Oman: Move to attract more SMEs to transport, logistics and IT
The Small and Medium Enterprises Development Authority (SMEDA) is working with authorities to widen the role of small enterprises (SME) and start-ups in the transport, logistics and information technology sector, officials said in a session on Wednesday.
The session was attended by Halima bint Rashid al Zar'i, SMEDA Chairperson, Saeed bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology, officials and business people.
The aim of the session is to improve the attractiveness of business environment attractiveness to SMEs, develop policies that support entrepreneurs, explore promising opportunities, motivate entrepreneurs to present innovative ideas and inform the public about its programme, projects and initiatives, and provide an opportunity to discuss topics related to economic affairs.
Khamis bin Mohammed al Shammakhi, MoTCIT Under-Secretary, said: 'The transport and logistics sector is a very promising sector as there are over 20,000 companies. What concerns us is facilitating opportunities for entrepreneurs to enter so that they can get more work and increase their sources of income, and create more jobs for Omanis. We confirm that the ministry is facilitating loans, and working with the Tender Board to enrich local content with specialists.' Dr. Ali bin Amer al Shaidhani, MoTCIT Under-Secretary for Communications and Information Technology, stated: 'Opportunities exist in this sector and there are some joint initiatives that will be worked on for the benefit of owners of small and medium enterprises. There were a number of questions about commercial activities related to technology in addition to the issue of financing innovative financing tools that are different from those that exist and we will work on them with the relevant designated authorities..' The session addressed four main themes. The first was about the challenges facing SMEs and reviewing possible solutions to improve the supportive environment. The second included policies and legislation that contribute to empowering SME and start-ups, and joint government initiatives to stimulate innovation and investment. The third was about facilities and incentives through business accelerators, while the last discussed services and initiatives.
"We have submitted a proposal to regulate the logistics sector and introduce modern technology to the relevant authorities in which we can provide job opportunities for Omanis. We believe in raising the percentage of Omanization in this sector and solving some of the problems and challenges facing it." Said Mohammed al Zaidi, Chief Financial Officer of Emad Logistics Company.
According to latest figures, the total number of SMEs in the transport and logistics sector amounted to 31,044 by the end of December last year. In the information and communications sector, there are 6,355 SMEs.
© All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
a day ago
- Zawya
Bahrain signs deal with Oman to boost SMEs
Bahrain - As part of the official visit by Industry and Commerce Minister and Export Bahrain chairman Abdulla bin Adel Fakhro to Oman, a memorandum of understanding (MoU) was signed between Export Bahrain and the Small and Medium Enterprise Development Authority in Oman. The signing took place in the presence of Mr Fakhro and Oman's Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef. The MoU was signed on behalf of Bahrain by Export Bahrain CEO Safa Abdulkhaleq and on behalf of Oman by SME Development Authority (Riyada) deputy chairman Mazin bin Saif Al Busaidi. The MoU aims to support the growth of the manufacturing and industrial sectors in the two countries by developing the capabilities of small and medium enterprises (SMEs) and enabling their expansion into regional and international markets. This will enhance their contribution to GDP and support the broadening of commercial and investment cooperation between Bahrain and Oman. The MoU also establishes mechanisms for exchanging relevant information related to market research and commercial regulations, in addition to providing a package of joint services including organising official visits, participating in trade exhibitions and conferences, and conducting virtual seminars and specialised workshops. A key provision of the MoU stipulates the secondment of experts from Export Bahrain to collaborate with Oman's SME Development Authority to develop the export ecosystem and support enterprise development programmes, thereby contributing to building competitive capabilities of SMEs in both countries and enabling their expansion into regional and international markets. On the occasion, Ms Abdulkhaleq stated: 'This memorandum reflects the strategic partnership between the Kingdom of Bahrain and the Sultanate of Oman, through which we seek to open new horizons to develop the capabilities of small and medium enterprises and enhance their competitiveness in international markets, contributing to supporting the national economy and increasing income diversification.' Meanwhile, Halima Al Zar'iya, chairperson of Oman's SME Development Authority, commented: 'The signing of this memorandum with our partners in the Kingdom of Bahrain is a practical step towards achieving economic diversification goals and strengthening the role of SMEs in comprehensive development. We are confident that this cooperation will open new horizons for knowledge transfer and experience exchange and support Oman's efforts to build a competitive export ecosystem.' Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arabian Business
4 days ago
- Arabian Business
UAE SMEs optimistic as 3 in 5 report revenue growth despite cost increases: Survey
