Oman's sovereign wealth fund attracted nearly 3.34 billion Omani rials ($8.5 billion) in foreign direct investment to the Gulf country in 2024, its chief has said.

Abdul Salam Al-Murshidi, chairman of Oman Investment Authority (OIA), said investments worth nearly OMR885 million ($2.3 billion) were channeled through Future Fund Oman, which was launched by OIA to expand capital flow into the country.

"There was a qualitative leap in the performance of OIA in 2024 as it recorded profits of more than OMR1.5 billion ($3.9 billion) and managed to attract nearly OMR3.34 billion in investments to the Sultanate," Al-Murshidi told Oman's Al-Duqm free zone magazine.

He said OIA, which aims to diversify Oman's sources of income, focuses on both the local and foreign markets, with around 39 percent of its total investments concentrated in various sectors in global markets.

North America alone accounts for 19.9 percent of OIA's assets while other investments are concentrated in Asia, Europe and the Middle East and North Africa, he said.

(Writing by N Saeed; Editing by Sona Nambiar)

(anoop.menon@lseg.com)

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