The Oman Investment Authority (OIA) has launched a special programme ‘Rawabet’, which will act as a direct link between the authority and its companies to enhance their governance, besides linking all their policies and systems with the policies of OIA.
The programme will also help OIA’s affiliated companies align their policies with Oman Vision 2040.
The programme has come into being in light of the recent meetings between the chairman of the board and president of OIA, with the chairmen of boards of its affiliated companies.
Rawabet also aims to shed light on the role that the private sector plays in developing the Omani economy and promoting successful partnership in local value-added investments, in addition to promoting the securities markets, developing the national workforce, and working on the continuous development of different investment sectors in the sultanate.
In order to achieve the desired goals of the programme, OIA will involve all relevant sectors, such as investment, asset management, risk and compliance, human resources, procurement and contract operations, asset allocation, finance, information technology, corporate communications, legal affairs, and auditing. This will ensure alignment of government companies with the national goals to positively contribute in achieving the Oman 2040 vision.
The Oman Vision 2040 focuses on developing sources of economic diversification and enhancing non-oil revenue contributions to the national GDP and attract foreign direct investment to the sultanate.
Rawabet is expected to help enhance the performance of OIA’s companies in achieving their goals and overcoming all associated challenges, in addition to creating a strong partnership with the private sector that supports the involvement of a bigger share of private sector establishments.
The programme will also help create a comprehensive plan to prepare these companies’ investments in ICV initiatives and help create new job opportunities.
Rawabet will also work as a platform for the exchange of resources and expertise on best investment practices by planning joint team activities that can enhance their general performance.