The Oman Investment Authority announced the completion of preparations to host the largest meeting in the history of the Global Forum for Sovereign Wealth Funds since its establishment in 2009, where the heads and members of more than fifty sovereign funds from 46 countries around the world will meet in Muscat.
A group of the most prominent speakers at the global and regional levels will participate in the conference accompanying the meeting, including Elon Musk, CEO of SpaceX and Tesla, who will participate virtually, Engineer Salem Al-Awfi, Minister of Energy and Minerals, and Abdul Salam Al-Murshidi, Chairman of the Omani Investment Authority, along with Robert. Smith is the richest African American, Antonio Crasis, CEO of Valor, and Yan Yu, legal advisor at the International Monetary Fund.
A prominent position for the Sultanate of Oman
The Sultanate of Oman’s hosting of this important global event confirms its prominent position on the world map and its pivotal role through the Omani Investment Authority in strengthening international relations and forming strategic partnerships, as the Authority won the hosting by a majority of the forum members’ votes, with a percentage of 63.64%, in a competitive stage that took place in November of 2022 after Focusing on a set of capabilities, the most important of which is the strategic location of the Sultanate of Oman, which is less than 7 hours away from half the world’s population, and its concentration in a pivotal region with a history and present in sovereign wealth funds, in addition to the natural and historical components that qualify it to provide a unique tourist experience, as well as the presence of infrastructure. And the required facilities of international standards.
Opening new horizons for economic integration
Sheikh Nasser bin Sulaiman Al Harithi, Vice President of the Oman Investment Authority for Operations, said that hosting embodies the Sultanate of Oman’s endeavor to open new horizons of economic integration with global sovereign wealth funds and enhance investments with them, especially since the meeting will be attended by officials of the largest sovereign funds in the world who manage assets exceeding their total value. 8 trillion US dollars, which represents an opportunity to introduce them to the investment potential of the Sultanate of Oman, create partnerships with them to invest in the targeted sectors, and open horizons for building long-term investment relationships that will contribute positively to economic diversification efforts and development of the national economy.
A program that introduces guests to Omani culture
For his part, Duncan Bonfield, CEO of the International Forum for Sovereign Wealth Funds, expressed his admiration for the program prepared by the Oman Investment Authority for the meeting, explaining that it includes a wide range of meetings and dialogue sessions.
The meeting will also elect a new Board of Directors for the International Forum from a record number of candidates for the elections.
Duncan Bonfield said: “I believe that this level of interest in the forum shows that the organization is in good shape, and it is fortunate that Muscat is a wonderful embodiment of this. It is a wonderful city and our members will enjoy seeing the stunning scenery of the Sultanate of Oman, meeting the Omani people and learning about their culture.”
Global changes in the investment sector
The conference accompanying the meeting will review the latest topics related to global changes in the investment sector, such as energy transformation, artificial intelligence, supply chains and governance, in addition to the social dimension in directing these investments.
The meeting is also an opportunity to meet with senior executives from various sovereign wealth funds to discuss the most prominent contemporary global issues, exchange views on various investment and economic topics, and talk about the challenges facing sovereign wealth funds.
Investing in the “Omani dimension” of hosting
In order to invest in this global event to achieve local added value that embodies the principle of the “Omani dimension,” the agency worked to include 15 speakers of Omani competencies in the conference agenda, giving them the opportunity to meet international speakers and share with them ideas and theses that serve the work of sovereign wealth funds.
The conference agenda topics were also chosen to be of relevance and interest to the Omani economic agenda, including the development and growth of the roles of sovereign wealth funds, the impact of energy transformations on the investment landscape in developing economies, the need to strengthen governance in sovereign wealth funds, and supply chains in light of a changing world, in addition to… Investment opportunities in green hydrogen, investment and joint financing within the frameworks of sovereign wealth funds, with the aim of learning about the tourism, economic and historical components that the Sultanate of Oman abounds with.
The agency also prepared a busy program for the forum’s guests, which includes visits to Nizwa Fort, Al Aqar Quarter, the Oman Museum Through Time, Al Mirani Castle, and the Royal Opera House in Muscat.
“The Omani Mandoos” is the forum’s logo
To highlight the roots of Omani culture and heritage, the Authority chose “Al Mandoos” as the slogan for the annual meeting, as it highlights the concepts of prosperity, sufficiency, trust, communication, and creativity, which are among the most important concepts that contribute to achieving the visions of the International Forum for Sovereign Wealth Funds and its mission, and enhance the investment directions of the Sultanate of Oman towards achieving Sustainable growth and protecting the wealth of generations.
The logo also combines, through traditional symbols and inscriptions, the historical and cultural importance of the Sultanate of Oman and its aspiration for the future, in a way that balances the nobility and authenticity of the past and the advancement of modern values in a rapidly developing global economy.
