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Muscat Stock Exchange to receive $260 mn support from Oman’s Investment Authority

Oman, Switzerland join forces to drive economic diversification, sustainability
Muscat Stock Exchange to receive $260 mn support from Oman’s Investment Authority
Muscat Stock Exchange (Photo from: Oman News Agency)

The Oman Investment Authority (OIA) has committed 100 million Omani riyals ($260.8 million) to support the Muscat Stock Exchange (MSX) through the Liquidity Fund initiative. The program is a joint effort of the OIA and the National Program for Financial Sustainability and Financial Sector Development to support market-makers and liquidity providers on the exchange.

Aown bin Abbas al Bahrani, Director General of Public Markets Investment at the OIA, noted that the initiative aligns with Oman’s Vision 2040 and aims to enhance investor confidence in the market.

The OIA’s exit plan, announced last year, included expanding the MSX through public offerings, resulting in the listing of two state-owned firms. The Authority announced its plan to divest from eight investments in 2023. Among the sectors to be exited are energy, aviation, industry, and tourism, as well as communications and information technology.

Read more: Oman’s new fund and city: An ambitious plan to attract investment, foster innovation

Oman-Switzerland Business Forum

In other news, the Oman-Switzerland Business Forum’s third edition was recently held to promote economic diversification and financial sustainability, attract foreign investment, and strengthen the private sector’s role.

The event was organized by the Oman-Switzerland Friendship Association and the Advisory Organization for the Swiss Export and Investment Program in Lucerne, with a focus on investment and cooperation opportunities in renewable energy, infrastructure, and tourism.

Eng. Khamis Mohammed Al Shamakhi, Transport Undersecretary at the Ministry of Transport, Communications and Information Technology, highlighted investment opportunities in Oman’s infrastructure sector, particularly in transport and logistics, during the forum.

For more news on Oman, click here.

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