Riyada to launch three incubators for SMEs in free zones

Around 30 small and medium-sized enterprises will benefit from the services

Oman Authority for Small and Medium Enterprises Development (riyada).

Oman Authority for Small and Medium Enterprises Development (riyada).

Madayn/Handout via Zawya

Riyada (The Authority for Small and Medium Enterprises Development) is gearing up to launch three incubators and business centers in special economic zones and free zones, to groom entrepreneurs and promote growth.

These incubators will help small and medium enterprises to enhance their contributions to the development of special economic and free zones.

The Authority has identified the Special Economic Zone at Duqm, the Sohar Free Zone, and the Salalah Free Zone, for the launch.

Around 30 small and medium-sized enterprises will benefit from the services of incubators and business centers in areas related to investment.

The total number of SMEs registered in SEZD until June was about 840, while 46 new enterprises were registered until June this year.

Riyada announced that the cumulative value of the works allocated to small and medium enterprises for the ongoing projects is RO 63.716 million.

Halima al Zari, Chairperson of the Authority, visited a number of projects and institutions in Al Wusta Governorate including Duqm, and held a number of meetings with officials to develop the small and medium enterprise sector, craftsmen and prepare them to face the challenges.

The visit highlights the importance of the SMEs sector and the Authority officials urged young people to engage in entrepreneurship, especially projects aiming at national income diversification as well as projects based on innovation, artificial intelligence and advanced technologies.

The Authority continues to educate young people about the importance of benefiting from the range of programmes and services, which include training them and enabling them to take advantage of the opportunities available in the economic and free zones.

This is done by linking them to projects implemented by government and private agencies, which will motivate and enhance them to establish projects in a way that ensures their participation in the national economy and , at the same time, ensures the success of and the growth of their projects.

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