SMEs continue to support national economy
Government institutions awarded RO38mn in tenders and procurement to small and medium enterprises registered with the Public Authority for Small and Medium Enterprises Development (Riyada), in 2019, representing 6.74% of the total spending in government tenders and procurement that were executed that year.
Out of the total, the share of the institutions that hold 'Entrepreneur Cards' for fully owned projects by Omani nationals was RO16mn.
According to the analysis of data received from the Ministry of Finance, 1,714 SMEs registered in Riyada benefited from government tenders and procurement, of which 705 were Riyada Entrepreneur Card holders.
The data also showed that Riyada awarded the highest amount in tenders and procurement to SMEs among government agencies. Riyada's percentage amounted to 47.22% of the total work that was awarded in 2019, followed by the Supreme Committee for National Day Celebrations with 33.02 per cent, the Ministry of Regional Municipalities and Water Resources with 25.71 per cent, the National Records and Archives Authority with 25.55 per cent, Al Raffd Fund with 22.36 per cent, and the Omani Academic Accreditation Authority with 20.33 per cent, among other agencies.
Halima bint Rashid al Zaria, acting CEO of Riyada, said, “The data of 20 government institutions from government procurement and tenders awarded to SMEs in 2019 clearly indicate the keenness of a large number of those authorities to increase their support for small and medium enterprises and they deserve our thanks and appreciation for giving priority out of their belief in the role of the Omani youth and their ability to carry out business and support the national economy.”
Halima added that SMEs got 4.24 per cent more in projects and tenders in 2019 than in 2018, stressing that the awarding percentage to SMEs does not include subcontracting from large companies that implement government projects and thus overall allocation may be higher.