MUSCAT: The SME Development Authority (Riyada) has unveiled procedures and guidelines under which Omani small and medium sized entrepreneurs can register for land on a usufruct basis in any of 10 new industrial schemes established in five different governorates around the Sultanate of Oman.
The new industrial schemes in question are as follows: (1) Al Dakhiliyah Governorate –Khameleh scheme in the Wilayat of Bahla and Al Dusr scheme in the Wilayat of Samayil; (2) Al Dhahirah Governorate – Yanqul scheme in Wilayat of Yanqul and Al Busaili scheme in Wilayat of Dhank; (3) North Al Batinah Governorate - Hamiliya scheme in Wilayat of Shinas, Liwa scheme in the Wilayat of Liwa, Saham scheme in Wilayat of Saham, and Al Sarhat scheme in Wilayat of Al Khabourah; (4) Al Wusta Governorate – Al Hajj scheme in the Wilayat of Mahout; and (5) North Al Sharqiyah Governorate - Samad Al Sha'an scheme in the Wilayat of Al Mudhaibi.
On Wednesday, the Authority launched the registration process for entrepreneurs to secure plots in the schemes of their choice – for a small annual fee. Upon registration, the SMEs are given a fixed amount of time, extendable by a grace period, to complete their project as per a clear work plant.
They will also be prioritised in their requests for facilities from the Authority related to finance, marketing, training and upskilling.
To be eligible for registration, the SME’s project proposal must be economically feasible. The applicant should be the holder of a Riyada card. Furthermore, the applicant should commit to implementing the project in the allocated land in not less than one year. Additionally, the entrepreneur should commit to bearing all the fees and costs towards preparing the site and installing all the requisite utilities.
Oman Observer is now on the WhatsApp channel. Click here
