Monday 28 / October / 2024
Muscat: His Majesty Sultan Haitham Bin Tarik has met business owners, small and medium enterprises and start-up companies at Al Barakah Palace on Monday, October 28, 2024.
Oman News Agency (ONA) reported that His Majesty the Sultan meets with business owners, small and medium enterprises and start-up companies at Al Barakah Palace.
His Majesty opened the meeting by turning to God with praise and thanks for the abundant goodness, numerous favours, growth and stability that He has bestowed upon Oman, asking God Almighty to continue these blessings on the nation and its citizens, and that all good efforts be crowned with success.
His Majesty reviewed the financial and economic performance of the state, and the positive results achieved, in which the effective partnership between the government and the private sector clearly contributed, represented by the growth of the gross domestic product, and the continued improvement of the country’s credit rating, which will contribute to enhancing the confidence of businessmen and investors, and creating an attractive investment environment that contributes to revitalizing various economic sectors.
His Majesty is keen to strengthen the partnership between the government and the private sector, stressing the continuation of meetings with the private sector, listening to the views of businessmen, and discussing proposals and challenges facing the sector with the aim of ensuring the provision of an appropriate environment to enhance
investments and develop the local economy.
His Majesty pointed to the convergence that businessmen have noticed between the public and private sectors, praising the regular meetings held by the Financial and Economic Committee of the Council of Ministers, the Ministry of Commerce, Industry and Investment Promotion, and the Public Authority for Small and Medium Enterprises Development with businessmen and investors, in coordination with the Oman Chamber of Commerce and Industry, to ensure continuous communication between the public and private sectors to discuss the challenges facing businessmen, investors and owners of small and medium enterprises and to develop appropriate solutions for them.
His Majesty stressed the importance of this sector, which is the cornerstone of modern economies and a key player in enhancing economic growth and shaping the business environment, directing that the Omani banking sector keep pace with the developments taking place in global banking and financial policies that support the business environment and stimulate economic activity in the country during the coming period.
His Majesty the Sultan referred to the adoption of the National Policy for Local Content to raise the competitiveness of the national economy and enhance its growth. His Majesty stressed the importance of the private sector contributing to pushing this policy to success by localizing industries and giving priority in its purchases and tenders to local products, which contributes to providing job opportunities for citizens, reduces dependence on imports, enhances the volume of exports, increases the value of the gross domestic product, and works to modernize and develop locally manufactured products, improving their quality to be a preferred choice for consumers and to be able to compete in global markets.
