Muscat: The Ministry of Finance has released Financial Circular No. (1/2025), directing all ministries, agencies, public authorities, institutions, and government-owned companies to prioritize awarding government contracts for supplies, project execution, and service provision, with a value not exceeding RO 25,000, to small and medium enterprises whose owners possess a Riyada card.
In this circular, the Ministry emphasized the importance of collaborating with the Follow-up Committee of the National Local Content System to address the challenges related to tender awards. Additionally, it highlighted the necessity for internal audit units within ministries, government agencies, public authorities, and institutions to ensure compliance with this directive and to adhere to the relevant provisions and regulations outlined in applicable laws and systems.
