Latest news with #Riyada
Zawya
14 hours ago
- Business
- Zawya
Oman: SafaQat platform attracts national investment to boost digital transformation
Muscat: The Omani startup platform SafaQat or 'Deals' which is specialised in digital purchasing and procurement has successfully completed a funding round with Oman Future Fund and the Idrak Group. This move reflects growing confidence in national technology projects and their ability to contribute to building a sustainable digital economy. SafaQat is supervised by the SMEs Development Authority (Riyada). SafaQat is a pioneering joint venture founded by four brothers from the Wilayat of Nizwa: Majed bin Majed Al Saifi, Sulaiman bin Majed Al Saifi, Ibrahim bin Majed Al Saifi and Al Moatasem bin Majed Al Saifi. The family partnership was established during the COVID-19 pandemic lockdowns. Al Moatasem, one of the founders, explained that the idea originated from a simple experience of sharing price quotes via messaging apps, which confirmed the market's readiness for competitive digital models. The brothers then began developing a prototype that evolved into a fully integrated platform. He noted that the project's launch was built on their cumulative expertise, particularly in the tendering sector. He affirmed that each brother managed a specific aspect of the platform according to his specialisation, which contributed to its steady and professional growth. He emphasised that the project's success came after overcoming several challenges related to building trust, changing market behaviours, and convincing institutions to use the platform. He stated that the solutions involved flexibility, listening to feedback, and developing the system as needed. Al Moatasem explained that the investment partnership with Oman Future Fund and Idrak Group represents a qualitative leap for the platform. He pointed out that these entities do not just provide financial support; they believe in the importance of investing in the future of the national economy and empowering Omani youth. He added that the investment will be allocated to developing the technical infrastructure, improving user experience, attracting national talent, expanding into government services, and preparing to enter new markets. Al Saifi mentioned that the number of SafaQat app users has reached 2,486, while the number of tenders and opportunities published on the platform has reached 1,260. The number of registered suppliers and companies stands at 2,784. He affirmed that these figures reflect rapid growth and increasing confidence from the local market, reinforcing the platform's position as an effective national platform for digitising procurement and supply chain operations. The SafaQat platform has earned several awards and recognitions, including second place in the live pitches at the Omani Startup Accelerator, the Best Growing Company in the Market award, a second-place ranking among Omani e-commerce stores, and a win in the "Jadarah 2024" initiative. The platform has participated in numerous local and international forums, including Comex 2024, the Economic Vision 2024 award, and represented Oman at international exhibitions such as Biban 24 in Riyadh, Web Summit in Doha, and LEAP 25 in Saudi Arabia. SafaQat utilises smart technologies, including interactive dashboards, alert systems, bid-sorting algorithms, and real-time reports. It is currently working on developing AI-powered tools for analysing bids and forecasting prices, in line with digital transformation trends. On the community side, the platform launched an initiative to train job seekers as sales representatives through practical online training content, aiming to empower youth and create self-employment opportunities. It also supports small and medium enterprises with free registration, technical support, and awareness campaigns. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
a day ago
- Business
- Times of Oman
SafaQat platform attracts national investment to boost digital transformation
Muscat: The Omani startup platform SafaQat or 'Deals' which is specialised in digital purchasing and procurement has successfully completed a funding round with Oman Future Fund and the Idrak Group. This move reflects growing confidence in national technology projects and their ability to contribute to building a sustainable digital economy. SafaQat is supervised by the SMEs Development Authority (Riyada). SafaQat is a pioneering joint venture founded by four brothers from the Wilayat of Nizwa: Majed bin Majed Al Saifi, Sulaiman bin Majed Al Saifi, Ibrahim bin Majed Al Saifi and Al Moatasem bin Majed Al Saifi. The family partnership was established during the COVID-19 pandemic lockdowns. Al Moatasem, one of the founders, explained that the idea originated from a simple experience of sharing price quotes via messaging apps, which confirmed the market's readiness for competitive digital models. The brothers then began developing a prototype that evolved into a fully integrated platform. He noted that the project's launch was built on their cumulative expertise, particularly in the tendering sector. He affirmed that each brother managed a specific aspect of the platform according to his specialisation, which contributed to its steady and professional growth. He emphasised that the project's success came after overcoming several challenges related to building trust, changing market behaviours, and convincing institutions to use the platform. He stated that the solutions involved flexibility, listening to feedback, and developing the system as needed. Al Moatasem explained that the investment partnership with Oman Future Fund and Idrak Group represents a qualitative leap for the platform. He pointed out that these entities do not just provide financial support; they believe in the importance of investing in the future of the national economy and empowering Omani youth. He added that the investment will be allocated to developing the technical infrastructure, improving user experience, attracting national talent, expanding into government services, and preparing to enter new markets. Al Saifi mentioned that the number of SafaQat app users has reached 2,486, while the number of tenders and opportunities published on the platform has reached 1,260. The number of registered suppliers and companies stands at 2,784. He affirmed that these figures reflect rapid growth and increasing confidence from the local market, reinforcing the platform's position as an effective national platform for digitising procurement and supply chain operations. The SafaQat platform has earned several awards and recognitions, including second place in the live pitches at the Omani Startup Accelerator, the Best Growing Company in the Market award, a second-place ranking among Omani e-commerce stores, and a win in the "Jadarah 2024" initiative. The platform has participated in numerous local and international forums, including Comex 2024, the Economic Vision 2024 award, and represented Oman at international exhibitions such as Biban 24 in Riyadh, Web Summit in Doha, and LEAP 25 in Saudi Arabia. SafaQat utilises smart technologies, including interactive dashboards, alert systems, bid-sorting algorithms, and real-time reports. It is currently working on developing AI-powered tools for analysing bids and forecasting prices, in line with digital transformation trends. On the community side, the platform launched an initiative to train job seekers as sales representatives through practical online training content, aiming to empower youth and create self-employment opportunities. It also supports small and medium enterprises with free registration, technical support, and awareness campaigns.
