Muscat: The National Business Centre (NBC), which pertains to the Public Establishment for Industrial Estates - Madayn, organised on Tuesday an event as part of NBC’s Mashura initiative at Riyada incubator. Held in cooperation with the Public Authority for Small and Medium Enterprises Development (Riyada), the event highlighted the opportunities available in Oman Food Investment Holding Company (OFIC
) for entrepreneurs and SMEs.
Asim Al Zadjali, Investment Manager at Oman Food Investment Holding Company, stated that OFIC is a state-owned-enterprise aimed at promoting Oman’s food security. He noted that the vision of OFIC is to become the recognised leader for promoting strategic investments in the food sector locally and internationally to improve food security in the Sultanate. He added that this shall be achieved by investing in food projects individually and in partnership with various strategic investors inside and outside Oman aiming to promote self-sufficiency and food security in Oman.
Al Zadjali elaborated on the objectives of OFIC, which comprise targeting commercially viable projects in Oman and internationally that will create both strategic and financial value, while offering a clear exit strategy; developing partnerships with private and public stakeholders to mobilize various resources and to attract more investment to the food sector; promoting the adoption of responsible, efficient and sustainable practices across the value chain; targeting a mix of agrifood projects in urban and rural areas to create employment, economic diversification and growth of SMEs; improving food quality standards by adopting well established international practices; leveraging the competitive location of Oman to position it as a center of excellence in food production for the region; and becoming a trusted center of excellence for integrated agri-food solutions.
He also elaborated on the companies that fall under OFIC, which include Oman Flour Mills, Al Murooj Dairy Company, Al Namma Poultry Company, Oman Fisheries Company, Al Bashayer Meat Company, Oman Oilseeds Crushing Company, Oman Dates Production and Packaging Company, International Seafood Company, Mazoon Dairy Company, and National Feed.
Al Zadjali pointed out that the available opportunities at OFIC for entrepreneurs and SMEs include opportunities in the establishment and construction phase, transporting and storage, provision of human cadres, safety requirements, raw materials, branding services, marketing tools and information system. Additionally, there are also opportunities in the production phase such as logistics, warehousing, finding distributors to transport products the various governorates in Oman and to public and private bodies and hotels, among other opportunities.
Mashura event, which consists of a series of workshops that raise awareness on various topics related to entrepreneurship, is being sponsored by Oman Oil Refineries and Petroleum Industries Company (Orpic) and Oman Oil Company. It should be noted that the National Business Centre is an initiative by Madayn to offer promising Omani entrepreneurs a platform to develop their business ideas and advance them into growing ventures. Objectives of NBC comprise facilitating and supporting the growth of investable ideas into successful businesses; building entrepreneurial skills through dedicated and focused training, coaching and mentoring; and providing business support facilities from office space, administrative support, financial support and consultancy services that are crucial in ensuring the success and survival of new ventures.