Oman: Dialogue highlights SMEs role in boosting the economy
MUSCAT: In a move to strengthen collaboration and integration with key stakeholders, the Authority for Small and Medium Enterprises Development (ASMED) held its 15th dialogue session focused on enhancing opportunities for SMEs in the retail, construction and manufacturing sectors.
The session, attended by Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, brought together SMEs owners and stakeholders from across these sectors. It aligns with ASMED's ongoing efforts to improve the business environment and make it more conducive and attractive to SMEs.
The discussion aimed to amplify SMEs contributions by encouraging innovation, improving operational efficiency, fostering public-private partnerships and promoting awareness about SMEs as a vital pillar of the national economy.
The minister noted, 'Omani companies should not only focus on the local market. We encourage expansion beyond Oman. The ministry supports entrepreneurs through structured, evidence-based decision-making. Moreover, the Ministry of Labour's mandate to employ Omanis excludes those holding entrepreneurship cards.'
Key topics addressed included policies, legislation, licensing and support mechanisms that help SMEs develop creative solutions and form strategic partnerships. The session also opened the floor for questions, enabling business owners to share challenges and suggest viable solutions.
Oman is working towards a robust industrial future in line with national aspirations. In the past five years, significant milestones have been achieved in the industrial sector. The government is now focused on enhancing the competitiveness of national products, both locally and internationally.
Emphasising the importance of local content, the dialogue reinforced its role in developing economic infrastructure and improving the business ecosystem.
This drives productivity, boosts sector efficiency and fosters innovation, contributing to long-term economic and financial stability while promoting balanced and sustainable growth.
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
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