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Over RO74mn allocated to SMEs in Duqm

5 Feb 2024 Over RO74mn allocated to SMEs in Duqm By OUR CORRESPONDENT

Muscat – The Special Economic Zone at Duqm is actively supporting small and midsize enterprises (SMEs) by committing to allocate 10% of all projects in the zone, an official said.

Talal bin Said al Bartmani, a specialist in SMEs at the zone, mentioned that SEZAD offers a 50% reduction in fees for all services provided to SMEs in the region. This reduction applies to over 130 activities, including registration services, commercial registry, and licences for entrepreneurs launching small and medium projects.

Till the end of 2023, there were 981 registered SMEs in the zone. The total value of business assigned to these enterprises by companies operating in the region from 2016 to 2023 amounted to RO74.5mn, with RO6.7mn assigned in 2023 alone.

Salim bin Ali al Shehri, Director of the SME Development Department in Al Wusta governorate, highlighted efforts to support entrepreneurs through specialised training programmes, including the ‘Jahezey’ programme, economic feasibility studies, and craftsmanship training for workers in the traditional crafts sector.

There are also two business incubators in Al Wusta, namely Sharaa Al Duqm Incubator and another at the Dry Dock in Duqm, he informed.

Abdul Rahim bin Zayed al Junaibi, Director of the Oman Chamber of Commerce and Industry branch in Al Wusta, emphasised the chamber’s commitment to promoting business growth and motivating entrepreneurs. The chamber, through the one-stop shop in SEZAD, provides all necessary services and facilities for entrepreneurs and investors.

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