The Wilayat of Khasab celebrated the inauguration of the Musandam Business Incubator, a significant initiative designed to attract and support entrepreneurs.
Dr Ali al Sunaidi, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), presided over the ceremony in the presence ofIbrahim al Busaidi, Governor of Musandam, and Halima al Zariya, President of Authority for Small and Medium Enterprises Development. The incubator currently houses 10 SMEs.
Dr Al Sunaidi expressed delight at witnessing young entrepreneurs transition from household activities to the newly launched incubator. He highlighted the importance of business centers and incubators as critical infrastructure that provides a nurturing environment for business development and promotes commercial activity. These centers are instrumental in spreading the culture of entrepreneurship and enhancing the entrepreneurial spirit across various societal segments.
Manea al Shehhi, ASMED Director in Musandam Governorate, elaborated on the services provided by the Musandam Business Incubator. These include shared workspace and offices for incubated projects and institutions, alongside essential resources and services for establishing and growing commercial ventures. The incubator also offers consultation, guidance, training, marketing, and promotional services.
Oman has placed significant emphasis on future strategic planning, exemplified by the “Oman 2040” vision and comprehensive development plans. These plans underscore the necessity of increased decentralization during the current period. His Majesty Sultan Haitham bin Tarik’s recent visit to Musandam highlighted the progress achieved through decentralisation, with the issuance of the governorate system and the municipal councils’ law granting governors broad powers and the requisite financial and administrative resources to manage and develop their regions.
Musandam Governorate's strategic location presents numerous economic development opportunities, particularly in the tourism, fisheries, and services sectors. The launch of the Musandam Business Incubator shows the governorate's commitment to harness these opportunities and foster sustainable economic growth.
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