Muscat: The Board of Directors of the Public Authority for Small and Medium Enterprises Development ‘Riyada’ on Tuesday held its fourth meeting for 2019, under the chair of Dr. Ali bin Mas’oud Al Sunaidy, Minister of Commerce and Industry, Chairman of the Board.
The Board discussed Riyada strategic programmes for 2020 to support and develop SMEs sector, including usufruct land, the investment map to establish new projects, the first Gulf Entrepreneurship Forum in the Governorate of Dhofar, SME markets in the governorates, the establishment of Riyada centre for packaging in the Governorate of Muscat, and the e-market for SMEs.
The Board approved the general framework for the first Gulf Entrepreneurship Forum, which is scheduled to be held in the Governorate of Dhofar in September 2020. The forum comes as per a decision of the 57th meeting of the GCC Commerce Cooperation Committee, which was held in Muscat in May 2019.
The first version of the forum will be held in the Sultanate. The Board reviewed a project to implement an increase in the percentage of Omanisation in maintenance and supply services in the water, electricity and other services sectors.
The move aims to support Omani youth to establish SMEs in the governorates of the Sultanate and empower, qualify, and promote them in order to run such businesses.
The Board also reviewed details of the e-market project for SMEs; one of the most important initiatives that Riyada will implement to e- promote products and services of entrepreneurs. This project will contribute to the spread SMEs to the largest possible segment inside and outside the Sultanate.