MUSCAT : In the document submitted for public consultation, the SMEDA indicated that the preparation of strategies for the development of small and medium enterprises aims to ensure the provision of a business environment that supports the growth and development of these enterprises.

The document, prepared with the participation of a number of government and private agencies, is related to the entrepreneurship system in the Sultanate of Oman. It will also help increase their chances of launching into global markets by strengthening the export capabilities of the enterprises.

The objectives of the SME sector strategy is to focus on consolidating the culture of entrepreneurs by raising awareness, enhancing capabilities in the field of entrepreneurship, enhancing the competitiveness and productivity of SMEs by building innovation and digital transformation capabilities, and developing various financial tools for enterprises, while enhancing access to finance and foreign capital. The strategy reached the formulation of 21 initiatives aimed at developing small and medium enterprises sector and laying out a scheme to classify them through governance, ease of doing business, competitiveness, local added value, international expansion, and a package of initiatives in the field of creative craft industries.

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