Oman Communications and Information Technology (OICT) group, a subsidiary of Oman Investment Authority (OIA), has signed five agreements during its annual meeting, to expand its investments and drive the telecom and information technology sector (IT) growth in Oman.
The first agreement was signed with Oman-based Rihal Company, an in-house software development company, to develop artificial intelligence (AI) products and data, as well as invest in Omani human resources in the Sultanate of Oman.
The second agreement with an Omani firm, seeks to facilitate the development of digital solutions and enhance clouds services. Oman ICT has signed the third agreement with Phaze Ventures, a venture capital firm, to expand the base of private sector investment capital in the Sultanate of Oman.
The fourth agreement was inked with a Blockchain company to share Oman’s ICT quota and become a commercial partner of the first telecom service provider in the sultanate, Omantel, with the goal of building technical resources, blockchain, and emerging techniques.
The fifth agreement, signed jointly with Onsor Technologies, the first computer design and manufacturing company in Oman, Blockchain Solutions and Services company and Momkin company, an affiliate of Omantel and a company specialized in Internet of Things (IoT) solutions using French Global network provider SIGFOX’s technology in Oman, targets the establishment of a working framework for the IoT in Oman.
“Oman ICT will focus on techniques of the fourth Industrial Revolution (4IR), as well as investment in relevant strategic projects, among them the Digital Transformation Project, which is accorded the attention of His Majesty Sultan Haitham bin Tarik. The project will be implemented in cooperation and partnership with the Ministry of Transport, Communications and Information Technology.”
During the meeting, Onsor company launched its most advanced security system named “Taras”, meaning barricade, as well as the Oracle center for advanced cloud service infrastructure in Oman. Meanwhile, Oman ICT announced the foundation of a digital transformation company and the start of the first broadband project in partnership with the private sector that envisages expanding the fiber optic network by the addition of nearly 30,000 residential units.