Tuesday 10 / February / 2026
Muscat: The Small and Medium Enterprises Development Authority (Riyada) on Tuesday showcased the support policies, enabling programmes, specific indicators, and the outlines of its plan for 2026.
During its annual media briefing, the authority pointed out that in preparing its annual plan for this year, it relied on more than 700 initiatives and training programmes distributed across 8 main strategic pillars. These include promoting entrepreneurship culture, scaling up enterprises and accelerating their regional and global expansion, maximising local content, accessing financing with broader and more innovative options, expanding incubators and entrepreneurship centres, developing governorates and leveraging their comparative advantages to support SMEs, the National Programme for Craft Industries, and supporting innovative and technology-based startups.
Halima Rashid Al Zar'ee, Chairperson of Riyada stated that the Authority has completed the implementation of the Small and Medium Enterprises Sector Strategy, which achieved good results, with the sector's contribution to the Gross Domestic Product (GDP) reaching about 21% by the end of 2024.
She clarified that the total number of SMEs registered in the Authority's register by the end of December 2025 reached 130,359. She noted that the total number of enterprises that obtained the Riyada Entrepreneurship Card in the second half of 2025 reached 58,388, of which 25,986 cards were active. The national workforce within these accounted for approximately 192,714 employees. The card serves as a document enabling its holder to obtain numerous facilities across various sectors from relevant entities.
She pointed out that the total number of trainees participating in the Entrepreneurial Readiness Programme last year reached 7,453 beneficiaries. This is an intensive, integrated, and specialised training program to develop the cognitive and entrepreneurial skills of entrepreneurs, aligning with rapid changes in the entrepreneurship ecosystem and enhancing the technical and technological practices that contribute to project sustainability, she added.
She explained that the Authority participated in 413 local and international events last year, benefiting 23,794 enterprises, with 608 enterprises benefiting from e-marketing.
She explained that the total number of applications received for handicraft support approved by the Authority until the end of 2025 reached 5,813 requests. Meanwhile, the total number of individuals obtaining licenses to practice home-based activities reached 7,026 artisans, with a total value exceeding OMR4 million.
She affirmed that the Authority launched a number of initiatives in local value added, most notably the SME Scaling Programme to elevate the classification level of SMEs, achieve their growth within the sector, and ensure their ascent to a higher classification. She indicated that the total number of small enterprises that grew into medium-sized enterprises last year reached 294, while the number of medium-sized enterprises that grew into large enterprises reached 41.
She noted that the Sultanate of Oman ranks 8th in the Entrepreneurship Index among 56 participating countries in the Global Entrepreneurship Monitor (GEM) report for 2024. It is also among the top 15 countries for the speed of evolution and growth of startups and among the top 10 talent-attractive countries, according to the "Startup Genome" report for the Middle East and North Africa for 2023.
For his part, Sayyid Mazin Saif Al Busaidi, Deputy Chairman of Riyada confirmed that the Authority is continuing to implement a package of initiatives and training programs for entrepreneurs. He explained that the total number of specialised and general training programs implemented by the Authority until the fourth quarter of last year reached 245, benefiting 29,513 entrepreneurs.
He stated that the total value of contracts announced in the first edition of the "Growth Entrepreneurship" forum exceeded OMR44 million. This edition featured the organisation of 340 bilateral meetings, enabling entrepreneurs to discuss their projects and learn about available requirements and facilities.
He said that Riyada last year opened outlets of the "Craft House" in the governorates of Muscat, Dhofar, Musandam, and Al Dakhiliyah. The total number of craft enterprises registered in these outlets reached 175, and the number of products displayed on the outlet's electronic platform reached 1,744.
Qais Rashid Al Toubi, Deputy Chairman of Riyada for Finance and Investment, stated that the Authority aims to finance no less than 200 projects during the current year across various economic sectors.
He added that the total number of financing requests approved for funding from the "Al-Azm" lending portfolio until the end of December 2025 reached 514 requests, with a total value of OMR44,385,764.
During the meeting, the Authority revealed that the number of SMEs incubated in its various business centers amounts to 137 enterprises, which have provided 231 job opportunities for Omani youth across various economic activities, with a revenue rate exceeding OMR3 million.
The Authority seeks to incubate SMEs across various governorates of the Sultanate of Oman in cooperation with relevant entities in the government and private sectors. Since its launch, it has established 30 general and specialised business incubators.
The Authority clarified that the number of innovation-based startups by the end of last year reached 205 companies, employing 825 employees, with a market value reaching OMR395 million.
The Authority indicated that the total approvals for land with usufruct rights granted to SMEs holding the Riyada Entrepreneurship Card for industrial uses in most governorates of the Sultanate of Oman reached approximately 395 by the end of December 2025. Meanwhile, the land plots with usufruct rights offered through the "Tatweer" platform reached 877.
