Oman: Move to attract more SMEs to transport, logistics and IT
The session was attended by Halima bint Rashid al Zar'i, SMEDA Chairperson, Saeed bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology, officials and business people.
The aim of the session is to improve the attractiveness of business environment attractiveness to SMEs, develop policies that support entrepreneurs, explore promising opportunities, motivate entrepreneurs to present innovative ideas and inform the public about its programme, projects and initiatives, and provide an opportunity to discuss topics related to economic affairs.
Khamis bin Mohammed al Shammakhi, MoTCIT Under-Secretary, said: 'The transport and logistics sector is a very promising sector as there are over 20,000 companies. What concerns us is facilitating opportunities for entrepreneurs to enter so that they can get more work and increase their sources of income, and create more jobs for Omanis. We confirm that the ministry is facilitating loans, and working with the Tender Board to enrich local content with specialists.' Dr. Ali bin Amer al Shaidhani, MoTCIT Under-Secretary for Communications and Information Technology, stated: 'Opportunities exist in this sector and there are some joint initiatives that will be worked on for the benefit of owners of small and medium enterprises. There were a number of questions about commercial activities related to technology in addition to the issue of financing innovative financing tools that are different from those that exist and we will work on them with the relevant designated authorities..' The session addressed four main themes. The first was about the challenges facing SMEs and reviewing possible solutions to improve the supportive environment. The second included policies and legislation that contribute to empowering SME and start-ups, and joint government initiatives to stimulate innovation and investment. The third was about facilities and incentives through business accelerators, while the last discussed services and initiatives.
"We have submitted a proposal to regulate the logistics sector and introduce modern technology to the relevant authorities in which we can provide job opportunities for Omanis. We believe in raising the percentage of Omanization in this sector and solving some of the problems and challenges facing it." Said Mohammed al Zaidi, Chief Financial Officer of Emad Logistics Company.
According to latest figures, the total number of SMEs in the transport and logistics sector amounted to 31,044 by the end of December last year. In the information and communications sector, there are 6,355 SMEs.
© All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
2 days ago
- Zawya
UAE: CBD total assets surpasses $40.84bln with 20 consecutive quarters of profit growth
Commercial Bank of Dubai (CBD) has announced its financial results for the second quarter and first half of 2025, achieving a remarkable milestone of 20 consecutive quarters of profit growth. The Bank reported a net profit before tax of AED1.862 billion, representing a 16.7 percent increase compared to the same half last year. CBD's strong growth was further underscored by its total assets surpassing AED150 billion for the first time in its history, reflecting sustained momentum and strategic execution. This performance has been driven by solid customer engagement, robust lending activity, and broad-based economic expansion supported by public sector investments and population growth. Dr. Bernd van Linder, Chief Executive Officer, said, 'Delivering 20 consecutive quarters of net profit growth whilst growing the balance sheet to exceed AED 150 billion are significant milestones for CBD. Our consistent performance over the past five years, despite global headwinds such as the pandemic, volatile interest rates and supply chain disruptions, demonstrates the strength of our strategy and our continued commitment to customers. We are pleased with the latest performance which is a testament to our disciplined growth and market leadership. We remain focused on delivering on our strategic targets for 2025 and beyond.' CBD's transformation agenda continues to deliver results. The Bank recorded its highest SME Net Promoter Score in over three years for H1 2025, following enhancements to onboarding and service delivery. At the same time, CBD's leadership in innovation was recognised through multiple industry awards, including Best Digitisation Initiatives, Best Mobile Banking Services, and Best Technological Innovation in Financial Services, affirming its digital-by-design ethos.
