MUSCAT: The Small and Medium Enterprises Development Authority organised a workshop titled “Business Environment – Global Entrepreneurship Monitor (GEM)” on Monday. The workshop brought together representatives from government and private entities, partners, stakeholders, experts, and entrepreneurs as part of efforts aimed at improving entrepreneurship environment indicators and enhancing the competitiveness and sustainability of small and medium enterprises in the Sultanate of Oman.
The first day of the two-day workshop focused on several themes linked to the entrepreneurship lifecycle, including governance, policies and legislation, financing, markets and opportunities, and infrastructure. Additionally, the workshop reviewed key challenges related to the business environment in Oman.
Discussions highlighted the importance of developing the business environment and formulating practical initiatives that support entrepreneurial growth. The workshop also addressed proposals related to simplifying procedures, improving access to financing, and strengthening support systems for startups and SMEs.
Moreover, the workshop addressed the importance of enhancing the legislative and regulatory environment for entrepreneurs. This includes strengthening digital infrastructure, accelerating licensing procedures, and improving access to markets and financing in a way that supports the efficiency and competitiveness of SMEs.
In an interview with the Observer, Ammar al Hashmi, Research and Development Specialist in Local Content at the Tender Board and Local Content Authority, stated that the authority contributes to improving the entrepreneurship environment by allocating selected tenders and projects exclusively for SMEs holding the 'Riyada' card. He also mentioned that the authority allocates 10 per cent of major development tenders to SMEs to help enhance their experience and enable them to undertake larger projects. Additionally, government internal purchases valued below RO25,000 are also allocated to institutions holding the “Riyada” card.
Hamza al Tai, Head of Small Enterprises at Bank Muscat, mentioned that the bank continues to support SMEs through financing and advisory programmes. The bank also offers specialised initiatives aimed at empowering entrepreneurs and improving their access to markets.
Oman Observer is now on the WhatsApp channel. Click here
