Latest news with #SMEDA
Zawya
30-05-2025
- Business
- Zawya
Oman: Dialogue session calls for supporting SMEs financially
MUSCAT: The Small and Medium Enterprises Development Authority (SMEDA) held its thirteenth dialogue session on enhancing opportunities for small and medium enterprises (SMEs) in the financial services sector. Abdullah bin Salem al Salmi, Chairman of the Financial Services Authority, presided over the event. As part of the authority's efforts to partner and integrate with relevant entities and improve the business environment and its attractiveness to SMEs, a dialogue session was held on the financial services sector and related activities. Al Salmi said: "It is very important to have dialogue and consultation between institutions and beneficiaries of these sessions. We heard many challenges, questions and inquiries from entrepreneurs, many of which are solvable and we encourage entrepreneurs to participate in such sessions. Among the issues we addressed were that SMEs need funding, support and assistance in matters related to managing the enterprises until they reach a level that enables them to survive during the first three or four years. They require attention from all of us, to help and embrace them so that they can continue in their business." The session aimed to boost the role of SMEs in developing financial services by presenting innovative ideas and improving operational efficiency, encouraging government and private partnerships and cooperation with SMEs, and raising awareness of the importance of the sector as a vital component of supporting the national economy. The session included several topics, including policies, legislation, licences and enablers that support SMEs in developing innovative solutions and partnerships in the financial services sector. Financial support is one of the most important factors for the success of SMEs and startups. Recent efforts have contributed to providing various support factors for the growth of entrepreneurial activities. According to the authority's latest statistics, there are 150,601 SMEs registered in the authority's database, including 131,315 micro-enterprises, 18,222 small enterprises, and 1,064 medium enterprises. Of these, 27,724 have obtained an Entrepreneurship Card. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
29-05-2025
- Business
- Observer
Dialogue session calls for supporting SMEs financially
MUSCAT: The Small and Medium Enterprises Development Authority (SMEDA) held its thirteenth dialogue session on enhancing opportunities for small and medium enterprises (SMEs) in the financial services sector. Abdullah bin Salem al Salmi, Chairman of the Financial Services Authority, presided over the event. As part of the authority's efforts to partner and integrate with relevant entities and improve the business environment and its attractiveness to SMEs, a dialogue session was held on the financial services sector and related activities. Al Salmi said: "It is very important to have dialogue and consultation between institutions and beneficiaries of these sessions. We heard many challenges, questions and inquiries from entrepreneurs, many of which are solvable and we encourage entrepreneurs to participate in such sessions. Among the issues we addressed were that SMEs need funding, support and assistance in matters related to managing the enterprises until they reach a level that enables them to survive during the first three or four years. They require attention from all of us, to help and embrace them so that they can continue in their business." The session aimed to boost the role of SMEs in developing financial services by presenting innovative ideas and improving operational efficiency, encouraging government and private partnerships and cooperation with SMEs, and raising awareness of the importance of the sector as a vital component of supporting the national economy. The session included several topics, including policies, legislation, licences and enablers that support SMEs in developing innovative solutions and partnerships in the financial services sector. Financial support is one of the most important factors for the success of SMEs and startups. Recent efforts have contributed to providing various support factors for the growth of entrepreneurial activities. According to the authority's latest statistics, there are 150,601 SMEs registered in the authority's database, including 131,315 micro-enterprises, 18,222 small enterprises, and 1,064 medium enterprises. Of these, 27,724 have obtained an Entrepreneurship Card.
