His Majesty Sultan Haitham bin Tarik held a meeting at Al Alam Palace today with businesspersons and owners of small and medium enterprises (SMEs).

At the outset of the meeting, His Majesty the Sultan gave thanks and praise to Allah the Almighty for the bounties which He has bestowed on Oman. He expressed gratitude for the accomplishments and positive results about which, he said: “We feel satisfied and which inspire us to move towards the future with more confidence”. His Majesty prayed to the Almighty to endow Oman and its people with abundant riches and empower them to achieve further development and prosperity.

His Majesty the Sultan touched on the future approaches of the State and its policies aimed at maintaining the pace of the comprehensive development process as planned in Oman Vision 2040.

Through this meeting, His Majesty the Sultan underscored his great attention, his continuous follow-up of private sector affairs and his keenness to consolidate partnership and communication between the public and private sectors during the upcoming stage.

His Majesty underlined the importance of enhancing the role of the private sector and enabling it to play its envisaged roles by integrating with all components of the Omani economic system and boosting the country’s economic development.

His Majesty the Sultan commended the role of the private sector and business owners in meeting the future aspirations of the Omani economy, notably by supporting efforts made to establish a powerful private sector that leads a competitive economy that is capable of integrating with the global economy.

This, His Majesty noted, is realized by according attention to knowledge-based economy informed by applied research and utilizing the best technologies and innovations, namely technologies those related to the 4thIndustrial Revolution.

His Majesty stressed the need to prepare the business environment to be more competitive and attractive to investments and capable of generating more employment opportunities—an environment in which the government exercises a regulatory role aimed at achieving efficiency and successful management.

In this context, His Majesty hailed the role of the Ministry of Commerce, Industry and Investment Promotion.

As part of his Royal attention to small and medium enterprises (SMEs) and start-ups, His Majesty the Sultan affirmed the significance of empowering Omani SMEs and start-ups within the Omani economic system. He laid emphasis on the integration of these businesses with large companies through innovative solutions and by offering quality business opportunities in the local and foreign markets. His Majesty expressed his appreciation for the roles played by the Authority of Small and Medium Enterprises Development.

His Majesty the Sultan also lauded the role of Oman Chamber of Commerce and Industry (OCCI), which, he said, is considered the prime mover of the private sector. He touched on the new OCCI system, which was implemented after engaging a large segment of business owners and listening to their views.

He underlined the importance of enabling the OCCI to play its role as a representative of the private sector and achieving its objectives in a manner that enhances its growth and augments its contribution to the gross domestic product (GDP), notably in the sectors of economic diversification.

Within the context of His Majesty’s interest in everything that would contribute to strengthening the national economy, special importance was accorded to SME business owners’ benefiting from the infrastructure, facilities, stimulating economic packages, and many other programmes espoused by the government, including the promotion of local content of Omani industries and other incentives and programmes.

At the conclusion of the end of the meeting, His Majesty the Sultan underscored the significance of forging an effective partnership between the government and private sectors, so that the private sector can play its desired role in implementing projects and investments that contribute to economic diversification, the growth of GDP and the creation of employment opportunities for citizens.

His Majesty the Sultan wished all success in their endeavours to realize the good of this dear country.

The meeting was attended by HH Sayyid Bilarab bin Haitham bin Tarik Al Said, Chairman of the Supervisory Committee for the Start-ups Programme, Sultan bin Salim Al Habsi, Minister of Finance and Chairman of the Financial and Economic Committee at the Council of Ministers, Dr. Hamad bin Said Al Aufi, Head of the Private Office, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, Dr. Mahad bin Said Ba’owain, Minister of Labour, and Halima bint Rashid Al Zar’ee, Chairperson of the Authority of Small and Medium Enterprises Development.