Latest news with #SmallandMediumEnterprisesDevelopmentAuthority
Observer
5 days ago
- 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.
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
Business Recorder
05-05-2025
- Business
- Business Recorder
Implementation plan of SMEDA revamping approved
LAHORE: The 30th meeting of the Small and Medium Enterprises Development Authority (SMEDA) Board of Directors held Sunday in chair with Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) for Industries and Production has approved the implementation plan of SMEDA revamping. The meeting was also attended by Saif Anjum, Federal Secretary Industries and Production and Socrat Aman Rana, CEO of SMEDA besides the Board members. Haroon Akhtar Khan, while chairing the meeting referred to the PM vision on SME development and expressed satisfaction on fast track working of SMEDA in line with the PM vision. He reiterated that future of Pakistan's economy lies with growth and development of SMEs and the Prime Minister is determined to raise Pakistan's SMEs at par with the international standards, for which we are hiring services of the international SME experts. The board noted that the Prime Minister had constituted a committee to study existing structure of SMEDA and proposed changes for revamping the organization and making it a catalyst for growth of SME sector in the country. In line with the directions of the Prime Minister, implementation plan of revamping to align existing SMEDA employees with the new outsourcing activities initiatives were presented before the Board today. Copyright Business Recorder, 2025
Times of Oman
04-05-2025
- Business
- Times of Oman
Student company develops smart device to track shipping containers
Al Musanaa: The student company "Servo" at the University of Technology and Applied Sciences in Al Musannah has successfully developed a smart device designed to be placed inside shipping containers to monitor their condition during transportation and storage. Shajan Mohammed Al Alawi, CEO of the student company, explained that the device is equipped with sensors to measure critical environmental indicators such as temperature, humidity, pressure, and vibration to ensure the safety of the container's contents. The device also features a tracking system that pinpoints the container's location, whether transported by land or sea, enhancing shipment tracking accuracy. She added that the device connects to an electronic platform that displays real-time data, including a 3D model of the container and a timestamped log of alerts in case of abnormal readings. She noted that the innovation has been showcased at several exhibitions and events related to innovation, including the Injaz Oman Student Company Exhibition 2025, the Small and Medium Enterprises Development Authority's business incubator in South Al Batinah Governorate, the Higher Education Institutions Exhibition (GEDEX 2025), and the "Industry for an Entrepreneur" forum at the University of Technology and Applied Sciences in A'Rustaq. The device garnered significant interest from visitors at these exhibitions. She stated that the device targets logistics companies, ports, factories, and all entities relying on land or sea shipping that require precise monitoring of their goods inside containers. She explained that the product is marketed through direct engagement with companies via field visits, where introductory presentations are delivered. This approach, she emphasized, builds trust and fosters strong relationships with potential clients through personal interaction and direct responses to inquiries. It is worth to mention that the student company "Servo" secured first place in the Innovastartup 2025 competition as the best emerging student company and was ranked among the top 60 student companies in Oman in the Injaz Oman 2025 competition. It is also the only student company from the University of Technology and Applied Sciences in Al Musannaa to qualify for the Student Company Exhibition 2025.
