Muscat – The heads of the world’s largest sovereign wealth funds, representing over 80% of SWF assets globally, will convene in Muscat next year, shining a spotlight on Oman and its investment opportunities.

Oman’s selection as the host of the annual meeting of the International Forum of Sovereign Wealth Funds (IFSWF), headquartered in London, consolidates Oman Investment Authority’s (OIA) role as an active member of IFSWF and showcases its efforts in attracting investments to the sultanate.

This marks the first time in a decade that the global meeting will take place in the Middle East, with the previous regional meeting being held in Qatar in 2014.

Sheikh Nasser al Harthy, Deputy President for Operations at OIA, stated that Oman was chosen by a majority vote of IFSWF members during their meeting in Baku, Azerbaijan, to host the annual meeting in the fourth quarter of 2024.

“This achievement reflects the culmination of OIA’s efforts since becoming a full member of IFSWF, participating in meetings and hosting various delegations, committees and workshops,” he explained.

Harthy emphasised that the meeting presents an opportunity for Oman, as it will be attended by the heads of the world’s largest SWFs. “Such a gathering will showcase the sultanate’s natural resources and investment prospects.”

Furthermore, the event will enhance Oman’s global reputation, attract foreign capital, and foster long-term investment relationships that contribute to economic diversification and national growth. The meeting will feature insightful discussions on investment strategies, risk management, governance, and digital and operational aspects of investment management.

This milestone elevates the status of OIA among SWFs and acknowledges its commitment to best governance practices, particularly the Santiago Principles. An OIA press release stated that these principles encompass unified procedures and standards relating to the nature of SWFs’ work, objectives, disclosure requirements, transparency, accountability, and risk management.

OIA joined as an associate member when IFSWF was founded in 2009 and became a full member on March 9, 2015.