Times of Oman
15-07-2025
- Business
- Times of Oman
Commerce Ministry takes action against companies engaged in hidden trade
Muscat: Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, met on Tuesday at the Ministry's headquarters with a number of entrepreneurs working in the vehicle repair and maintenance sector. This meeting is part of a series of direct engagements conducted by the Ministry to enhance communication with small and medium enterprise (SME) owners, in line with its efforts to empower entrepreneurs and strengthen the business environment in the Sultanate of Oman. The initiative is carried out in collaboration with partners, including the SMEs Development Authority (Riyada), Oman Chamber of Commerce and Industry, and Khazaen Economic City. The meeting addressed key challenges facing workshop owners and businesses in this vital sector, including unfair competition under the guise of concealed trade. The Ministry confirmed that it has taken several legal measures against violating companies by implementing the first phase of Ministerial Decision No. 412/2023 on combating hidden trade, which covered three governorates (Muscat, Dhofar, and North Al Batinah). The second phase of the decision will be rolled out in the coming period. The discussion also touched on challenges related to obtaining land usufruct rights for conducting economic activities in vehicle repair and maintenance, as well as financing difficulties for projects in this sector, including personal and housing loans for entrepreneurs. The importance of digitizing all government services was also highlighted. For his part, Mubarak Mohammed Al Dohani, Director General of Planning at the Ministry of Commerce, Industry, and Investment Promotion, emphasized that this meeting aligns with the Ministry's policy of opening direct dialogue channels with economic activity owners. A series of meetings will be held in the coming period with entrepreneurs from various sectors to understand their challenges and proposals for developing and enhancing the national economy. He noted that the vehicle repair and maintenance sector represents a key link in the value chain of Oman's automotive market, offering vast opportunities for entrepreneurship and self-employment. He added that the Ministry is keen on activating the business environment and improving the competitiveness of service activities, including vehicle repair, in which citizens account for over 93% of participation. The Ministry, in coordination with its partners in industrial cities such as Khazaen, is working to facilitate the transition to organized and sustainable work environments that enable SMEs to grow and thrive. Entrepreneur Nasser Nasrallah Al Fahdi presented a working paper detailing his personal experience in establishing and managing a vehicle repair workshop, along with the challenges he faced since starting in 2016. He also shared his success story and continuous efforts to develop his workshop to keep pace with market advancements, despite financial and regulatory hurdles. Additionally, representatives of Khazaen Economic City delivered a visual presentation highlighting investment opportunities available in the Khazaen Market for vehicle spare parts, repair, and maintenance. This integrated project aims to regulate the sector, provide an ideal and safe environment for workshops and craftsmen, and link services with modern logistical facilities. The presentation also noted the market's comprehensive infrastructure, which includes dedicated auto repair units, spare parts showrooms, and support services, all within a regulatory framework that accounts for population and urban growth in South Al Batinah Governorate and neighboring areas. Data released by the Information and Statistics Department at the Ministry of Commerce, Industry, and Investment Promotion indicates that the number of licensed companies in vehicle repair and maintenance activities exceeded 13,500 by June 2025, distributed across various governorates of Oman. Muscat Governorate leads with 3,690 establishments, followed by North Al Batinah (2,226 establishments) and Dhofar (1,941 establishments). The data also reveals that the most common activities are vehicle electrical repair (3,651 establishments), vehicle mechanics (2,363 establishments), and oil change services (1,441 establishments). Meanwhile, full Omani ownership accounts for over 95% in most of these activities.
