Latest news with #HalimaAlZariyah
Zawya
5 days ago
- Business
- Zawya
Oman: Enhancing opportunities for SMEs in energy sector
The Authority for Small and Medium Enterprises Development (ASMED) recently held its 14th dialogue session on enhancing opportunities for small and medium enterprises (SMEs) in the energy and minerals sector. The session aimed at focusing on improving the business environment and making it more attractive to enterprises in this sector. As part of ASMED's efforts to partner and integrate with relevant entities to improve the business environment for SMEs, the dialogue session focused on opportunities in the energy and minerals sector. The session was attended by Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, and Halima bint Rashid al Zariyah, Chairperson of the Authority for Small and Medium Enterprises Development (ASMED), along with officials from relevant authorities and owners of small and medium enterprises in the energy and minerals sector. Adnan al Harrasi, an entrepreneur in the chemicals sector, said, "I had some ideas to share that needed to be discussed. The dialogue session provided a platform for entrepreneurs to raise issues and obstacles hindering their projects and find appropriate solutions from relevant authorities in each vital sector." The session covered various topics including policies, legislation, licences and enablers that support SMEs in developing innovative solutions and partnerships in the energy and minerals sector. It also aimed to enhance the role of SMEs in the sector by presenting innovative ideas, improving operational efficiency, encouraging government and private partnerships, and raising awareness of the sector's importance in supporting the national economy. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
26-05-2025
- Business
- Zawya
Oman: SMEs, banks unite to make a stronger future
Muscat: In a continued effort to strengthen the business environment and promote synergy between the public and private sectors, the Small and Medium Enterprises Development Authority (SMEDA) recently organised a dialogue session under the theme 'Financing Small and Medium Enterprises.' The session explored ways to enhance banking services for SMEs, discussed regulatory frameworks and addressed the role of partnerships in fostering a more inclusive and dynamic entrepreneurial ecosystem. The session was held in the presence of Halima bint Rashid al Zariyah, Chairperson of the Small and Medium Enterprises Development Authority (SMEDA) and Rashid bin Zayed al Ghassani, Deputy CEO of the Supervision and Regulation Sector at the Central Bank of Oman (CBO), alongside representatives from government bodies, financial institutions and SME owners from across Oman. Key objectives of the session included reinforcing partnerships between SMEs and regulatory entities, improving the appeal of Oman's business climate and developing SME-centric policies. The Authority also emphasised the importance of innovation in driving economic sectors and encouraged entrepreneurs to bring forward transformative ideas. Several critical themes were addressed during the dialogue including policies and regulations, for SMEs to access to banking services, with proposals for simplifying licensing and compliance procedures, licensing and fees, access to finance, enablers and Incentives for SMEs. In her address, Halima reiterated that financial access is not merely a capital issue but a strategic enabler of growth. 'Financing must be part of an integrated framework that includes regulation, skills development and advisory services,' she said. During the session, Al Ghassani reaffirmed the Central Bank of Oman's support for SME financing, noting the importance of regulatory flexibility and digital innovation in banking. He also emphasised the central bank's strategic role in promoting financial inclusion through accessible banking products tailored to the needs of small businesses. The session concluded with several recommendations for stakeholders that include streamlining banking-related licenses and reducing associated fees, promoting alternative finance models, including venture capital and crowdfunding, expanding incubators and accelerators in partnership with academic and private sector institutions, developing a credit scoring system tailored for SMEs and organising financial literacy programmes for entrepreneurs. Participants agreed that the coming phase requires tangible partnerships between SMEs and financial institutions, alongside targeted incentives for priority economic sectors. Such efforts would position Oman's SMEs to compete locally and regionally, contributing meaningfully to the national economy. By organising sessions such as this, SMEDA continues to serve as a key enabler and facilitator for the growth of the SME sector, helping build a resilient and diversified economic future for Oman. According to updated statistics shared by SMEDA, the number of registered SMEs in Oman reached 276,111 by March 2025. Among these, 149,219 hold the official "Entrepreneurship Card." The highest concentration of SMEs is in the Al Dakhiliyah governorate (53,450), followed by Al Batinah North Governorate (21,872) and Al Sharqiyah North Governorate (18,119). Meanwhile, Muscat Governorate recorded over 10,000 enterprises. The breakdown by size category shows a dominance of micro-enterprises (129,706), followed by small (37,107) and medium-sized businesses (18,437), highlighting the sector's significant presence in the national economy. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
