Tag Archives: tourism investment

The Public Investment Fund (PIF) announced that it has signed a Memorandum of Understanding (MoU) with the Oman Investment Authority (OIA). The MoU is intended to expand cooperation and investment between the two entities, enabling new and promising investments in the Sultanate of Oman’s (Oman) rapidly growing economy. The MoU provides benefits and incentives for PIF and its portfolio companies, which intend to unlock investment opportunities in Oman. The MoU also represents a significant milestone in PIF’s and OIA’s strategic partnership as it aims to expand PIF’s portfolio in Oman, building on the recent establishment of the Saudi Omani Investment Company (SOIC), a PIF-wholly owned company, which intends to invest up to USD5 billion in promising sectors in Oman. SOIC recently closed its first investment in Oman as a 20% anchor investor in Abraj Energy Services’ IPO and continues to seek other investment opportunities with OIA and its companies. Through this MoU, PIF aims to streamline its investment activities in Oman across a wide range of asset classes and target industries. The OIA is expected to explore attractive investment opportunities for cooperation and partnership with PIF, in addition to providing all aspects of support required in the Omani market.

The World Tourism Organization (UNWTO), the specialized agency of the United Nations for tourism development, and the Annual Investment Meeting (AIM), an esteemed investment platform in the Middle East, have strengthened their cooperation around common interests in tourism-related investments. The two parties will work together to harness the power of tourism to drive global development and to accelerate the implementation of the agenda 2030 and the Sustainable Development Goals (SDGS), particularly now that economies are now starting to recover from the pandemic. UNWTO and AIM, through this new Memorandum of Understanding, have formally committed to jointly support the following goals: the effective implementation of the agenda 2030 and the 17 SDGs through tourism investments, and the promotion of innovation and technology. UNWTO and AIM’s collaborative works related to investment facilitation and promotion will see them share and disseminate knowledge regarding investment policies among their stakeholders and networks and maximize foreign direct investments’ positive economic impact on the sector. UNWTO is the leading international organization in the field of tourism. It promotes tourism as a driver of economic growth, inclusive development, environmental sustainability and aims to drive the digitalization of tourism and to create an innovation and entrepreneurship ecosystem. The Organization offers leadership and support to the sector in advancing knowledge and tourism policies worldwide. AIM provides an invaluable and unparalleled opportunity for public and private entities to come together to achieve their shared vision of growth and sustainability. Anchored around the theme of “The Investment Paradigm Shift: Future Investment Opportunities To Foster Sustainable Economic Growth, Diversity and Prosperity,” this year’s AIM edition will focus on 10 key sectors that include Tourism & Hospitality, among others. In line with the two …