DUBAI - The Oman Investment Authority on Wednesday launched a 2 billion rial ($5.2 billion) fund to stimulate investments in small and medium-sized local companies, and attract foreign investment, it said in a statement.

Oman's finance ministry will be a strategic partner in the Future Fund Oman, first announced in May last year, which will also be supported by other government agencies as well as companies including Omantel.

($1 = 0.3850 Omani rials)

(Reporting by Jana Choukeir and Clauda Tanios; Writing by Rachna Uppal; Editing by Andrew Heavens)