Khaleej Times
2 days ago
- Khaleej Times
CBD marks 20 consecutive quarters of profit growth with record H1 2025 earnings
Commercial Bank of Dubai (CBD) on Wednesday announced a net profit before tax of Dh1.862 billion for the first half of 2025, a 16.7 per cent increase compared to the same half last year. The result marked 20 consecutive quarters of profit growth – a feat unmatched by any other bank in the UAE over the same period. Total assets surpassed Dh150 billion for the first time in its history, reflecting sustained momentum and strategic execution. This performance has been driven by solid customer engagement, robust lending activity, and broad-based economic expansion supported by public sector investments and population growth. 'Delivering 20 consecutive quarters of net profit growth whilst growing the balance sheet to exceed Dh150 billion are significant milestones for CBD,' said Dr. Bernd van Linder, Chief Executive Officer. 'Our consistent performance over the past five years, despite global headwinds such as the pandemic, volatile interest rates and supply chain disruptions, demonstrates the strength of our strategy and our continued commitment to customers. We are pleased with the latest performance which is a testament to our disciplined growth and market leadership. We remain focused on delivering on our strategic targets for 2025 and beyond.' CBD's transformation agenda continues to deliver results. The bank recorded its highest SME net promoter score in over three years for H1 2025, following enhancements to onboarding and service delivery. At the same time, CBD's leadership in innovation was recognised through multiple industry awards, including best digitisation initiatives, best mobile banking services, and best technological innovation in financial services, affirming its digital-by-design ethos. The bank also supported national initiatives such as Aani payments and the 'Xport Xponential' programme by Etihad Credit Insurance, reinforcing its alignment with the UAE's vision for financial innovation and inclusion. Now in its sixth decade, CBD continues to deliver top-quartile returns, with a return on equity of 22.6 per cent, a cost-to-income ratio of 26.5 per cent, and improved asset quality. With a robust capital base and a clear digital-first strategy, CBD is well-positioned to sustain its growth trajectory and back the nation's ambition.
Zawya
2 days ago
- Zawya
Global Small and Medium Enterprises (SME) Ministerial opens: Small businesses key constituency in global trade, say South African SME minister, International Trade Centre (ITC) head
The inaugural Global SME Ministerial Meeting opened today, marking a milestone in recognizing small and medium-sized enterprises as a key constituency in global trade. The high-level event is co-hosted by the South African Department of Small Business Development (DSBD) and the International Trade Centre (ITC), with main events taking place on 23-24 July. The Ministerial was preceded by the Trade Promotion Organizations Leadership Dialogue on 22 July, in which heads of national trade promotion organizations developed strategies to better engage with SME ministers to bring the voice of small business into policymaking. Watch the livestream of the Ministerial high-level opening. More than 700 delegates from more than 60 countries are participating in the Ministerial, including ministers, heads of delegation, heads of national trade promotion organizations, business leaders and entrepreneurs. Ministerial-level delegates convened from across the world, from Bangladesh to Brazil, from Cameroon to Costa Rica, from Senegal to Switzerland, from the United Arab Emirates to the United Kingdom. In her welcome remarks, South African Minister of Small Business Development Stella Tembisa Ndabeni said: 'Let this Ministerial Meeting mark the beginning of a bold new global compact for MSME development; one that expands access to markets, unlocks affordable finance, accelerates digital inclusion, and ensures that women, youth and underserved communities are not spectators, but architects of economic transformation.' She added: 'Let us commit to practical, measurable actions that position MSMEs as central pillars of resilience, innovation and sustainability. Let us work towards a global enabling ecosystem, where no entrepreneur is left behind because of where they live, how much they earn, or who they are.' In her welcome remarks, ITC Executive Director Pamela Coke-Hamilton said: 'Now, this Ministerial is no talk shop. This is no place for posturing or politics. This is a space for us to marshal our collective knowledge and our energy and find solutions across the three areas that will bring the benefits of trade within reach of more SMEs: access to finance, digital transformation and green competitiveness.' Addressing ministerial-level delegates, she said: 'When you go back to your capitals, your ministries, your cabinet meetings and your meetings with heads of state and government, you'll be taking back with you concrete solutions, with the evidence to back them up.' Expected outcomes include the endorsement of a call-to-action in which countries align on the three main areas that will harness the development of SMEs—access to finance, digital transformation and green competitiveness —and develop a roadmap for future Ministerial Meetings to take place every two years, to ensure discussions produce outcomes for countries. See the latest information on the Ministerial on the Global SME Ministerial Meeting landing page. Distributed by APO Group on behalf of International Trade Centre.
