Oman’s sovereign wealth fund is setting up a second fund to invest in Vietnam, with initial capital of US$200 million.
The Oman Investment Authority (OIA) and Vietnam’s State Capital Investment Corporation have signed a pact to establish the Vietnam New Era Growth Fund, the wealth fund says in a statement on June 11.
OIA’s first fund, the Vietnam-Oman Investment Fund, was launched in 2008 and has invested $400 million in the Southeast Asian country.
According to Nasser Suliman Al Harthi, OIA’s deputy president for operations, the wealth fund has invested in fast-growing areas like science and innovation through the first fund.
“The upcoming fund will target any opportunity that offers real value to both countries,” he says.
OIA had $50 billion of assets under management as of end-2024.