Muscat – Oman Chamber of Commerce and Industry (OCCI), represented by its Small and Medium Enterprises Committee, recently collaborated with Gulf Integrated Investment Company to launch an initiative aimed at bolstering small and medium enterprises (SMEs). 

The initiative aims to fortify the SME sector, stimulate economic activity, and boost commercial growth in the sultanate.

Led by Sheikh Ahmed bin Amer al Musalhi, Chairman of OCCI’s Small and Medium Enterprises Committee, the initiative aims to provide vital support to SMEs by facilitating financing for purchase contracts and offering facilities to fuel their growth and expansion.

The comprehensive initiative encompasses over 20 services catering to diverse sectors, offering significant advantages such as 0% interest rates and eliminating the need for collateral. Additionally, it allows direct contracting with payment facilities extending up to 90 days, streamlining the procurement process for SMEs.

Highlighting the pivotal role of the initiative in strengthening SMEs, Musalhi said it will reduce financial burdens while enhancing their competitiveness. By empowering SMEs with financing options for purchase contracts, the initiative will not only boost economic activity but also amplify the purchasing power of individuals and companies. This, in turn, will encourage economic development and stimulate commercial growth.

In alignment with OCCI’s commitment to nurturing the SME sector, Musalhi encouraged both male and female business owners to leverage this opportunity for further advancement. With flexible financing for purchase contracts, individuals and companies can seamlessly execute their projects and acquire essential goods and services, thereby invigorating economic activity and bolstering the commercial landscape.

Mohammed bin Hassan al Bahrani, proprietor of Gulf Integrated Investment Company, emphasised the significance of this support initiative in revitalising economic activity. By simplifying the procurement process and enabling easier access to goods and services, the initiative instils market confidence and empowers SMEs to boost sales and expand their operations. Furthermore, it presents new avenues for growth and expansion, fostering sustainability and encouraging deeper economic collaboration among stakeholders.