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.