Page 16 - BUSINESS COMMUNIQUE ver. 2

Empowering Oman: The Rise of a

Diversified Economy

A big transformation is structure. Moreover, numerous
happening in Oman’s entrepreneurs are adopting By Arindam Nagar
entrepreneurial landscape where digitalization by developing
locals are venturing into different numerous e-commerce
businesses rather than relying platforms and digital services
heavily on oil revenues. The which allow access to regional
current economic condition and international markets.
reflects positively due to the
great push offered by Oman The entrepreneurial ecosystem
Vision 2040, and the Tanfeedh of Oman seems to get boosted
program which has introduced through institutions like Riyada,
entrepreneurship as part of the the Public Authority for Small and
nation’s economic strategy. Medium Enterprises
Development which is an active
entrepreneurs
are
Young
Oman provides its citizens with stakeholder. These institutions Young entrepreneurs are
thriving
technology,
in
various encouraging programs can offer resources, advisory thriving in technology,
tourism, and sustainability,
which assist in developing SMEs services as well as finances, tourism, and sustainability,
supported by institutions like
that can bring forth which enables the startups to supported by institutions like
Riyada. These initiatives are
advancements in innovations thrive as well as compete Riyada. These initiatives are
driving
fostering
SMEs,
and create more jobs for Omani globally fostering SMEs, driving
innovation, and creating jobs
citizens. innovation, and creating jobs
With such programmes, Oman is for Omani citizens.
for Omani citizens.
Particularly, young Omani cementing its ground as a By leveraging its heritage
By leveraging its heritage
entrepreneurs are emerging in resilient SME sector which is and modern infrastructure,
and modern infrastructure,
technology, tourism, and quickly growing to become a Oman is building a resilient,
Oman is building a resilient,
sustainability sectors. Such major economic sector. Dubai is diversified economy. This
diversified economy.
This
entrepreneurs are developing not only making its way towards transformation strengthens
transformation strengthens
various businesses in eco- becoming a nexus of innovation its global image as a a
as
image
global
its
tourism, hospitality, and the arts in the Middle East as the progressive and forward-
progressive and forward-
by exploiting Oman’s cultural entrepreneurial landscape in the thinking nation.
thinking nation.
heritage as well as its beautiful south east region continues to
landscapes and modern grow.
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BUSINESS & ENTREPRENEURSHIP CLUB, ISWK