Al Raffd Fund, Sandan sign pact to support 20 SME projects

Muscat - 

Al Raffd Fund has signed a cooperation agreement with Sandan Development Company to support 20 small and medium enterprise (SME) projects at the Sandan Industrial Park with special terms and prices.

The agreement was signed by Tarik bin Sulaiman al Farsi, chief executive officer, Al Raffd Fund and Saeed bin Nasser al Rashidi, chief executive officer, Sandan Development Company with entrepreneurs, media professionals and those who are interested in the progress of SME sector in Oman.

Speaking on the occasion, Farsi said, “Sandan Industrial Park is a project that has all the indicators of success. It is the first-of-its-kind project in Oman. We have decided to support 20 projects comprising vehicle showrooms, workshops and building materials shops. We have got support from Sandan to do that. We hope that the projects that we will support will help in fulfilling the ambitions of Omani youth.”

In addition, Farsi said that this agreement comes within the framework of efforts to support and develop the SME sector. “We aim to seek cooperation with government and private entities to provide the necessary facilities to the beneficiaries.”

He thanked those companies who have started to support SMEs. “Cooperation with Sandan Development Company will have a positive impact on the projects financed by Al Raffd Fund. This is to ensure that the objectives of the Al Raffd Fund are met as per the directives of His Majesty Sultan Qaboos bin Said.”

Addressing the gathering, Rashidi said, “The agreement is a step in the process of supporting entrepreneurs as Al Raffd Fund will fund 20 projects in the Sandan Industrial Park. This cooperation between Sandan and Al Raffd embodies a common goal of supporting and encouraging small enterprises in Oman.”

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