A coin and stamp celebrating the global event
The commemorative coin, which will be issued by the agency in cooperation with the Central Bank of Oman, documents the hosting in Muscat, and reflects the essence of authentic Arab art and the ancient maritime history of Oman, through an exceptional design that highlights the creativity of the Omanis and their rich cultural heritage.
The commemorative coin is the first coin issued by the Central Bank of Oman in four years, and the first to carry a unique serial number, making it a rare masterpiece that collectors compete for. Its issuance aims to be a distinctive souvenir for the forum’s guests, motivating them to discover more of Oman’s unique treasures.
The postage stamp, which will be issued by the agency in cooperation with Oman Post, with a creative design, reflects the message of “Oman, the land of opportunities,” and enhances the Omani identity rooted in welcoming guests, as it contains a group of landmarks that all embody the cultural, historical and commercial richness of the Sultanate of Oman.
Close relationship with the International Forum of Sovereign Wealth Funds
Since joining the International Forum for Sovereign Wealth Funds when it was established in 2009, and then obtaining full membership in 2015, the Oman Investment Authority has been working to embody Omani economic diplomacy, enhance its role among all global investment funds, and adhere to the Santiago Principles emanating from the Forum, which are concerned with By enhancing transparency and accountability in asset management, in addition to the agency’s interest in participating in the forum’s periodic meetings aimed at enhancing international cooperation, exchanging knowledge and experience, facilitating and exchanging discussions on the challenges and opportunities facing funds, and exchanging best practices in the fields of investment and management.
Hosting partners
Based on the principle of cooperation aimed at making this important hosting a success, the Authority has cooperated with a group of governmental and private institutions to complete preparations for it, most notably the Ministry of Heritage and Tourism, the “Oman Investment Bank”, “Omran Group”, “Asyad Group”, “Omantel” and the “Ominvest” company. The “OQ” group, the “Hydrome” company, and the “Idhaqa” group, in addition to the Office of the Governor of the Interior, the “Oman Through Time” Museum, the Royal Oman Police, the Ministry of Health, the Royal Opera House, and the Central Bank of Oman.
Source: RT
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**Interview with Sheikh Nasser bin Sulaiman Al Harithi, Vice President of the Oman Investment Authority for Operations**
**Editor:** Thank you for joining us, Sheikh Nasser. Oman is set to host the largest meeting in the history of the Global Forum for Sovereign Wealth Funds. What does this event mean for Oman and its position in the global investment landscape?
**Sheikh Nasser:** Thank you for having me. Hosting this significant gathering highlights Oman’s strategic role on the international stage. It reflects our commitment to strengthening economic ties and building strategic partnerships with global sovereign wealth funds. With over fifty funds from 46 countries attending, it’s an opportunity to showcase Oman’s investment potential and to explore future collaborations.
**Editor:** Can you elaborate on the expected outcomes of this meeting?
**Sheikh Nasser:** Certainly. The meeting aims to facilitate discussions around investment opportunities across various sectors within Oman. With the collective assets of the sovereign funds exceeding $8 trillion, this presents a unique chance for us to attract investments that can contribute to our economic diversification and development agenda. Moreover, we hope to establish long-term relationships with these funds.
**Editor:** The conference will also include discussions on global investment topics. Why are these discussions important for the attendees?
**Sheikh Nasser:** The world of investment is ever-evolving, and topics like energy transformation, artificial intelligence, and supply chain governance are critical today. By addressing these issues, we aim not only to understand global trends but also to contribute to shaping future investment strategies. This will help our attendees navigate the contemporary challenges and opportunities in the investment sphere effectively.
**Editor:** It’s stated that the agenda is designed to introduce guests to Omani culture. How does this integration of culture benefit the event?
**Sheikh Nasser:** Incorporating Omani culture into the agenda is vital for creating a memorable experience for our guests. It allows them to appreciate the richness of our heritage while fostering connections. We have planned visits to historical sites and cultural highlights in Oman, which we believe will enhance the overall experience and showcase the beauty and hospitality of our nation.
**Editor:** Lastly, could you tell us about the significance of the commemorative coin and postage stamp being issued for this event?
**Sheikh Nasser:** The commemorative coin and postage stamp symbolize the essence of Omani culture and our aspirations for the future. They serve as unique souvenirs that highlight our rich heritage while promoting the message of Oman as a land of opportunities. We hope these tokens encourage our guests to explore more of what Oman has to offer, thereby fostering greater interest and investment in our country.
**Editor:** Thank you, Sheikh Nasser. We look forward to seeing the outcomes of this historic event and its impact on Oman’s investment landscape.
**Sheikh Nasser:** Thank you for the opportunity. We’re excited to host and hope for fruitful discussions and partnerships.
