Agreement signed to support SMEs

Muscat: To empower small and medium enterprises (SMEs) and support the development of their businesses, a memorandum of understanding (MoU) was signed between Sharakah and the Small and Medium Enterprises Development Authority (ASMED).

The MoU aims to support entrepreneurship, empower SMEs, and enhance the sustainability of their business.

The MoU was inked by Halima Rashid Al Zari’ee, Chairperson of ASMED and Ali Ahmed Muqaibal, CEO of Sharakah.

Halima Rashid Al Zar’ee, Chairperson of ASMED, said, “This agreement comes to enhance the existing cooperation and partnership with Sharakah, as we seek to enhance the Authority’s role in empowering SMEs. We are committed to consolidating the presence of SMEs in all fields to increase their contribution to the GDP and the development of the national economy."

Ali Ahmed Muqaibal, CEO of Sharakah said, “The objective of this collaboration is to expand and boost the support extended to SMEs. The MoU will contribute to the advancement of entrepreneurship in Oman, boost the SME sector’s contribution to the economy, and make small businesses more active and robust.”