UAE SMEs continue to build on the momentum of the resilience demonstrated in recent years, according to RAKBANK's SME Confidence Index. Based on insights from more than 1,200 UAE-based SMEs, the Confidence Index measures business sentiment for small and medium enterprises. Measured against a base score of 50 the latest survey reveals a tally of 57, suggesting a stable and optimistic sentiment against a dynamic economic environment. UAE business optimism Despite a marginal drop in the overall Index score by four points from 61 in 2023 to 57 in 2024, the findings show that optimism remains steady, with over two-thirds (68 per cent) of SMEs viewing the future business environment as favourable, and more than 60 per cent reporting revenue growth over the past two years. While challenges persist, including rising operational costs, corporate tax implementation, and high borrowing costs, the overall trajectory signals adaptability and optimism among SMEs in navigating the evolving business landscape. Raheel Ahmed, Group CEO of RAKBANK, said: 'This has been a milestone month for RAKBANK's Business Banking Group, reinforcing our commitment to the UAE's dynamic SME sector. 'In a further boost to the SME ecosystem, RAKBANK and Emirates Development Bank announced a strategic AED1bn ($272m) co-financing partnership during the 'Make it in the Emirates' forum, held under the patronage of the Ministry of Industry and Advanced Technology. 'Small and medium enterprises are the backbone of every thriving economy, and in the UAE, they play a central role in driving diversification and sustainable development.' The report showcases several trends shaping the SME sector in 2025. Consumer and Retail Services remain the highest-performing sector, driven by a continued rise in consumer spending and successful adoption of new business channels. The report also highlights how SMEs across industries are prioritising product innovation and market expansion as key strategies for growth in a competitive landscape. While Consumer andRetail Services SMEs achieved a sector confidence score of 60, Construction and Manufacturing (57), Transport (57), and Trading (58) remained steady in confidence, while Public Services and Professional Services saw more notable declines to 56, largely due to increased costs and lower confidence in debt servicing. Key takeaways from the survey include: Overall confidence remains above baseline: While the Index score decreased slightly to 57 from 61 in 2024, it still signals positive sentiment across the board Revenue growth continues: More than 3 in 5 SMEs reported an increase in annual revenue over the last two financial years Optimism for smaller firms: SMEs with revenue up to AED30m ($8.2m) posted the highest confidence score at 58, while larger SMEs (AED30m-100m/$8.2m-27.2m) dipped to 55 Rising costs present challenges: Over two-thirds of SMEs experienced higher operational costs, while only 39 per cent expressed confidence in meeting debt obligations, down from last year Digital adoption is on the rise: 22 per cent of SMEs now sell their products or services online, and 45 per cent use digital banking channels monthly Sustainability is gaining attention: 55 per cent of SMEs are either on or planning to begin a sustainability journey, with 1 in 3 citing it as a short-term business objective While UAE SMEs remain optimistic, they are also navigating barriers such as increased costs of doing business, rising demand for credit, competitive pressures, and adapting to the corporate tax regime introduced in 2024. To address these issues, many SMEs are investing ambitiously in technology, operational efficiencies, and sustainability strategies aimed at long-term growth.
Gulf Business
5 days ago
- Gulf Business
UAE SMEs remain optimistic amid economic pressures, reveals RAKBANK index
Image: Getty Images/ For illustrative purposes Small and Medium Enterprises (SMEs) in the UAE are maintaining a steady sense of optimism despite rising costs and economic headwinds, according to RAKBANK's latest SME Confidence Index. The 2025 report, compiled in partnership with RFI Global, reflects a confidence score of 57, signalling continued resilience in the sector. The findings are based on responses from over 1,200 SMEs across the UAE, surveyed between October and December 2024. While the Index score has declined from 61 in 2023 to 57 in 2024, it remains above the base level of 50, pointing to overall positive sentiment. Also, 68 per cent of SMEs view the future business environment as favourable, and over 60 per cent reported revenue growth in the past two years. 'Small and medium enterprises are the backbone of every thriving economy, and in the UAE, they play a central role in driving diversification and sustainable development,' said Raheel Ahmed, group CEO of Ahmed added that the bank launched the SME Confidence Index in 2024 to capture sentiment, challenges and growth outlook. In a major move to support the SME ecosystem, RAKBANK and Emirates Development Bank announced a strategic Dhs1bn co-financing partnership during the 'Make it in the Emirates' forum, under the patronage of the Ministry of Industry and Advanced Technology. Sector trends and challenges for SMEs Consumer and Retail Services emerged as the highest-performing sector, achieving a confidence score of 60, supported by increased consumer spending and expansion into new business channels. Construction and Manufacturing, Transport, and Trading sectors scored 57, 57, and 58 respectively, showing stable sentiment. However, confidence in Public Services and Professional Services dipped to 56, largely due to higher operating costs and concerns over debt servicing. While more than three in five SMEs recorded revenue increases over the past two years, over two-thirds experienced rising operational expenses. Only 39 per cent expressed confidence in meeting debt obligations, down from the previous year. The report found that smaller SMEs (with revenues up to Dhs30m) had a higher confidence score of 58, while larger SMEs (with revenues between Dhs30–100m) registered a lower score of 55. Digital and sustainable growth in focus Digital transformation continues to gain ground among UAE SMEs. Some 22 per cent now sell products or services online, while 45 per cent use digital banking channels monthly. In parallel, sustainability is becoming a growing priority, with 55 per cent of While navigating ongoing challenges — including the corporate tax regime introduced in 2024, demand for credit, and operational pressures — many SMEs are investing in technology, talent and market expansion to strengthen their competitive edge. 'The sector's forward-looking mindset is especially encouraging,' Ahmed noted. 'We're seeing increased focus on entering new markets, investing in talent, and modernising payment infrastructure. We see our role as a partner in that journey, providing not just financial solutions but also the advisory support needed to help them grow with confidence.'
