MUSCAT, JAN 5 - The Ministry of Commerce and Industry said innovations play vital role in the success of small and medium enterprises and startups, as there is real competition in these projects which distinguishes one from others. These establishments see the commercial works in terms of society. They work for technical improvement and simplification of the method of production and reduction of the costs. The innovation helps in achieving quality of the products, better methods and speed of services given to customers resulting in trust of costumers and loyalty with these establishments.
Eng Khalid bin Hamoud al Hinai, Acting Head of Intellectual Property and Industrial Design Department of the Intellectual Property Department, said, “Small and medium enterprises play major role in economic and social development through their products and services which are required by the society. This is despite the simplicity and lack of complexity of its organisational structure which includes management and operation together and which does not require large capitals, as is the case with large enterprises. They help in the increase and diversification of exports and rise in the gross domestic product as well as their effective contribution to the creation of opportunities for researchers from various levels of qualifications, particularly those who have the ability to think creatively and innovatively for providing excellent products and services as well as the ability to solve problems affecting the economy in trade, industry, health, agriculture, environment and other areas which contribute to the development of society in a sustainable manner. This leads to the positive development of the business environment and the revitalisation of these establishments and their development and improvement as well as their adapting positively according to the current changes to ensure sustainability and profitability
Al Hinai said that in view of growing interest in the system of innovations carried out by the concerned authorities in the Sultanate and its efforts to support this system, the incentive environment for innovation in the Sultanate has improved. This led to the Sultanate’s advancement to eight positions to reach to 69th in 2018, from 77th position in 2017. He pointed out that the Ministry of Commerce and Industry, in late 2018, reduced the fees of industrial property services by 50 per cent for small enterprises, particularly in the area of patent of innovations and industrial designs.
This decision was meant for encouragement of this category of enterprises and entrepreneurial projects and to stimulate them to spend on research and development to produce more innovations and provide practical solutions to the problems which appear in the products and services markets and protection of these creations to ensure the achievement of financial returns for these creations and innovations.
He said that innovations might be a solution to real problems which has real value in the market. Something which already exists can also be improved and presented in a different way. The projects which does not depend on innovations basically cannot grow and compete in ever changing market which wants excellence and uniqueness. Therefore, many large companies disappeared only because they could not improve and do innovation in their services. Other companies which focussed on improvement and innovations in their models of services and products expanded in the markets and grew.
Oman Observer is now on the WhatsApp channel. Click here
