SMEs hold future for economy

MUSCAT: The Sultanate has more than 35,000 SMEs under the Public Authority for SMEs Development thanks to the Royal directives of His Majesty Sultan Qaboos and government support for SMEs, said Shaikh Khalid bin Omar al Marhoon, Minister of Civil Service. Presiding over the second session of International Young Entrepreneurs Forum which began at the National University of Science and Technology in Muscat on Tuesday, he said: “I expect the future of Omani economy to be based on SMEs.” The forum was held under the theme, ‘Together for a Flourishing National Economy’. Shaikh Al Marhoon said entrepreneurship has changed the conventional concept of the economy. The forum is aimed at generating job opportunities, contributing to the economic growth and increasing awareness about the importance of entrepreneurship for young people who make up 27 per cent of Oman’s population.