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Oman’s state-owned entities change hands

As the newly-formed Oman Investment Authority takes over most of the Gulf country’s public assets, questions arise as to whether this is streamlining the administration, economic reform or power consolidation?

Following his ascent to the throne in January, Sultan Haitham bin Tariq Al Said pledged to “revise the work of government companies, with a view to upgrading their performance and efficiency.”

Announced on June 4, the Oman Investment Authority (OIA) will cluster all government companies, with the exception of Petroleum Development Oman, and take over $17.7 billion worth of assets currently held by the sultanate’s sovereign wealth funds.

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