The Oman Investment Authority (OIA), the nation’s sovereign wealth fund has announced that $4.95 billion
will be spent on investment projects in 2023. The investments will include about 65 new and existing projects.
Oman’s new five-year development plan (2021-2025) attaches great importance to construction development by ensuring optimum utilization of resources and investment opportunities in the various governorates in the Sultanate.
Giving a boost to the infrastructure sector, the government has allocated $13.77 billion
for development projects in its 2020 budget including:
- $7.01 BILLION - INDUSTRIAL & SERVICES PROJECTS
- $3.38 BILLION - INFRASTRUCTURE PROJECTS
- $3.38 BILLION - OIL AND GAS PROJECTS