Muscat – Oman’s sovereign wealth manager, the Oman Investment Authority (OIA), has launched a digital platform designed to give small and medium enterprises (SMEs) advance visibility of tenders issued by the authority and its subsidiaries.

The platform, named Furas — Arabic for opportunities — allows suppliers to view planned tenders three to six months before their official release, giving companies time to prepare bids, build partnerships and strengthen their financial and technical capacity.

The launch ceremony was held under the patronage of Dr Khamis bin Saif al Jabri. Minister of Economy. The platform currently lists approximately 290 active tenders across multiple sectors.

Muneer bin Ali Al Muneeri, OIA Deputy President of Operations, said the initiative was part of a broader effort to enhance local content and support innovation. “The platform provides a clear and proactive view of future opportunities and enhances transparency in the tendering process,” he said, urging suppliers and entrepreneurs to monitor the portal regularly to maximise local value creation.

Al Mutasim Said Al Sariri, OIA’s Director of In-Country Value, said the authority was developing an updated local content strategy linked to its National Development Portfolio Strategy and aligned with the Local Content Strategy of the Projects and Tendering Authority.

He said Furas operates through an integrated governance model in which OIA provides strategic oversight while its subsidiaries upload procurement plans and engage with suppliers directly.

The portal provides details including the issuing entity, project type and expected timeline, along with communication channels through which suppliers can submit inquiries. Data from the pilot phase shows 30 procurement plans have already been uploaded, with additional plans under preparation.

Officials stressed that Furas functions as an information portal, not a tender submission system. Suppliers will continue to submit bids through the official procurement channels of each OIA entity.

The platform is positioned as a tool to support Oman Vision 2040, which targets greater economic diversification and an expanded role for the private sector in GDP contribution.