Sharakah is Committed to the Growth of Oman's SMEs

Sharakah is Committed to the Growth of Oman's SMEs

By Staff Writer, 15 November 2023

Oman's leading SME development business, Sharakah, is resolute in its efforts to foster a thriving atmosphere for regional manufacturers and industrial ventures, and it is committed to providing crucial assistance to entrepreneurs.

With over 25 years of experience in SME development, Sharakah serves as a vital source of assistance for entrepreneurs by providing services such as equity financing, loans, and developmental programs aimed at enhancing entrepreneurial skills.

The company not only facilitates financial support but also equips businesses with tools for risk assessment and performance tracking, fostering global market integration and enriching Oman's SME ecosystem.

Diversification into Sustainable Sectors

As part of its strategic approach, Sharakah is venturing into new sustainable sectors, including renewable energy, In-Country Value projects, and Information and Communication Technology (ICT).

These sectors are identified as crucial for the sustainable growth of SMEs in the Sultanate.

Ali Ahmed Muqaibal, CEO of Sharakah, highlighted the alignment of Oman's efforts with the 2040 Industrial Strategy.

He emphasized the nation's focus on knowledge-based sectors, those reliant on natural resources, and those that are capital-intensive. The strategy envisions a shift toward an economy strengthened by diverse and technologically advanced industries.

Muqaibal stated, “Oman's industrial vision encompasses the embrace of Fourth Industrial Revolution technologies to empower factories and the conceptualization of green industrial and smart cities. These steps are poised to redefine the manufacturing environment, making it more sustainable, efficient, and globally competitive.”

Building Capacity and Capability for Global Competitiveness

Underlining the necessity for SMEs to be competitive and resilient in the global market, Muqaibal expressed satisfaction in offering strategic support.

He emphasized the company's commitment to building the capacity and capability of SMEs in Oman, facilitating innovative funding solutions, and forging corporate partnerships and programs to contribute to the rejuvenation of Oman's manufacturing and industrial sector.

Sharakah aims to usher in an era of industrial growth and innovation, aligning with Oman's vision for a dynamic and sustainable economic future.


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