News

Oman to use budget surplus for priority projects

Oman recorded a budget surplus of OMR 300 million (USD 780 million) during the first quarter of 2022 according to official figures.

The numbers suggest that the country is recovering from the pandemic after strategic government financial measures were assisted by oil price increases. The surplus will aid the goals of the medium-term financial balance plan for 2020 – 2024. These goals include stimulating...

09/06/22

Stakeholders reaffirm support for Oman’s SMEs

Oman’s Public Authority for SME Development (Riyada) and other key stakeholders are continuing their support of small and medium enterprises (SMEs).

Riyada is offering funding options with flexible repayment terms for amounts between OMR 15 thousand (USD 39 thousand) to OMR 250 thousand (USD 650 thousand). The repayment period...

02/06/22

New reforms in the financial sector in Oman

The Sultanate of Oman`s Capital Markets Authority (CMA) has licensed Ethis Investments as the first global Islamic crowdfunding operator.

Recently, the CMA updated crowdfunding cross border regulations to attract international, regional and national crowdfunding platforms and FinTech start-ups. The new framework tasks the CMA with overseeing all crowdfunding investment...

26/05/22

Oman is planning to supercharge its economy

The Sultanate of Oman recently unveiled several mega construction projects as part of the Vision 2040. The developments offer new investment opportunities for national and international investors in line with the mandate of the Oman Investment Authority.

The Public Establishment for Industrial Estates (Madayn)...

19/05/22

AgriTech can address food security issues in GCC

The countries in the Gulf Cooperation Council (GCC) are increasing their efforts to address issues related to food security by investing in domestic production and embracing innovative agri-tech (or agricultural technology) solutions according to a new report.

The report titled 'Agri-Tech and Food Security in the GCC' was developed by the Oxford Business Group (OBG) in partnership with the [Arab...

12/05/22

Oman registers over 62,000 SMEs in November

Oman’s Authority for Small and Medium Enterprises Development (Riyada) registered 62,335 small and medium enterprises (SMEs) in November 2021. The figures released by the National Centre for Statistics and Information (NCSI) represent an increase of 30.4 percent year on year (y-o-y) compared to November 2020 indicating the [ongoing recovery...

20/01/22

Oman’s Sohar Port & Freezone announces results

Sohar Port & Freezone has announced positive results for the first quarter of 2021 recording a year-on-year growth across all cargo categories.

The maritime, transport and logistics sector is an important part of the Oman Vision 2040 and the authorities have worked hard to increase the capacity and capability of the ports in the country. The recovery of world economies...

07/10/21

Many SMEs registered in Oman in sign of recovery

The country has witnessed an increase in new registrations of small and medium enterprises (SMEs) in a sign of recovery from the pandemic.

The number of new listings at Riyada, the Public Authority for Small and Medium Enterprises Development, amounted to 53,166 at the end of May 2021 compared to 44,197 at the end of May 2020.

The most recent data from the [National Centre for Statistics and...

30/09/21

New measures to strengthen Saudi Arabian relations

His Highness Sultan Haitham Bin Tariq, the Sultan of Oman, visited Saudi Arabia most recently following an invitation by His Highness King Salman Bin Abdul Aziz Al Saud, the Custodian of the Two Holy Mosques in the Kingdom of the Saudi Arabia.

The Sultan’s visit was his first foreign trip since becoming Oman’s leader at the beginning of 2020 and was...

23/09/21

Oman’s ecosystem for start-ups is expanding

The country’s ecosystem for start-ups and scale-ups benefits from the investments in research, development and innovation. It is expanding in line with the objectives to diversify Oman’s economy and to drive the participation of the private sector.

The establishment of the Oman Technology Fund (OTF)...

16/09/21