Oman Investment Authority (OIA) is leading a shake-up of the country’s state-dominated industries, bringing greater scrutiny to the performance of government-run companies and embarking on a privatisation programme to generate revenue and boost the domestic bourse. Founded in 2020 following the merger of the State General Reserve Fund and Oman Investment Fund, OIA is key to the “Oman 2040” development plan that aims to reduce hydrocarbons’ contribution to GDP to less than 10% from around 34% in 2019.