Riyada Announces Launch of SME Sector Executive Plan 2026-2030

Muscat, 28 Dec 2025 (ONA) — “Riyada”,
the Authority for the Development of Small and Medium Enterprises (SMEs), today
announced the launch of the executive plan of the SME sector for the period
2026-2030.

The plan fits within the framework
of national efforts aimed at consolidating the role of the SME sector, deemed one of
the main drivers of domestic growth and economic diversification, in line with
the objectives of Oman Vision 2040 and the 11th Five Year Plan.

The plan aims to establish a motivating
and sustainable business environment that contributes to raising the
competitiveness of SMEs, enhancing their contribution to the gross domestic
product (GDP) and opening up vistas for SMEs to access local, regional and
global markets. It also supports innovation and entrepreneurship and enhances the
transition towards knowledge economy.

The plan stems from a number of key
strategic pillars, most notably market access and value chains, financing and
investment and in-country value (ICV). These pillars, developed using a
participatory methodology with contributions from government and private establishments, were also based on benchmarking and international best practices.

The plan includes a set of
quality programmes and initiatives targeting different stages of growth of SMEs, including programmes to raise SMEs aptitude for expansion and export, integrated
financing programmes and the development of initiatives for supporting craft industries.

Riyada affirmed that the implementation
of the executive plan will contribute to enhancing the sustainability of SMEs, generating
quality employment opportunities and enabling entrepreneurs to build projects
that are capable of growth and expansion—thereby boosting the competitiveness
of the national economy and keeping pace with the aspirations of the next
phase.

— Ends/Bishara