Muscat: The Council of Ministry on Tuesday gave the green light to the 'National Product Loyalty Programme', which seeks to encourage consumers to go for Omani products and enhance the growth of local companies.
According to the Small and Medium Enterprises Development Authority (Riyada), the loyalty program motivates consumers to make Omani products their first choice. It contributes to ensuring the continuation and growth of Omani companies.
It will help to stimulate the sale of Omani products and ensure the sustainability of small and medium enterprises.
The program enables the consumer to learn about national products, their prices, and where they are sold, apart from incentives and prizes linked to participation in the program.
The General Secretariat of the Tender Board will be responsible for setting up and managing the program that will offer adding loyalty points in exchange for purchasing Omani products.
Manufacturers will display products and offer incentives through shops connecting systems with the program.
The Ministry of Ministry of Commerce, Industry, and Investment Promotion (MoCIIP) has been conducting campaigns in different governorates of the Sultanate of Oman to enhance awareness of Omani products and promote local investment.
“Opting for Omani products is a real step towards promoting innovation and stimulating economic growth in the Sultanate of Oman. Our commitment to buying Omani products contributes to building the economy and increasing the spread of Omani products,” according to MICIIP sources.
Purchasing local products contributes to supporting the national economy, generating economic gains by circulating money internally, and promoting foreign trade.
The Council of Ministers had directed the authorities concerned to prepare a national policy for local content to reduce imports and increase exports. The Council endorsed the “National Policy for Local Content (2024-2030)”, which aims to develop a national system for regulating and monitoring local content in all sectors.
In this context, His Majesty the Sultan stressed the importance of focusing on all target goals, notably generating more employment opportunities for citizens, localizing industries, supporting entrepreneurs, encouraging small and medium enterprises (SMEs) and start-ups, and cutting down the volume of foreign purchases to secure surplus in the country’s trade balance.
Oman Observer is now on the WhatsApp channel. Click here
