Al Raffd inks pact with Sandan to support light industries park
As many as twenty small and medium enterprises (SMEs) in the ambitious Sandan Light Industries Park, the first of its kind in Oman, which is an integrated city not only for used car showrooms, workshops and offices, but also for housing and building materials, will get benefited from a major pact signed with the Al Raffd Fund, which aims to develop the culture of entrepreneurship and achieve economy diversification last week.
The agreement was signed by Tarek bin Sulaiman al Farsi, Chief Executive Officer of Al Raffd Fund and Saeed bin Nasser al Rashidi, CEO, Sandan Development LLC in the presence of a number of entrepreneurs and stakeholders.
The support extended by the government arm which also aims to integrate the social security and women into the economic cycle, is expected to have a positive impact on the projects while ensuring continuity and creation of employment opportunities and set an ideal environment for small enterprises to grow up and develop themselves.
“This step comes within the efforts of the Fund to support entrepreneurs in the Sultanate of Oman to provide the necessary facilities for the beneficiaries to meet the requirements of the next phase and achieve the meaning of economic diversification”, said Tarek Sulaiman al Farsi, Chief Executive Officer of Al Raffd Fund, adding that Oman’s SME sector plays an important role in developing various sectors and providing jobs
For Omani youth who have proven their efficiency through many small and medium enterprises that have imposed their presence in the market and they start look forward to the world with all optimism and confidence.
“Sandan Industrial Park is a project that carries all the indicators of success and it is the first of its kind in the Sultanate of Oman, so we have decided to support 20 projects that will be distributed among vehicle showroom, workshops and building materials shop for small and medium enterprises.
In addition, we got support from Sandan to do that. We hope that the projects that we will support will be bright and distinctive to emphasise the competence and ambition of Omani youth”, he added.
For this, the concerned entities would be seeking cooperation with government and private entities to provide the necessary facilities for the beneficiaries.
“This major step (signing the agreement with Raffd Fund) embodies the efforts of all agencies to encourage small and medium enterprises in the Sultanate of Oman”, Saeed bin Nasser al Rashidi, CEO of Sandan Development, said.
“This cooperation between Sandan and Al Raffd Fund embodies a common vision and intensification of effort in supporting and encouraging small enterprises in Oman, which are seeing their fruits on the ground with the growth of this sector and the increasing demand of Omani youth to establish their own companies”, Al Rashidi added.