Latest news with #HESaqri
Muscat Daily
21-05-2025
- Business
- Muscat Daily
MoE outlines sustainable development plans for governorates
Muscat – Ministry of Economy (MoE) convened a high-level meeting on Wednesday to present proposed frameworks and programmes for sustainable development of cities and governorates as part of the sultanate's 11th Five-Year Plan (2026–2030). Held under the patronage of H E Dr Said bin Mohammed al Saqri, Minister of Economy, the meeting included members of central technical teams drafting the plan, alongside representatives from government bodies and the private sector. It reviewed mechanisms and priorities designed to promote balanced urban and regional development aligned with the objectives of Oman Vision 2040. Participants engaged in discussions to propose recommendations for specific developmental needs of each governorate. In his opening remarks, H E Saqri said the plan builds on lessons from past development cycles and aims to adopt more integrated and effective strategies. 'It aims to enhance the competitiveness of governorates by empowering decentralisation and strengthening local governance.' He noted that one of the key objectives of the new plan is development of infrastructure and services to improve quality of life and position cities as centres of economic and cultural activity. H E Saqri added that empowering local administrations and supporting the autonomy of governorates in economic decisions are central to achieving regional development. H E Dr Said bin Mohammed al Saqri, Minister of Economy 'Directing investments towards projects that reflect actual needs and leveraging each governorate's comparative advantages to build a sustainable local economy are at the heart of the new plan.' The meeting allowed exchange of ideas and experiences to ensure development initiatives are rooted in local realities. The 11th Five-Year Plan was formulated using a scientific approach based on international best practices, past experiences and data-driven assessments. It incorporates national sectoral strategies and aligns with findings of national programmes and studies to identify key challenges and priorities.
Zawya
18-02-2025
- Business
- Zawya
Oman: MoF directs public units to award tenders up to $65k to SMEs
Muscat: Ministry of Finance (MoF) has issued Financial Circular 1/2025 directing all ministries, public authorities and government entities to award tenders for supplies, services and works valued up to RO25,000 to small and medium enterprises (SMEs), who own a Riyada card. The circular aims to strengthen the role of SMEs in the Omani economy, encouraging their participation in government tenders. In addition, the ministry stressed the importance of collaborating with the Follow-up Committee of the National Local Content System to address challenges related to the tender process. It also urged ministries, government agencies and state-run companies to liaise with internal audit units to ensure compliance with the circular. H E Said bin Mohammed al Saqri, Minister of Economy and Chairman of Tender Board, highlighted the significant impact of local content programmes. 'These programmes play a vital role in supporting the private sector, localising national industries and ensuring optimal use of public funds. One of the main objectives is to stimulate SMEs and the entrepreneurship sector, increasing their share of government tenders,' he said. He noted the tangible growth in SMEs and their expanding presence in various sectors, including economic diversification and innovation. The new move, he explained, aligns with Oman's broader social and economic priorities, fostering youth participation and entrepreneurship, ultimately contributing to a diversified and sustainable economy. The decision to raise the tender value to RO25,000 further supports the National Policy for Local Content, a key initiative aimed at economic diversification and job creation. 'By expanding government tender opportunities to SMEs, we continue to enhance the entrepreneurial sector's role in driving innovation and sustainable growth,' H E Saqri added. According to the Ministry of Economy, there are 145,750 SMEs registered with Authority for Small and Medium Enterprises Development and employ 192,714 workers from the national workforce. However, despite their significant number, SMEs currently receive only 12% of government contracts. This policy shift is expected to increase their share in the coming years. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
17-02-2025
- Business
- Muscat Daily
MoF directs public units to award tenders up to RO25,000 to SMEs
Muscat – Ministry of Finance (MoF) has issued Financial Circular 1/2025 directing all ministries, public authorities and government entities to award tenders for supplies, services and works valued up to RO25,000 to small and medium enterprises (SMEs), who own a Riyada card. The circular aims to strengthen the role of SMEs in the Omani economy, encouraging their participation in government tenders. In addition, the ministry stressed the importance of collaborating with the Follow-up Committee of the National Local Content System to address challenges related to the tender process. It also urged ministries, government agencies and state-run companies to liaise with internal audit units to ensure compliance with the circular. H E Said bin Mohammed al Saqri, Minister of Economy and Chairman of Tender Board, highlighted the significant impact of local content programmes. 'These programmes play a vital role in supporting the private sector, localising national industries and ensuring optimal use of public funds. One of the main objectives is to stimulate SMEs and the entrepreneurship sector, increasing their share of government tenders,' he said. He noted the tangible growth in SMEs and their expanding presence in various sectors, including economic diversification and innovation. The new move, he explained, aligns with Oman's broader social and economic priorities, fostering youth participation and entrepreneurship, ultimately contributing to a diversified and sustainable economy. The decision to raise the tender value to RO25,000 further supports the National Policy for Local Content, a key initiative aimed at economic diversification and job creation. 'By expanding government tender opportunities to SMEs, we continue to enhance the entrepreneurial sector's role in driving innovation and sustainable growth,' H E Saqri added. According to the Ministry of Economy, there are 145,750 SMEs registered with Authority for Small and Medium Enterprises Development and employ 192,714 workers from the national workforce. However, despite their significant number, SMEs currently receive only 12% of government contracts. This policy shift is expected to increase their share in the coming years.
