Riyada, the Authority for the Development of Small and Medium Enterprises, has launched an executive plan for the SME sector covering the period 2026–2030, setting out a roadmap to strengthen small businesses as a key engine of economic growth and diversification.
The plan aligns with national priorities under Oman Vision 2040 and the 11th Five-Year Plan, and is designed to create a motivating and sustainable business environment that improves SME competitiveness, increases their contribution to GDP, and expands access to local, regional and global markets.
Riyada said the strategy places a strong emphasis on financing and investment, market access and value chains, and in-country value, alongside support for innovation, entrepreneurship and the transition toward a knowledge-based economy.
The framework was developed using a participatory approach involving public and private sector stakeholders, as well as benchmarking against international best practices.
The executive plan includes targeted programmes addressing different stages of SME growth, such as initiatives to prepare businesses for expansion and exports, integrated financing solutions, and dedicated support for craft and heritage industries.
According to Riyada, implementation of the plan is expected to enhance the long-term sustainability of SMEs, generate quality employment opportunities, and enable entrepreneurs to build scalable businesses.
The authority added that strengthening the SME ecosystem will help raise the competitiveness of the national economy and support Oman’s broader development ambitions over the coming years.
