Sharakah amplifies SME growth in Oman

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Oman - Sharakah, Oman's premier SME development company, has reaffirmed its commitment to fostering an ecosystem rich with opportunities for local manufacturers and industrial projects.

With 25 years and more of experience in SME development, Sharakah stands as a beacon of support for entrepreneurs, offering services such as equity financing, loans and development programmes that enhance entrepreneurial skills.

It provides tools for risk assessment, performance tracking, and facilitates global market integration, thus enriching Oman's SME ecosystem.

Sustainable sectors

Underpinning its strategy, Sharakah is also venturing into new sustainable sectors such as renewable energy, In-Country Value projects, and ICT. These sectors are identified as pivotal for the sustainable growth of SMEs in the sultanate.

Ali Ahmed Muqaibal, CEO of Sharakah, said: “Aligned with the 2040 Industrial Strategy, Oman is honing its focus on sectors that are knowledge-based, rely on natural resources, or are capital-intensive. The strategy envisages a paradigm shift to an economy bolstered by diverse and technologically advanced industries.

“The nation's industrial vision includes embracing Fourth Industrial Revolution technologies to empower factories and the conceptualization of green industrial and smart cities. These steps are set to redefine the manufacturing environment, making it more sustainable, efficient, and competitive on a global scale.”

Emphasising the necessity for SMEs to be competitive and resilient in the global market he said: “We are pleased to offer our strategic support on building the capacity and capability of SMEs in Oman, ensuring our commitment to facilitating innovative funding solutions and build our corporate partnerships and programmes to contribute in rejuvenating Oman’s manufacturing and industrial sector and initiate an era of industrial growth and innovation.”