Salalah: The branch of the Oman Chamber of Commerce and Industry (OCCI) in Dhofar Governorate has delineated the functions of the Oman Future Fund and envisaged collaborations between the public and private sectors, particularly through the encouragement of significant investments and the support of small and medium enterprises (SMEs).
To this end, the OCCI branch in Dhofar has organized a briefing today to acquaint entrepreneurs and stakeholders with these initiatives.
Rashid Sultan Al Hashmi, the Senior Investment Manager of the Oman Future Fund, delivered a presentation that was both informative and visually engaging. He outlined the fund's impressive portfolio, which stands at OMR2 billion over a span of five years, with an annual investment of OMR400 million.
Al Hashmi elaborated on the fund's strategy to lead investments in local projects through partnerships or lending, with investment ranges extending from OMR5 million to OMR100 million, with a maximum ownership stake of 40%. He further mentioned that the fund's investment in small and medium enterprises and start-ups could potentially reach up to RO 5 million through equity share partnerships.
He emphasized that the fund's investment focus is not limited to the oil, gas, and real estate sectors. "The overarching goal of the fund is to consolidate the economy, empower the private sector, support small and medium enterprises, encourage venture capital, contribute to economic diversification, promote investment partnerships, integrate with government financing projects, and attract investors," Al Hashmi stated.
The event also featured discussion panels aimed at clarifying the application process, evaluating project proposals, understanding lending conditions, learning about the funding scheme, the requirements for business plans, licenses, and corporate commercial registration.
