OIA announces partial restructure of the ICT sector

0
1770

هذه الصفحة متوفرة بهذه اللغة: العربية

28 July 2020

Muscat (WAF): The Omani Investment Authority (OIA) announced the restructuring of Oman ICT group, to include four companies aiming to “increase the efficiency and reduce operating expenses,” OIA said.

According to the structure announced by OIA, the group includes under its umbrella Oman Broadband Company, Oman Technology Fund (OTF), Space Communication Technologies Company, and Oman Tower Company.

OIA said that it will add “more companies operating in the communications and information technology sector under the group’s umbrella in the coming stages.”

The Omani government owns -wholly or is the majority shareholder- other companies operating in the telecommunications and technology sector.

United International Communication Investments and Projects Company LLC was established in 2016, and it owns 51% of the government’s share in the Oman Telecommunications Company (Omantel).

Technology Development and Investment Company was founded under the umbrella of the dissolved Omani Investment Fund in 2016.

Innovation Development Oman Holding (IDO) is another tech-company established in 2014 under the umbrella of the dissolved State General Reserve Fund, as a venture capital arm like OTF.

The government of Oman also holds the majority of Blockchain Solutions and Services LLC, and Oman Data Park SAOC.


Related Stories: Oman announces major shuffle in SOEs’ boards of Directors