MUSCAT, SEPT 4
he Small and Medium Enterprise Development Authority (SMEDA) funded 363 projects in Dhofar Governorate worth RO 14.6 million since its inception, according to recent data.
In an effort to support business owners and simultaneously boost the tourism sector, the Authority, in collaboration with the Municipality, has provided several opportunities for small and medium businesses during the tourist seasons.
This includes providing business owners with well-equipped spaces to sell their products at prime tourist locations.
This year, SMEDA and Dhofar Municipality offered 130 outlets for SMEs and artisans. This included 85 outlets for SMEs, 55 of which are mobile food and beverage carts at Sahal Atin, and 30 exhibitor booths at a consumer exhibition in Atin Square. This is in addition to 45 outlets for artisans, 30 of which are booths at a traditional Omani artisanal exhibition in the village of Samharam, and 15 artisan booths at Taqah Fort.
Last year, the value of contracts awarded to small and medium-sized businesses in the Governorate amounted to RO 3.5 million, with a total of 480 businesses benefiting from operating event sites.
In addition, more than 500 temporary job opportunities were created as a result.
Furthermore, 290 artisans and artisanal institutions received support in the Governorate, worth a total value of RO 203,023.
The Authority has a total of six centres in the Governorate, and a total of 15,132 micro, small and medium enterprises, and 10 companies under the Samharam Incubator - a program specifically designed to accelerate the growth of creative enterprises in the governorate.
Just this year, the Authority announced that it approved financing requests worth RO 11.295 million in H1 of 2023 in collaboration with Oman Development Bank.
The Small and Medium Enterprise Development Authority was established by Royal Decree No. 107/2020 with the goal of assisting and integrating SMEs and artisan industries into the economic growth of Oman, by offering a variety of technical, training, and consulting programs to SMEs.
Additionally, SMEDA provides various funding programs totaling in RO 9.6 million in value.
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