In a move to strengthen regional collaboration, a high-level delegation from Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) met with Oman’s Small and Medium Enterprises Development Authority (Riyada) in Muscat. The visit, led by Monsha’at Governor Sami bin Ibrahim Al Hussaini, aimed to foster the exchange of expertise and best practices in supporting the region’s burgeoning entrepreneurship sector.
Exchanging Knowledge and Best Practices
The Saudi delegation was received by Halima bint Rashid Al Zari’yah, Chairperson of Riyada, at the authority’s headquarters. Discussions focused on reviewing successful models for empowering entrepreneurs and enhancing the programs and services offered to small and medium-sized enterprises (SMEs) in both countries. This strategic collaboration is aligned with the national goals of Oman Vision 2040 and Saudi Vision 2030, which both emphasize economic diversification and SME development.
A Firsthand Look At Oman’s Ecosystem
To gain practical insights, the Monsha’at delegation toured several of Riyada’s business centers, incubators, and marketing outlets in Muscat and Nizwa. The visit also included direct meetings with a number of Omani entrepreneurs, providing the Saudi delegation with a firsthand look at successful ventures across various sectors and an opportunity to learn from their experiences on the ground.
A Commitment To Continued GCC Collaboration
Both parties affirmed the importance of continuing such visits to intensify cooperation in innovation, modern technology, and entrepreneurship. The meeting concluded with a shared commitment to integrating their efforts, aiming to bolster support for youth across the Gulf and expand the crucial role of SMEs in driving regional economic development.
About Riyada and Monsha’at
Riyada is the primary government body in Oman tasked with developing and empowering small and medium enterprises. It provides a range of services including training, mentorship, and access to funding to foster a robust and sustainable entrepreneurial ecosystem.
Monsha’at is the Saudi Arabian government authority responsible for organizing, supporting, and sponsoring the SME sector in the Kingdom. Its mission is to create a pro-business environment that enables SMEs to thrive, thereby increasing their contribution to the national GDP.
Source: Al Sahwa
