Freelancers to gain access to finance, tenders

MUSCAT, JUNE 9
Oman is moving to strengthen freelance work as part of its wider push to diversify the economy, expand private-sector participation and create more flexible employment opportunities for national talent.
The Oman Chamber of Commerce and Industry (OCCI) announced a package of financial and regulatory initiatives during a seminar titled The Reality of Freelance Work in the Sultanate of Oman, organised by its Labour Market Committee.
The initiatives include new financing facilities for freelancers and measures to enable them to participate in government project contracts, in line with the objectives of Oman Vision 2040.
Faisal bin Abdullah al Rawas, Chairman of the Oman Chamber of Commerce and Industry (OCCI)’s Board of Directors, said the seminar aimed to familiarise business owners and jobseekers with freelance opportunities and the platforms available for practising freelance work.
He said several initiatives had been announced, including allocating a percentage of government tenders through the Projects, Tenders and Local Content Authority to workers in the freelance sector.
Al Rawas said one of the key incentives was the launch of a new financing product by the Development Bank, offering special facilities for freelancers.
He said the initiatives aim to promote a culture of self-employment and turn freelance work into an economic enabler that supports growth, productivity and national development.
Saleh bin Juma al Balushi, Acting CEO of OCCI, said self-employment has become a promising economic driver that enhances labour market flexibility, empowers national talent and supports diversification efforts.
He said the rapid global growth of freelance work has made it a modern economic model that offers opportunities for creativity, innovation and professional independence.
Self-employment also contributes to creating quality job opportunities, improving labour market efficiency and supporting the knowledge-based economy, he added.
During the seminar, Omar bin Abdulaziz al Maamari, Supervisor of the Freelance Work System at the National Employment Programme, reviewed Oman’s freelance work system as a pathway for empowering national talent and expanding self-employment opportunities.
He said freelancers represent independent legal entities and form part of Oman’s economic and commercial system, allowing them to benefit from incentives and facilities and participate in government project contracts.
Mahmoud bin Hamdan al Mujrafi, Head of Business Solutions and Product Development at the Development Bank, presented the “Masirah” financing product, designed specifically for freelancers.
Al Mujrafi said the product provides financing of up to RO 15,000, with a zero per cent interest rate for full-time freelancers and 3 per cent for part-time freelancers.
The repayment period extends up to seven years, including a three-month grace period. Repayment is made through post-dated cheques or monthly transfers, while loan disbursement takes place within three months from the date of approval.
He said the bank does not require collateral from self-employed individuals under the product, except in specific cases linked to risk assessment. In such cases, life insurance is provided for the borrower, along with personal guarantees to ensure business continuity.