SME Authority hosts 16th Social Protection Services dialogue
MUSCAT: The Small and Medium Enterprises Development Authority held its 16th dialogue session in Muscat, centring on social protection services for SMEs, in alignment with the strategic goals of Oman Vision 2040. The event brought together Halima bint Rashid Al Zari'iya, Chairperson of the Authority, officials from the Social Protection Fund, SME owners, and stakeholders from relevant entities.
Deliberations focused on increasing partnership and integration between small and medium enterprises (SMEs) and interested stakeholders, enriching supportive policies to encourage SME development. They were also aimed at imparting entrepreneurs with the passion to introduce new ideas that drive the development of priority economic sectors. To this end, steps are being taken to improve the overall business environment and make it more favorable for SMEs and to scout for viable opportunities for such businesses in various economic sectors.
The meeting was intended to foster cooperation, innovation, and operational efficiency across the SME sector—objectives that align with Vision 2040's diversification of the economy, empowerment of the private sector, and sustainable development agenda. Discussions on issues of current concern such as insurance coverage, subscription to the Social Protection Fund, and mechanisms for SME support were designed to help the Authority establish a better business environment and enhance resilience of small business.
With Oman's move towards a knowledge economy, the inclusion of SMEs in social protection systems ensures a more inclusive growth and efficient social safety net—two pillars of utmost importance to the Vision. The Authority renewed its commitment to an enabling, competitive, and economic space with SMEs as the center of national prosperity.
It concluded with an open discussion that encouraged frank conversation between policymakers and SME owners, further solidifying participatory and inclusive nature underpinning Oman Vision 2040's government and institutional development strategy.
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