Observer
15-07-2025
- Business
- Observer
Programmes look at agricultural, maritime sectors
MUSCAT: The Youth Centre, in partnership with the Small and Medium Enterprises Development Authority (Riyada), has launched a package of entrepreneurial programmes aimed at developing youth skills across various sectors, including agriculture, maritime affairs, logistics, technology and handicrafts. These youth programmes target individuals aged 15 to 34 in all governorates of the Sultanate of Oman, with each governorate hosting programmes tailored to its specific nature. The Agricultural Entrepreneurship Programme aims to equip young people with entrepreneurial skills in the agricultural sector and introduce them to promising opportunities within this field. Meanwhile, the Maritime Entrepreneurship Programme seeks to develop entrepreneurial skills among youth in the maritime domain by leveraging Oman's natural resources and strategic location. In the technical field, the Technology Entrepreneurship Programme focuses on enabling participants to invest their technological skills and transform them into scalable tech projects. Furthermore, the Logistics Entrepreneurship Programme emphasises empowering youth to innovate sustainable entrepreneurial projects in the logistics sector, enhancing their practical skills in areas such as storage and e-commerce. The Craft Entrepreneurship Programme has been introduced to utilise craftsmanship and artistic skills in building innovative entrepreneurial projects that preserve cultural identity, demonstrating a commitment to offering specialised programmes. Additionally, a programme for youth has been dedicated in collaboration with the Ministry of Education to foster the concept of independent work among the 15-17 age group. As part of the diversification of programmes offered, the Youth Camp (Design and Packaging) programme was launched, aiming to provide participants with essential skills in modern product design and packaging, aligning with market demands. It is worth noting that the number of beneficiaries from the Youth Centre's programmes reached 56,953 young men and women by the end of last June. - ONA
Times of Oman
15-07-2025
- Automotive
- Times of Oman
Commerce Minister meets entrepreneurs in vehicle repair, maintenance sector
Muscat: Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, met on Tuesday at the Ministry's headquarters with a number of entrepreneurs working in the vehicle repair and maintenance sector. This meeting is part of a series of direct engagements conducted by the Ministry to enhance communication with small and medium enterprise (SME) owners, in line with its efforts to empower entrepreneurs and strengthen the business environment in the Sultanate of Oman. The initiative is carried out in collaboration with partners, including the SMEs Development Authority (Riyada), Oman Chamber of Commerce and Industry, and Khazaen Economic City. The meeting addressed key challenges facing workshop owners and businesses in this vital sector, including unfair competition under the guise of concealed trade. The Ministry confirmed that it has taken several legal measures against violating companies by implementing the first phase of Ministerial Decision No. 412/2023 on combating concealed trade, which covered three governorates (Muscat, Dhofar, and North Al Batinah). The second phase of the decision will be rolled out in the coming period. The discussion also touched on challenges related to obtaining land usufruct rights for conducting economic activities in vehicle repair and maintenance, as well as financing difficulties for projects in this sector, including personal and housing loans for entrepreneurs. The importance of digitizing all government services was also highlighted. For his part, Mubarak Mohammed Al Dohani, Director General of Planning at the Ministry of Commerce, Industry, and Investment Promotion, emphasized that this meeting aligns with the Ministry's policy of opening direct dialogue channels with economic activity owners. A series of meetings will be held in the coming period with entrepreneurs from various sectors to understand their challenges and proposals for developing and enhancing the national economy. He noted that the vehicle repair and maintenance sector represents a key link in the value chain of Oman's automotive market, offering vast opportunities for entrepreneurship and self-employment. He added that the Ministry is keen on activating the business environment and improving the competitiveness of service activities, including vehicle repair, in which citizens account for over 93% of participation. The Ministry, in coordination with its partners in industrial cities such as Khazaen, is working to facilitate the transition to organized and sustainable work environments that enable SMEs to grow and thrive. Entrepreneur Nasser Nasrallah Al Fahdi presented a working paper detailing his personal experience in establishing and managing a vehicle repair workshop, along with the challenges he faced since starting in 2016. He also shared his success story and continuous efforts to develop his workshop to keep pace with market advancements, despite financial and regulatory hurdles. Additionally, representatives of Khazaen Economic City delivered a visual presentation highlighting investment opportunities available in the Khazaen Market for vehicle spare parts, repair, and maintenance. This integrated project aims to regulate the sector, provide an ideal and safe environment for workshops and craftsmen, and link services with modern logistical facilities. The presentation also noted the market's comprehensive infrastructure, which includes dedicated auto repair units, spare parts showrooms, and support services, all within a regulatory framework that accounts for population and urban growth in South Al Batinah Governorate and neighboring areas. Data released by the Information and Statistics Department at the Ministry of Commerce, Industry, and Investment Promotion indicates that the number of licensed companies in vehicle repair and maintenance activities exceeded 13,500 by June 2025, distributed across various governorates of Oman. Muscat Governorate leads with 3,690 establishments, followed by North Al Batinah (2,226 establishments) and Dhofar (1,941 establishments). The data also reveals that the most common activities are vehicle electrical repair (3,651 establishments), vehicle mechanics (2,363 establishments), and oil change services (1,441 establishments). Meanwhile, full Omani ownership accounts for over 95% in most of these activities.
