MUSCAT – ITHCA Group, the technology investment arm of the Oman Investment Authority (OIA), has made a strategic $20 million investment in Movandi, a leading U.S.-based company specializing in semiconductor solutions and smart wireless technologies.
This move aligns with Oman’s Vision 2040 goals, aiming to build a knowledge- and technology-driven economy and strengthen the Sultanate’s position in AI, smart communications infrastructure, and next-generation semiconductor development.
Eng. Said bin Abdullah al Mandhari, CEO of ITHCA, said the agreement reflects the Group’s commitment to strategic partnerships that enable knowledge transfer, develop Omani talent, and establish a robust technology ecosystem. He also revealed plans to launch a national innovation centre in Oman, dedicated to smart communications, semiconductors, and R&D collaborations with universities and research institutions.
As part of the partnership, Movandi will open a new office in Muscat, serving as a regional hub for research, development, and collaboration in smart communications and AI. The company plans to expand millimeter-wave technology sales, develop satellite and data centre chipsets, and contribute to local talent training and technology co-development.
Al Mandhari affirmed that this collaboration will position Oman as a regional leader in next-generation technology and the digital economy, while cultivating national expertise in a sector critical to advanced networks and services.
