Sunday 28 / December / 2025
Muscat: Riyada, the Authority for the Development of Small and Medium Enterprises (SMEs), on Sunday announced the launch of the executive plan of the SME sector for the period 2026-2030.
The plan fits within the framework of national efforts aimed at consolidating the role of the SME sector, deemed one of the main drivers of domestic growth and economic diversification, in line with the objectives of Oman Vision 2040 and the 11th Five Year Plan.
The plan aims to establish a motivating and sustainable business environment that contributes to raising the competitiveness of SMEs, enhancing their contribution to the gross domestic product (GDP) and opening up vistas for SMEs to access local, regional and global markets. It also supports innovation and entrepreneurship and enhances the transition towards knowledge economy.
The plan stems from a number of key strategic pillars, most notably market access and value chains, financing and investment and in-country value (ICV). These pillars, developed using a participatory methodology with contributions from government and private establishments, were also based on benchmarking and international best practices.
The plan includes a set of quality programmes and initiatives targeting different stages of growth of SMEs, including programmes to raise SMEs aptitude for expansion and export, integrated financing programmes and the development of initiatives for supporting craft industries.
Riyada affirmed that the implementation of the executive plan will contribute to enhancing the sustainability of SMEs, generating quality employment opportunities and enabling entrepreneurs to build projects that are capable of growth and expansion—thereby boosting the competitiveness of the national economy and keeping pace with the aspirations of the next phase.