Zawya
26-05-2025
- Business
- Zawya
Oman: SMEs, banks unite to make a stronger future
Muscat: In a continued effort to strengthen the business environment and promote synergy between the public and private sectors, the Small and Medium Enterprises Development Authority (SMEDA) recently organised a dialogue session under the theme 'Financing Small and Medium Enterprises.' The session explored ways to enhance banking services for SMEs, discussed regulatory frameworks and addressed the role of partnerships in fostering a more inclusive and dynamic entrepreneurial ecosystem. The session was held in the presence of Halima bint Rashid al Zariyah, Chairperson of the Small and Medium Enterprises Development Authority (SMEDA) and Rashid bin Zayed al Ghassani, Deputy CEO of the Supervision and Regulation Sector at the Central Bank of Oman (CBO), alongside representatives from government bodies, financial institutions and SME owners from across Oman. Key objectives of the session included reinforcing partnerships between SMEs and regulatory entities, improving the appeal of Oman's business climate and developing SME-centric policies. The Authority also emphasised the importance of innovation in driving economic sectors and encouraged entrepreneurs to bring forward transformative ideas. Several critical themes were addressed during the dialogue including policies and regulations, for SMEs to access to banking services, with proposals for simplifying licensing and compliance procedures, licensing and fees, access to finance, enablers and Incentives for SMEs. In her address, Halima reiterated that financial access is not merely a capital issue but a strategic enabler of growth. 'Financing must be part of an integrated framework that includes regulation, skills development and advisory services,' she said. During the session, Al Ghassani reaffirmed the Central Bank of Oman's support for SME financing, noting the importance of regulatory flexibility and digital innovation in banking. He also emphasised the central bank's strategic role in promoting financial inclusion through accessible banking products tailored to the needs of small businesses. The session concluded with several recommendations for stakeholders that include streamlining banking-related licenses and reducing associated fees, promoting alternative finance models, including venture capital and crowdfunding, expanding incubators and accelerators in partnership with academic and private sector institutions, developing a credit scoring system tailored for SMEs and organising financial literacy programmes for entrepreneurs. Participants agreed that the coming phase requires tangible partnerships between SMEs and financial institutions, alongside targeted incentives for priority economic sectors. Such efforts would position Oman's SMEs to compete locally and regionally, contributing meaningfully to the national economy. By organising sessions such as this, SMEDA continues to serve as a key enabler and facilitator for the growth of the SME sector, helping build a resilient and diversified economic future for Oman. According to updated statistics shared by SMEDA, the number of registered SMEs in Oman reached 276,111 by March 2025. Among these, 149,219 hold the official "Entrepreneurship Card." The highest concentration of SMEs is in the Al Dakhiliyah governorate (53,450), followed by Al Batinah North Governorate (21,872) and Al Sharqiyah North Governorate (18,119). Meanwhile, Muscat Governorate recorded over 10,000 enterprises. The breakdown by size category shows a dominance of micro-enterprises (129,706), followed by small (37,107) and medium-sized businesses (18,437), highlighting the sector's significant presence in the national economy. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Business Recorder
22-05-2025
- Business
- Business Recorder
NA panel reviews SMEDA, PIDC performance
ISLAMABAD: A parliamentary panel on Wednesday conducted a comprehensive examination and review of the performance, operational functions, and organisational structures of the Small and Medium Enterprises Development Authority (SMEDA) and the Pakistan Industrial Development Corporation (PIDC). The 2nd meeting of the Sub-Committee of National Assembly Standing Committee on Industries and Production met here on Wednesday with Muhammad Mobeen Arif in chair. The committee was appraised that SMEDA is an autonomous institution of the under Ministry of Industries and Production. SMEDA was established in October 1998 for encouraging and facilitating the development and growth of small and medium enterprises in the country. SMEDA is not only an SME policy-advisory body for the government of Pakistan but also facilitates other stakeholders in addressing their SME development agendas. Further the body formulate a policy to encourage the growth of SMEs in the country and advise the government on fiscal and monetary issues related to SMEs, facilitation of Business Development Services to SMEs and facilitate the development and strengthening of SME representative bodies associations/ chambers. Currently, SMEDA has a portfolio of twenty-eight projects with a total outlay of Rs4.2 billion. The authority has provided more than 0.15 million SME facilitation, over 4750 trainings, more than 400 pre-feasibility studies and over 600 consultants profiles. PIDC primarily operates as an infrastructure developer of industrial parks /estates to facilitate industrial growth across Pakistan. Five Industrial Parks are being developed/ managed by PIDC. Copyright Business Recorder, 2025
Observer
21-05-2025
- Business
- Observer
Dialogue highlights banking support for Omani SMEs
MUSCAT: The Small and Medium Enterprises Development Authority (SMEDA), in collaboration with the Central Bank of Oman (CBO), held a dialogue session in Muscat focused on enhancing banking services for small and medium enterprises (SMEs). Discussions covered key areas such as supportive banking policies and legislation, licensing requirements for financial service providers, and enablers for SME growth. These included training programmes, partnerships, incentives, business incubators, accelerators, and financing options. The session emphasised the vital role of partnerships between banks and SMEs in strengthening service delivery and addressing challenges that hinder SME performance and competitiveness. As of March 2025, Oman has registered approximately 149,219 SMEs, with 27,611 holding Entrepreneurship Cards across the country's governorates. The event is part of a broader series of dialogue sessions initiated by SMEDA to promote public-private collaboration, empower entrepreneurs, and foster a supportive environment for sustainable SME growth. Notable participants included Halima bint Rashid Al Zar'iyah, Chairperson of SMEDA; Rashid bin Zayed Al Ghassani, Deputy Executive President for Supervision and Regulation at the CBO; along with various government officials, experts, and SME representatives. — ONA
