Muscat: The Authority for Small and Medium Enterprises Development (ASMED) reviewed its supporting policies, programmes and future plans during its annual media briefing held in Muscat, highlighting the sector’s growing contribution to the national economy and outlining key initiatives planned for the coming period.
The Authority said it has completed the implementation of the Small and Medium Enterprises sector strategy, which achieved positive results, with the sector’s contribution to the gross domestic product reaching about 21 per cent by the end of 2024.
According to the Authority, the number of small and medium enterprises registered in its records reached around 130,359 by the end of December 2025, reflecting sustained growth in entrepreneurial activity across the Sultanate of Oman.
The Authority’s annual plan for this year includes more than 700 initiatives and training programmes distributed across eight main pillars.
These include promoting a culture of entrepreneurship, scaling up enterprises and accelerating their regional and global expansion, maximising local content, facilitating access to finance, expanding business incubators, developing the governorates, and leveraging their comparative advantages.
In the field of handicrafts and home-based activities, the Authority stated that 5,813 applications for handicrafts support were received and approved by the end of 2025. It added that the total number of beneficiaries holding licences to operate home-based activities reached 7,026 artisans, with a total value exceeding RO 4 million.
Since its establishment, the Authority has launched 30 general and specialised business incubators, which have supported 137 enterprises and created 231 job opportunities.
The Authority also revealed that the number of innovation-based start-ups reached 205 by the end of 2025, employing 825 staff, with a total market value estimated at RO 395 million.
The media briefing underscored the Authority’s continued efforts to empower small and medium enterprises, enhance their competitiveness, and strengthen their role as a key driver of economic diversification and sustainable development.
Oman Observer is now on the WhatsApp channel. Click here
