Oman’s Small and Medium Enterprises Development Authority (Riyada) recently organized a high-level dialogue session, “Opportunities and Challenges for Small and Medium Enterprises,” to reinforce its commitment to strengthening partnerships and enhancing the competitiveness of the Sultanate’s SME ecosystem.
The session brought together key government and business leaders, including Dr. Mahad bin Said Baowain, Minister of Labour, and Halima bint Rashid al Zariyah, Chairperson of Riyada. The event saw wide participation from SME owners and representatives from several government entities, creating a direct channel for communication and problem-solving.
Fostering Dialogue on Opportunities and Challenges
Entrepreneurs actively engaged in discussions, highlighting the most pressing issues faced by SMEs, particularly within the labour sector. The session was designed to strengthen the role of small and medium enterprises in identifying market opportunities and navigating challenges through innovative solutions, improved operational efficiency, and enhanced collaboration between the government, the private sector, and the SME community.
Officials responded with constructive proposals aimed at improving service efficiency and outlining a path for development in the next phase of Oman’s economic growth.
Addressing Labor and Legislative Hurdles
Key topics included a deep dive into supportive policies and legislation impacting the labour and employment sector. Discussions also covered fees, licensing requirements, and critical enablers such as wage support initiatives, incentives, on-the-job training, and human capital development programmes.
Addressing the audience, Minister of Labour Dr. Mahad bin Said Baowain praised the ministry’s unified occupational guide, which currently covers around 1,500 professions. He announced that an expanded guide featuring more than 3,000 professions will be launched soon, alongside new, streamlined mechanisms for adding emerging professions to the list.
Oman’s SME Landscape by the Numbers
According to the latest statistics from Riyada, as of October 2025, the number of SMEs registered in its database reached a total of 128,812.
This figure is comprised of 109,099 micro-enterprises, 18,654 small enterprises, and 1,059 medium enterprises. Additionally, 26,105 of these enterprises have successfully obtained the Entrepreneurship Card, a key credential for accessing support and incentives.
About Riyada
The Small and Medium Enterprises Development Authority (Riyada) is the primary government body in Oman responsible for the development and support of the SME sector. Its mandate is to foster a competitive and sustainable entrepreneurial ecosystem by strengthening partnerships with all stakeholders and providing resources, training, and policy support to empower Omani entrepreneurs.
Source: Zawya
