Latest news with #SmallandMediumEnterprisesDevelopmentAuthority
Observer
25-07-2025
- Business
- Observer
‘Osara' a coastal tourist destination for khareef
The 'Osara' tourism project, situated on Raysut Beach in Salalah, stands out as a prominent tourist and entertainment destination accompanying Khareef Dhofar Season 2025. This Omani youth-led initiative was launched in 2022. This year, 'Osara' has undergone new developmental works across several of its facilities, including a redesigned waterfront to enhance the visitor experience. This involved expanding sea-view areas, creating open seating arrangements, and adding restaurants and cafes that offer direct beach views. 'Osara' a coastal tourist destination for khareef Majid bin Samhan al Mashali, one of the project's founders, said: 'Since the project's inception, we have been keen to introduce innovative ideas that align with visitors' aspirations. We continuously strive to develop various 'Osara' facilities to enhance the quality of the tourism experience.' He noted the addition of a new area for electric games this year within the adventure zone, providing a safe and enjoyable environment for children and their families. In addition to the waterfront and games area, the site features a traditional market showcasing Omani handicrafts and traditional products for which Dhofar Governorate is renowned. Various retail outlets are also distributed throughout the venue, contributing to the support of productive families and local brands. 'Osara' a coastal tourist destination for khareef 'Osara' also includes a theatre that hosts cultural and entertainment events targeting various age groups, alongside tranquil beachside seating areas that combine recreation and relaxation. It is worth mentioning that the 'Osara' project boasts an eco-friendly character, having been constructed using recycled wood, making it a model for sustainable tourism. 'Osara' receives support from Dhofar Municipality, the Small and Medium Enterprises Development Authority 'Riyada' and Salalah Port, as part of efforts to back youth initiatives and empower local entrepreneurs to contribute to boosting tourism activity during the khareef season. — ONA
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
Business Recorder
02-07-2025
- Business
- Business Recorder
IBF hosts panel discussion: Aurangzeb underscores criticality of SMEs to Pakistan's economy
SEVILLE, (Spain): Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Wednesday represented Pakistan in a high-level panel discussion titled 'Scaling up SME Finance' hosted at the International Business Forum, held on the sidelines of the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain, said a press release. The discussion brought together global policymakers and financial leaders to exchange ideas on strengthening financing mechanisms for small and medium enterprises (SMEs), which are widely recognised as critical engines of inclusive economic growth. Addressing the session, Finance Minister Aurangzeb underscored the importance of SMEs to Pakistan's economy, noting that these enterprises account for approximately 40 percent of the country's GDP, 25 percent of exports, and nearly 78 percent of non-agricultural employment. Despite their significant contribution, he observed that SME access to formal finance remains disproportionately low, with a small percentage of private-sector lending currently directed towards them. The Finance Minister highlighted that the Government of Pakistan has adopted a whole-of-government approach to address these challenges and unlock the full potential of the SME sector. As part of its strategic vision, the government aims to raise SME financing to 17 percent of total private-sector credit by 2028. This target is designed to bring Pakistan more in line with comparable South Asian economies such as Bangladesh and India, and with global emerging market benchmarks. He said the Government of Pakistan is actively working through the central bank to encourage commercial banks to expand their SME lending portfolios. This expansion is expected to enhance the contribution of SMEs to GDP, exports, employment, youth and women's digital empowerment, and overall financial inclusion, laying the foundation for sustained and inclusive economic growth. To support this agenda, a multi-billion credit guarantee facility has been rolled out under the Prime Minister's Youth, Business and Agriculture Loan Scheme. The government has also committed to bearing up to 50 percent of potential credit losses on principal for small businesses. The Finance minister also highlighted the government's intention to revise and expand the National SME Policy 2021 to set a comprehensive five-year roadmap for sectoral development. Parallel efforts are underway to strengthen the institutional capacity of the Small and Medium Enterprises Development Authority (SMEDA) so it can extend market linkages, provide regulatory relief, enhance advisory services, and lead capacity-building initiatives. Copyright Business Recorder, 2025
Observer
02-07-2025
- Business
- Observer
