69,000 Omanis have worked in SMEs that registered within the Authority until December 2021

Muscat, The Gulf Observer: More than 69,000 small and medium enterprises (SMEs) have registered with the SMEs Development Authority until December 2021 in the Sultanate of Oman.

An official from the SMEs Development Authority confirmed that more than 69,000 Omanis have worked in small and medium enterprises that registered within the Authority until December 2021.

“The press conference on financing small and medium enterprises has been started, which highlights the strategic directions for enterprise development, the entrepreneur readiness programme, the financing programmes, the role of the Oman Development Bank in managing the loan portfolio and the mechanism for receiving funding requests,” Oman News Agency (ONA) said in a statement.

Abdulaziz bin Saeed Al Raisi, Vice President of the Small and Medium Enterprises (SMEs)Development Authority, said that the, “The number of Omanis working in small and medium enterprises registered with the authority until last December reached 69,594 , while the contributions of small and medium enterprises in exports until the end of September 2020 amounted to OMR 2,155, 744.”

The Vice President of the Authority added that the total number of micro, small and medium enterprises registered within the Ministry of Commerce, Industry and Investment Promotion reached 175,000 until October 2021.

The Vice President stated that 619 projects benefited from the emergency financing programme, and they are among the most affected cases in 2021.

Abood bin Amer Al Omari, in charge of the Vice-President of the Small and Medium Enterprises Development Authority for Finance and Investment, Director General of Planning said: “The ceiling for financing individuals and small and medium-sized enterprises reached OMR 250,000, with the possibility of additional financing for existing projects that are committed to paying the installments.”