Six cooperation agreements were signed to develop, sustain and grow the business of small and medium enterprises with companies affiliated with the Oman Investment Authority.
The Small and Medium Enterprises Development Authority is working on three broad programmes -- Business opportunities allocation; Business opportunity platform and Supplier Registration.
The programmes are in addition to the Development of 'Specialised consulting institutions' in the field of human resources, with a total of six cooperation agreements.
These programmes are to develop, sustain and grow the business of small and medium enterprises registered with the Authority, within the 'In-Country Value' programmes whose importance lies in creating a competitive environment that supports innovation and technology, provides practical and scientific opportunities for national cadres, and provides an opportunity for small and medium enterprises to exploit investments and develop supply chains.
“Cooperation with the Omani Investment Authority is one of the important aspects of improving the business environment and enhancing the local added value by providing space for small and medium enterprises in the range of business and investment opportunities that touch the objectives of the authority to achieve its goals, Mohammad bin Ali al Badri, Assistant Director of the In-Country Value Department at the Small and Medium Enterprises Development Authority, said.
He added that work is ongoing to improve cooperation across broader scales, represented in accrediting small and medium enterprises with the agency’s companies, rehabilitating and enabling them to become the reference basis for local business, which in turn will contribute to enhancing the value of the gross domestic product and providing job opportunities for Omani youth in various economic sectors.
The total number of agreements signed in the Business Opportunity Privatisation Programme amounted to four agreements with Mazoon Dairy, Oman Minerals Development Company, Oman Palm Development Company, and Oman Fish Development Company.
Cooperation has also been made with Al Bashayer Meat Company to announce business opportunities and invite small and medium enterprises to register as suppliers in the fields of opportunities.
The authority implemented training programmes for supplier registration in cooperation with the Oman Broadband Company, the Oman Oil Marketing Company, the Asyad Group, and the Oman Tourism Development Company -- Omran. These programmes aimed at providing business opportunities for small and medium enterprises, and registering suppliers for small and medium enterprises. Introductory workshops for business opportunity platforms and supplier registration have been implemented.
In the programme for the development of specialised consulting institutions in the field of human resources, the authority also signed a cooperation agreement with Takatuf Oman Company, to transfer knowledge and enhance professional standards among small and medium enterprises. It is to build an advanced model of institutions specialised in human and administrative resources consulting and training services. The company has implemented a program to develop nine small and medium enterprises.
In addition, the authority signed a memorandum of understanding on technical cooperation with Oman Dry Dock Company to establish an incubator or business centre for small and medium enterprises at Oman Dry Dock Company in Duqm.
Accordingly, three small and medium enterprises have been incubated. The Authority has also signed a technical cooperation agreement with the Oman Post Company (Asyad Express) to manage and operate incubators and business centres, and five small and medium enterprises have been signed in the company's ‘Tamouh’ incubator, which aims to develop the e-commerce sector and provide logistical support for it.
The agreements aimed at localising specialised local industries through small and medium enterprises, guaranteeing purchase contracts in favour of small and medium enterprises by the company, promoting local content, creating direct and indirect job opportunities for the national workforce, and increasing the contribution of small and medium enterprises to the gross domestic product.
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