Muscat: The Oman Investment Authority (OIA) is actively working towards enhancing its investments in advanced modern technologies and bringing them to the Sultanate of Oman. As part of these efforts, OIA has recently signed a Memorandum of Cooperation (MoC) with its Japanese counterpart. This MoC aims to explore investment opportunities in the semiconductors industry and related technologies.
The signing of this MoC took place during the visit of Iwata Kazuchika, the Japanese State Minister for Economy, Trade and Industry. Mulham Al Jarf, OIA's Deputy Chairman for Investments, expressed his views on the signing, stating that Japan is seen as the ideal partner in this field due to its strong reputation in the tech industry. OIA consistently seeks strategic partnerships on an international level to bring modern technologies to local Omani sectors. This not only contributes to the national economy but also enhances its competitiveness, creates job opportunities, and establishes businesses in these industries.
Through this MoC with Japan, OIA aims to establish its next national investment in the semiconductors industry. OIA's first national investment was made through its subsidiary ITHCA in 'GSME Oman,' a company established by the US-based 'GSME' specializing in semiconductors. After six months of testing, two Omani semiconductor chips, Oman 1 and Oman 2, were successfully developed.
This MoC also aligns with the national focus on manufacturing semiconductors by attracting international players to the local industrial scene in Oman. It also involves the development and empowerment of national talents in various industries, including electronics, telecommunications, renewable energy, medicine, SMART tech, car manufacturing, data storage, and electronic and wireless products.
