Muscat: Ta’asees initiative targeting fresh graduates has been approved by the OCCI board at its meeting, Said bin Saleh Al Kayoumi, Chairman of Oman Chamber of Commerce and Industry board of directors, said.
During the press conference at OCCI headquarters, Al Kayoum isaid that the initiative aims at identifying fresh graduates who desire to set up innovative, feasible and viable projects.
He pointed out that there are 46 business projects submitted by a group of top private sector companies. Projects will be also announced every three months as OMR1 million have been allocated to set up a Fund to support and empower entrepreneurs in the Sultanates.
He also pointed out that the current contracts and projects include sale and repair of auto tyres, three shops, auto spare parts in Hayma, Liwa and A’ Seeb, agency for a marble factory in Al Suwaiq and Al Mudhabii, Taxi Musandam Project, usufruct for laundry shop and other projects as well.
He added that OCCI in collaboration with the private sector will provide direct and indirect subsidy to start-up companies through two pathways through the Fund.
Loans with quick turn around and easy terms will be availed to set up projects. The second way will be through awarding contracts and businesses to the start-up companies either through OCCI or through the major private sector companies.
The government will be also urged to give priority in certain tenders to these companies to help them enhance their presence in the local market and then move to the regional and international markets.
He also pointed out that there are special terms to benefit from Ta’asees initiative, such as the applicant should be a job seeker. The application should be submitted by a team of 2-4 Omani people as individual participation is not allowed. Applicant for the competition, which should be between 18 to 35 year olds, may not take part in more than one team. The team members should have the necessary skills to manage the project. The proposed project should be viable for implementation and serve the needs of the local market.
The idea of the project should be creative and should not be submitted to a similar competition. The team should be dedicated to full time management of the project in case they win.