The Public Authority for Special Economic Zones and Free Zones (Opaz) recently organized the second edition of the ‘National Equal Opportunities’ initiative, in collaboration with the Ministry of Agricultural, Fisheries and Water Resources. The event, held in Muscat, showcased 11 innovative experiences from Omani entrepreneurs and small and medium enterprises (SMEs). The initiative aimed to highlight the expansion of Oman’s business environment, especially in special economic zones, free zones, and industrial cities. A public exhibition was also part of the event, allowing participating SMEs to display their goods and services and connect with officials and personnel for networking and knowledge-sharing opportunities.
Saleh bin Hamoud Al-Hassani, an advisor to the chairman of Opaz, outlined the primary objectives of the Authority during a visual presentation at the event. These objectives include planning, development, organisation, facilitation, post-service care, marketing, attracting investment, and achieving institutional excellence. The initiative aimed to create a fair and equal business environment that encourages innovation, entrepreneurship, and investment in special economic zones and free zones. It also sought to support and promote SMEs by creating a conducive business environment for their growth and development.
Hussam bin Salam Al-Kharusi, a senior official at the Oman Future Fund, revealed that 10% of the fund’s capital is allocated to investments in small and medium enterprises and venture capital. The fund targets various investment sectors, excluding oil and gas and real estate sectors. This funding support is essential for the growth and sustainability of SMEs in Oman. Additionally, the second phase of the ‘National Equal Opportunities’ initiative saw successful collaboration between various entities including the Ministry of Agriculture, Fisheries and Water Resources, SMEDA, Madayn, Salalah Free Zone, Sohar Free Zone, Khazaen Economic City, Al Mazunah Free Zone, Oman Development Bank, Future Fund Oman, and the General Directorate of Agricultural and Animal Research.
Overall, the initiative showcased the achievements and potential of Omani entrepreneurs and SMEs, highlighting the importance of supporting and promoting entrepreneurship and innovation in Oman’s business environment. The collaboration between different government entities and organizations demonstrates the commitment to creating a conducive environment for the growth of SMEs in the country. With ongoing initiatives and support from institutions like Opaz and the Oman Future Fund, the future looks promising for SMEs in Oman to thrive and contribute to the country’s economic growth and development.
