Enhancing the growth and sustainability of small and medium enterprises by providing sustainable contracts and projects to promote economic growth and their contribution to supporting local value addition, in alignment with Oman Vision 2040.
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The Oman Chamber of Commerce and Industry has worked to develop SMEs by creating an encouraging and attractive environment, reaffirming Oman Vision 2040. In collaboration with partners in the public and private sectors, these institutions contribute to sustainable economic growth.
During its current term (2022-2026), the SME Committee has aimed to create sustainable initiatives for SME growth by establishing projects, partnerships, and opportunities that enhance institutional income and adaptability to local market changes, thus adding local value.
This program aims to create a database for SMEs by collecting and updating data from relevant authorities. It also offers attractive benefits and incentives in collaboration with distinguished partners to support SME growth and sustainability.
Sustainability is the ability of SMEs to achieve long-term success and growth by adopting strategies that contribute to sustainable economic development. This includes maintaining profitability, adapting to market changes, delivering added value to the local community, and expanding their customer base and relationships.
To access the benefits and incentives offered by the My Business Sustainability program, SMEs must obtain the sustainability certificate from the website and present it to partners to benefit from their provided services.
Promoting the growth and sustainability of small and medium enterprises by providing sustainable contracts and opportunities to enhance the economic growth of businesses and support their contribution to local value-added initiatives, in alignment with Oman Vision 2040.
Striving to develop projects, businesses, and partnerships that continuously enhance the institution's income through program partners (such as My Share for Social Investment). Additionally, benefiting from discounts and incentives provided by government and private entities in the program (e.g., Ministry of Labor, the financial sector, healthcare sector, insurance sector, and telecommunications sector).
Enabling the institution to adapt to market changes and fluctuations through consultations and services in legal, accounting, technical, media, and marketing fields offered by program partners.
Providing products and services that meet local community needs and contribute to its development, strengthening the institution's position in the local market. This is achieved through partnerships with existing program institutions or establishing new partnerships within the local market.
Ensuring the expansion of the customer base and strengthening local relationships, which helps build a strong network that contributes to the institution's service continuity. This is achieved through media partners, marketing institutions in the program, and the program's mechanism for use by other entities locally and internationally.
The Oman Chamber of Commerce and Industry has signed three cooperation and partnership memorandums with the Youth Projects Development Fund (Sharakah), Ooredoo Oman, and Al Wadiyah Business Company. The agreements aim to support investment and economic opportunities that empower the SME sector to grow and achieve sustainability. The event was attended by H.E. Sheikh Faisal bin Abdullah Al Rawas, Chairman of the Chamber, along with several board members.
Zakaria bin Abdullah Al Saadi, CEO of the Chamber, stated: "The signing of these three memorandums of understanding and cooperation is a key step in supporting the continuity and growth of SMEs in the long term. It also aligns with the Chamber's goals of social and knowledge-based investment, presenting a strategic move to enhance economic and investment opportunities for SMEs in Oman. These partnerships will contribute to achieving the Chamber’s vision of empowering SMEs to grow sustainably, diversifying the economic base, and providing innovative solutions and support to enhance their competitiveness. This aligns with Oman Vision 2040, which focuses on private sector growth and supporting the national economy."
Sheikh Ahmed bin Amer Al Musalhi, Chairman of the SME Committee at the Oman Chamber of Commerce and Industry, stated: "These memorandums are part of the Chamber's efforts, represented by the SME Committee, to support and empower SMEs for growth and sustainability. This includes creating mechanisms to deliver their products and services to domestic and international markets, in line with the Chamber's strategic goals and Oman Vision 2040."
Al Musalhi added: "These agreements provide SMEs with greater opportunities to connect and collaborate with various economic entities, share expertise and knowledge, increase productivity, foster innovation, and enhance the competitiveness of local businesses in domestic, regional, and international markets."
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