Entrepreneurs can draw on new fund

Decision to set up college for traditional crafts among steps to boost new enterprise

Sultan Qaboos Bin Saeed has ordered setting up of a 70- million Omani riyal ( Dh665.15 million) Al Rafd Fund to help Omani youth start small and medium enterprises ( SMEs) across the country. Sultan Qaboos said that self- employment programme Sanad as well as the other schemes to help Omanis set up their enterprises will be combined under the new fund for the SMEs.

“The funds will be increased to seven million riyals each year,” Sultan Qaboos announced.

According to Oman News Agency, during his talks with the dignitaries, Sultan Qaboos also referred to the outcomes of the SMEs Symposium, which was held at Saih Al Shamikhat, and said that, for the first time, it came out with decisions and not recommendations, as has been the case before.

Sultan Qaboos also announced the setting up of ‘ Ajyal College’ in Bahla town, about 190 km northwest of Muscat, with the aim of reviving traditional craft. “Bahla, which has this great history, is also the incubator for the traditional crafts and good heritage,” he said.