OMAN has launched a five-year plan to expand its small and medium-sized enterprise sector, seeking to deepen private-sector growth as the sultanate consolidates recent fiscal gains and returns to investment-grade status.
The 2026–2030 SME Sector Implementation Plan, unveiled by the Small and Medium Enterprises Development Authority, or Riyada, aims to improve market access, boost SME competitiveness and raise the sector’s contribution to the economy, according to the Oman News Agency.
The plan supports innovation and entrepreneurship while promoting the transition to a knowledge-based economy, the Oman News Agency reported.
The initiative forms part of Oman Vision 2040 and the Eleventh Five-Year Development Plan, which prioritize private-sector expansion, diversification and job creation.
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