Muscat – His Majesty Sultan Haitham bin Tarik held a meeting with businesspersons and owners of small and medium enterprises (SMEs) at Al Alam Palace on Wednesday.

His Majesty the Sultan touched on the future approaches of the State and its policies aimed at maintaining the pace of the comprehensive development process as planned in Oman Vision 2040.

Through the meeting, His Majesty the Sultan underscored his great attention, his continuous follow-up of private sector affairs and his keenness to consolidate partnerships and coordination between the public and private sectors in the upcoming stage.

His Majesty the Sultan underlined the importance of enhancing the role of the private sector and enabling it to play its envisaged role by integrating with all components of the Omani economy and boosting the country’s economic development.

His Majesty the Sultan commended the role of the private sector and business owners in meeting the future aspirations of the Omani economy, notably by supporting efforts made to establish a powerful private sector that leads a competitive economy that is capable of integrating with the global economy.

This, His Majesty noted, is realised by according attention to the knowledge-based economy achieved by applying research and utilising the best technologies and innovations, namely technologies related to the Fourth Industrial Revolution.

His Majesty stressed the need to prepare the business environment to be more competitive and attractive for investments and capable of generating more employment opportunities – an environment in which the government exercises a regulatory role aimed at achieving efficiency and successful management.

In this context, His Majesty the Sultan hailed the role of the Ministry of Commerce, Industry and Investment Promotion.

As part of his Royal Attention to SMEs and start-ups, His Majesty the Sultan affirmed the significance of empowering these within the Omani economy. He laid emphasis on the integration of these businesses with large companies through innovative solutions and by offering quality business opportunities in the local and foreign markets. His Majesty expressed his appreciation of the role played by the Authority for Small and Medium Enterprises Development.

His Majesty the Sultan also lauded the role of Oman Chamber of Commerce and Industry (OCCI), which, he said, is considered the prime mover of the private sector. He touched on OCCI’s new system, which was implemented after engaging a large segment of business owners and listening to their views.

His Majesty underlined the importance of enabling the OCCI to play its role as a representative of the private sector and achieving its objectives in a manner that enhances its growth and augments its contribution to the gross domestic product (GDP), notably in the sectors of economic diversification.

Within the context of His Majesty’s interest in everything that would contribute to strengthening the national economy, special importance was accorded to SME business owners’ benefiting from the infrastructure, facilities, stimulating economic packages, and many other programmes offered by the government, including the promotion of local content of Omani industries and other incentives and programmes.

At the conclusion of the meeting, His Majesty the Sultan underscored the significance of forging an effective partnership between the government and private sectors, so that the private sector can play its desired role in implementing projects and investments that contribute to economic diversification, the growth of GDP and the creation of employment opportunities for citizens.

His Majesty the Sultan wished all success in their endeavours to realise the good of this dear country.

The meeting was attended by Sayyid Bilarab bin Haitham bin Tarik al Said, Chairman of the Supervisory Committee for the Start-ups Programme, Sultan bin Salim al Habsi, Minister of Finance and Chairman of the Financial and Economic Committee of the Council of Ministers, Dr Hamad bin Said al Aufi, Head of the Private Office, Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, Dr Mahad bin Said Ba’owain, Minister of Labour, and Halima bint Rashid al Zar’ee, Chairperson of ASMED.