Muscat: The Authority for Small and Medium Enterprises Development (ASMED) hosted a seminar on Tuesday to examine the Sultanate of Oman's findings in the Global Entrepreneurship Monitor (GEM) 2024 report.
The event was named "Towards Empowering and Sustainable Growth of Small and Medium Enterprises in the Sultanate of Oman. " Representatives from government agencies and private sector organizations attended.
Qais Rashid Al Toobi, ASMED Deputy Chairman for Finance and Investment, opened the workshop by stating that it contains 15 working papers covering all aspects of relevance to the entrepreneurship and SME sectors, the legal framework, and future plans in this area.
"ASMED collaborates with all partners through projects, programs, and other events to develop partnerships to empower SMEs and the entrepreneurship sector," Al Toobi said, adding that the Authority provides finance, investment, capacity building, and marketing programs.
The workshop evaluated attempts to encourage SMEs and increase opportunities for collaboration and integration between the government and commercial sectors, with the goal of empowering SMEs, increasing the sector's contribution to the gross domestic product (GDP), and improving Oman's rating in the GEM report.
The seminar featured presentations that looked at entrepreneurial ratios and indicators, as well as the findings of the GEM research 2024.
The seminar also featured unique training courses to empower SME owners and teach them how to profit from non-traditional financing platforms.
The workshop addressed the entrepreneurship index in vocational education, colleges, and universities, as well as efforts to create business centers in all governorates to empower small and medium-sized enterprises (SMEs) and startups, as well as support technology- and innovation-based startups through the Promising Omani Startup Programme.
It is worth noting that the Sultanate of Oman has made remarkable progress in the 2024-2025 GEM report, placing eighth among 56 nations surveyed.
This is a three-spot gain from Oman's 2023 position of 11th. This demonstrates sustained efforts to improve the entrepreneurial climate and promote small and medium businesses (SMEs).
