Economy
Economy Ministry Supports SMEs with Sectoral Initiative

Muscat: The Ministry of Economy introduced a sectoral initiative to support small and medium enterprises (SMEs), in partnership with the Authority for Small and Medium Enterprises Development (ASMED).
The initiative aims to accelerate the recovery of SMEs from the repercussions of the Covid-19 pandemic and maximizing their contribution to economic activities.
Dr. Nasser Rashid al-Ma’awali, Undersecretary of the Ministry of Economy, said that this initiative comes in line with economic policies and practices aiming to accelerate economic recovery and stimulate economic growth for SMEs as a basis for national economies.
He added that this initiative is consistent with the fifth strategic objective of the 10th five-year development plan 2021-2025 (stimulating economic activity and supporting SMEs).
He pointed out that the initiative focuses on SMEs operating in economic diversification sectors as per the plan, in order to achieve higher growth rates for non-oil activities in light of innovative measures and plans that support economic diversification.
Halima Rashid al-Zra’ei, Chairperson of the ASMED, commended this initiative, stressing that it comes as an extension of the efforts and economic stimulus plans that the government has embarked on to support and enhance the sustainability of SMEs and entrepreneurs affected by Covid-19.
She also pointed out that there is an agreement with the Ministry of Economy to adopt and support 8 basic initiatives focusing on the vitality of scaling up SMEs to contribute to the economic growth and revive the market with services and products.
-
Automotive2 months ago
South Korea Plans to Support Auto Sector with US$2B Following US Tariffs
-
News2 months ago
Aligning HR Strategies with Oman Vision 2040: A Roadmap for Organisational Growth – OER Business Summit 2025
-
News2 months ago
Oman Oil Prices Witness Drop Amid Shifting Global Trade Dynamics
-
OER Magazines1 month ago
OER, April 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, April 25
-
Renewables2 weeks ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Banking & Finance2 months ago
Sohar International Bank SAOG Announces Intention to Merge with Ahli Bank SAOG
-
Banking & Finance2 months ago
Bank Nizwa Signs MoU with Ministry of Endowments and Religious Affairs to Enhance Endowment Management & Islamic Finance Frameworks