The Authority for Small and Medium Enterprises Development (ASMED) signed a cooperation agreement with Oman Investment and Finance Company – OIFC (Khedmah) on Wednesday.
The agreement will provide a package of incentives and subsidy for small and medium enterprises (SMEs) to press ahead in boosting the national economy. It was signed by Abdulaziz Said al Raisi, Vice Chairman of ASMED and Saud Ahmed al Siyabi, CEO of Operations in Khedmah.
As per the agreement, Khedmah will allocate free-of-charge spaces in its branches, covering electricity and water expenses, for SMEs to display their products and services. It will also provide marketing outlets for the beneficiaries by advertising their products on Khedmah’s media platforms.
Khedmah will also work to enhance the SMEs’ abilities by engaging them in technical and specialized development programmes in financial and administrative fields.
Moreover, ASMED will be responsible for field inspections to supervise the performance of those SMEs and to offer marketing and technical support for entrepreneurs.
Al Raisi said that this cooperation realizes the ASMED strategy in enhancing integration and active partnership with the public and private establishments. (With inputs from ONA)
