Muscat: Elon Musk, the CEO of SpaceX and Tesla, has called on sovereign wealth funds to invest in artificial intelligence technologies.
He was addressing virtually the largest-ever gathering of the International Forum of Sovereign Wealth Funds (IFSWF), to be held in Muscat from November 3-6.
More than 50 sovereign wealth funds from 46 six countries are meeting at the forum, which was launched in 2009.
The event includes a high-profile conference featuring global speakers, such as Elon Musk of SpaceX and Tesla, the Minister of Energy and Minerals, Salim al Aufi, OIA chairman Abdulsalam al Murshidi, and other international leaders.
The OIA chairman in his speech stressed the importance of this meeting and the accompanying conference, as it focuses on the latest global changes in the investment sector, such as energy transformation, artificial intelligence, supply chains, and governance.
Robert Smith, an American businessman, in his speech spoke on the importance of optimally exploiting artificial intelligence technologies, whether at the level of governments or the private sector; and there are many investment portfolio companies currently exploiting these technologies in their operations.
His Highness Sayyid Theyazin bin Haitham al Said, Minister of Culture, Sports, and Youth, patronized the opening of the meeting.
Hosting this prestigious event reinforces Oman’s growing influence in the global investment landscape. OIA won the bid to host with a decisive 63.64% of votes, underscoring Oman’s appeal as a strategic meeting point.
Situated within seven hours of half the world’s population, Oman offers unparalleled connectivity, bolstered by its rich cultural heritage and advanced infrastructure. This unique blend enhances Oman’s capacity to foster international partnerships and investments, positioning it as an attractive hub for economic collaboration.
Shaikh Nasser al Harthy, Deputy President for Operations at OIA, highlighted the potential of the forum to open doors for economic integration with sovereign wealth funds that collectively manage over $8 trillion in assets. “This gathering enables Oman to showcase its investment potential and forge partnerships that support our economic diversification goals,” he said. This event sets the stage for discussions that could shape long-term, mutually beneficial investments aligned with Oman’s national objectives.
IFSWF CEO Duncan Bonfield expressed his enthusiasm for the program OIA has crafted, which includes meetings, panel discussions, and an election for a new board of directors. Attendees will also experience Oman’s cultural richness, with excursions to landmarks like Nizwa Fort and the Oman Across Ages Museum. Bonfield emphasized the appeal of Muscat as a scenic backdrop, enhancing the forum experience with Oman’s stunning landscapes and welcoming spirit.
The forum’s conference will delve into pressing topics such as the energy transition, artificial intelligence, supply chains, and sustainable governance. These discussions aim to facilitate knowledge exchange on current global investment challenges and opportunities. A highlight will be contributions from 15 notable Omani speakers who will share insights aligned with Oman’s economic priorities, including renewable energy, governance, and green hydrogen.
Reflecting Oman’s cultural heritage, the forum’s logo features the Mandoos, symbolizing prosperity, creativity, and trust—values that resonate with both OIA’s mission and Oman’s vision for sustainable growth. To commemorate this global event, OIA and the Central Bank of Oman will issue a special coin, while Oman Post will launch a commemorative stamp promoting Oman as a “Land of Opportunities.”
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