Oman sovereign wealth fund's total assets rise to $49.9 bn in 2023

The assets of Oman's sovereign wealth fund stood at 19.2 billion rials ($49.9 billion) at the end of 2023, up from 17.2 billion rials a year earlier, according to its annual report for 2023.

Oman Investment Authority also said in the report, released on Monday, that it recorded more than 1.7 billion rials in profit and contributed 800 million rials to the state's general budget.

The government-controlled fund's assets include state firms operating in many sectors across the Gulf nation's economy including energy, aviation, maritime and telecommunications.