The Oman Investment Authority (OIA) has played a central role in strengthening the Sultanate’s financial standing. This comes after Standard & Poor’s affirmed Oman’s credit rating at BBB- with a positive outlook in its March 2025 report.
OIA helped drive this improvement by applying strict governance and debt-reduction policies across its companies. From 2021 to the third quarter of 2024, the total debt of OIA subsidiaries dropped from OMR11.4 billion to OMR9.2 billion.
One notable example is the OQ Group. The company saw a major improvement in its credit profile. Its net debt-to-profit ratio improved, enhancing its financial health and long-term sustainability.
Duqm Refinery and Petrochemical Industries Company (OQ8) also reached a key milestone. It passed the Lenders Reliability Test (LRT), unlocking more than OMR800 million in shareholder guarantees.
OIA also worked with banks to renegotiate loans. These efforts made borrowing more cost-effective and flexible for its companies.
To reduce state exposure, OIA cut back government loan guarantees. These guarantees dropped from OMR3.2 billion in 2021 to OMR1.8 billion in 2024. No new guarantees were issued.
In 2022, OIA introduced a Code of Governance for its entities. This ensured better debt oversight and financial transparency. The code also aligned investments with Oman Vision 2040 and supported efficient resource use.
To boost trust with global institutions, OIA required companies to disclose financial results. This improved transparency and supported stronger credit ratings.
Foreign investment also increased. OIA’s strategic partnerships helped attract capital to key sectors and strengthened Oman’s foreign currency reserves.
These actions align with Oman Vision 2040. They reflect the OIA’s commitment to economic sustainability and to positioning the Sultanate as a leading global investment destination.
