Muscat: The Sultanate of Oman has made significant progress in the Global Entrepreneurship Index, ranking 11th out of 49 countries in the latest Global Entrepreneurship Monitor (GEM) Report 2023/2024. This marks a remarkable improvement of 27 ranks compared to its position in the previous year, 2022/2023.
The Authority of Small and Medium Enterprises Development (ASMED) has announced that Oman has shown improvement across all secondary indicators, with particular focus on funding startups, developing government policies that support innovation and technology, and enhancing the material infrastructure.
The report also highlights the government's dedicated efforts to support entrepreneurship, especially through investments in research, development, and modern technologies. These initiatives aim to foster innovation and attract foreign direct investment (FDI).
In 2023, the Sultanate of Oman had the privilege of hosting a prestigious delegation from the Global Entrepreneurship Monitor. The purpose of their visit was to assess the government's support for SMEs and startups, as well as to observe the various initiatives undertaken by ASMED.
The Global Entrepreneurship Monitor (GEM) is widely recognized as the leading source of information on entrepreneurship. Established in 1995 as a research project, GEM provides valuable insights into the global entrepreneurial landscape.
