Riyada, the Authority for the Improvement of Small and Medium Enterprises, has launched an govt plan for the SME sector overlaying the interval 2026–2030, setting out a roadmap to strengthen small companies as a key engine of financial progress and diversification.
The plan aligns with nationwide priorities underneath Oman Imaginative and prescient 2040 and the eleventh 5-Yr Plan, and is designed to create a motivating and sustainable enterprise setting that improves SME competitiveness, will increase their contribution to GDP, and expands entry to native, regional and international markets.
Riyada stated the technique locations a powerful emphasis on financing and funding, market entry and worth chains, and in-country worth, alongside assist for innovation, entrepreneurship and the transition towards a knowledge-based economic system.
The framework was developed utilizing a participatory strategy involving private and non-private sector stakeholders, in addition to benchmarking towards worldwide greatest practices.
The manager plan contains focused programmes addressing totally different levels of SME progress, similar to initiatives to arrange companies for growth and exports, built-in financing options, and devoted assist for craft and heritage industries.
In keeping with Riyada, implementation of the plan is predicted to reinforce the long-term sustainability of SMEs, generate high quality employment alternatives, and allow entrepreneurs to construct scalable companies.
The authority added that strengthening the SME ecosystem will assist increase the competitiveness of the nationwide economic system and assist Oman’s broader growth ambitions over the approaching years.
