

The platform, launched under the auspices of Dr Khamis bin Saif al Jabri, Minister of Economy, currently features 290 active tenders, offering businesses a clearer forward view of procurement demand across a range of sectors.

Its central value lies in timing. Furas allows suppliers to see planned tenders three to six months before formal issuance, giving firms more time to prepare technically and financially, form partnerships, assess capacity and position themselves more effectively before bidding begins.

That matters especially for smaller Omani businesses, which often struggle not because opportunities do not exist, but because information reaches them too late for meaningful preparation.

The launch also puts harder numbers behind Oman’s local content drive. Data presented at the event showed that total spending across supply chains reached RO 1.3 billion during 2023–2025, with average local value-added spending at 32 per cent. More than 20 per cent of that spending was directed to SMEs.

Further programme results up to the end of 2025 showed that 383 products and services had been included in the mandatory local content list, with spending of RO 210 million through that channel. In parallel, 64 work packages were approved under business allocation initiatives worth RO 118 million, while 58 SMEs were qualified under supplier development programmes representing around RO 29 million.

Together, the figures suggest that the policy conversation is shifting from aspiration to execution. Rather than treating local content as a broad target, OIA is building mechanisms around procurement visibility, supplier readiness and pipeline planning.

Munir al Muneeri, OIA Vice-President for Operations, said the platform forms part of a wider set of initiatives being rolled out with OIA subsidiaries to maximise local content and innovation, while increasing economic value in line with Oman Vision 2040.

He said Furas gives suppliers a more proactive view of future opportunities, improves transparency in tender disclosure and helps businesses strengthen readiness before the official tendering stage.

OIA said the platform also serves as an integrated digital tool for supply-chain data management, helping suppliers and entrepreneurs track procurement plans and better understand future demand across its wider ecosystem.

Al Muatasim al Sariri, Director-General of Local Content and Innovation at OIA, said the authority has aligned its local content agenda with national strategies, including the framework led by the Projects, Tenders and Local Content Authority, to ensure closer policy coordination.

He added that OIA is preparing an updated local content strategy linked to its national development portfolio, positioning local content as a practical lever for economic diversification and private-sector growth.

During its pilot phase, the platform received 30 procurement plans from OIA subsidiaries, with more still being added. The public portal provides details on issuing entities, project type and expected tender timelines, alongside direct communication channels with the relevant bodies.

OIA said Furas is intended as an early market-information platform, not a tender submission channel. Companies will still need to bid through the formal procurement systems of each entity, while listed opportunities remain subject to revision as plans evolve.

The authority said earlier disclosure is expected to reduce information gaps, improve market readiness and support fairer competition, while also lifting the quality of bids by giving suppliers more time to prepare.

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