Masar initiative : A modern approach to street vending
Muscat, July 2 In a move that combines urban development with community entrepreneurship, Muscat Governorate, in partnership with the Small and Medium Enterprises Development Authority, has completed several key sites under the "Masar" initiative. This initiative aims to reshape the experience of street vending in the capital by providing structured, well-equipped spaces that maintain public aesthetics and service quality. Three major sites have already opened: Masar Al Amerat (15 carts), Masar Muttrah (12 carts), and Masar Bausher (15 carts). Additionally, preparations are underway for the launch of Masar Bausher 2 and Masar Al Mawaleh in the near future. The goal of the initiative is to transform informal street vending into a regulated, dignified activity by offering integrated sites that benefit vendors and consumers alike. Beyond just commercial organisation, the project strives to enhance public spaces through uniform cart design and strategic site placement that align with Muscat's modern urban identity. Health and food safety are also top priorities for Masar. By concentrating vendors in designated areas, the initiative makes it easier for health authorities to monitor practices, ensure food safety and address environmental concerns such as smoke and emissions. Additionally, traffic flow around popular vending zones has improved, creating a cleaner and safer experience for everyone. Masar also reflects a broader vision to empower Omani youth by providing legitimate platforms for running micro-businesses while reducing unregulated competition from expatriate labour. Each site has been thoughtfully developed with essential facilities such as lighting, landscaping, restrooms, electricity and water supply; and wastewater management. These family-friendly spaces offer convenience, safety and a pleasant atmosphere. Khalid al Bulushi, a resident of Al Amerat, praised the experience, stating, "It's now a pleasure to come here with the family for dinner or coffee. The area is clean, well-lit and offers a wide variety of food options. I feel safe and relaxed. This is exactly what we needed". Laila al Suleimani, a regular visitor to Masar Bausher, shared her positive impression, saying, "I love the layout and the overall vibe. It feels organised and welcoming, especially for families. You can find great street food in one tidy, attractive place. It's a big upgrade from how things used to be". Nasser al Amri, a consumer from Muttrah, expressed his satisfaction, stating, "I always look for quality and hygiene in food; and this setup makes me feel confident. The carts are neat, the area is clean and everything seems professionally run. I visit regularly now". To ensure responsible management of the carts, authorities have implemented clear eligibility criteria. Applicants must be residents of the area, hold a valid street vendor license, be actively involved in the business themselves and not have other commercial or professional ventures. Priority is given to existing street vendors already operating in the area. Masar represents more than just a regulatory framework; it signifies a new era in urban commerce that promotes entrepreneurship and community well-being. With additional sites planned for the future, the initiative continues to demonstrate that with the right structure, street vending can thrive in a modern, inclusive and sustainable way.
Observer
28-06-2025
- Business
- Observer
Al Dhahirah opens technology and crafts exhibition to inspire entrepreneurs
IBRI: The Technology and Crafts Exhibition, organised by the Small and Medium Enterprises Development Department in Al Dhahirah Governorate, was organised under the auspices of Shaikh Khalid bin Salim al Saadi, Deputy Wali of Ibri. The three-day event brought together producers; and small and medium enterprise (SME) owners from various fields and governorates across Oman. The exhibition featured a rich programmme of activities, including dialogue sessions showcasing the experiences and success stories of craftsmen and entrepreneurs across different sectors. It served as an inspiring platform for SMEs to improve business quality and adopt modern technologies to develop products and services for consumers. The event also promoted handicraft products while fostering a culture of entrepreneurship and empowering innovators to launch their own projects. The exhibition served as an inspiring platform for SMEs to improve business quality Salim bin Ali al Farsi, Assistant Director of the Small and Medium Enterprises Development Authority in Al Dhahirah Governorate, described the exhibition as a pioneering initiative that integrates artistic creativity with modern technology. He noted that it combines authentic handcrafted traditions with contemporary advancements such as 3D printing, augmented reality and artificial intelligence. Al Farsi emphasised that the exhibition's goal is not only to display products but also to stimulate dialogue, encourage innovation and support participants and technology pioneers in exploring new horizons of creativity and enterprise. — ONA
