In a step that reinforces national efforts towards economic diversification and entrepreneurship, Sharakah, Oman’s premier SME development firm, and Oman Tourism Development Company (OMRAN) have signed a Memorandum of Understanding (MoU) to support the growth of small and medium enterprises (SMEs) across the Sultanate.
The agreement reflects a shared commitment to nurturing a thriving SME ecosystem by combining Sharakah’s expertise in financing and advisory services with OMRAN’s wide-ranging tourism development initiatives. This collaboration aims to enhance the visibility and impact of both organisations through joint marketing, event collaboration, and the sharing of success stories.
Under the terms of the MoU, Sharakah will offer priority funding and tailored mentorship to SMEs engaged with OMRAN’s programmes. This mentorship will be formalised through a separate agreement, covering strategy, operations, growth, and innovation. The collaboration also includes strategic planning and advisory support in areas such as financial management and market expansion. Sharakah aims to incubate OMRAN-nominated SMEs, raising their benchmarks to be internationally competitive and leaders in sustainable business management.
In addition to its advisory role, Sharakah will promote OMRAN’s SME initiatives via newsletters, social media, and its website, ensuring greater awareness among its network. It will also extend invitations to OMRAN for participation in its own events, including conferences, seminars, and networking forums. There is also a commitment from both parties to co-host events, leveraging their collective strengths to maximise reach and impact.
Commenting on the agreement, Ali Ahmed Muqaibal, CEO of Sharakah, said, “This collaboration with OMRAN is a meaningful step forward in our mission to empower Omani entrepreneurs. By combining our financial and advisory expertise with OMRAN’s sectoral reach, we aim to create real impact for SMEs and contribute to building a resilient, innovation-driven economy.”
As the executive arm for tourism development in the Sultanate, OMRAN will integrate Sharakah as a strategic partner in its SME programmes. It will actively promote Sharakah’s services within its network and highlight the partnership in its own communications. OMRAN will invite Sharakah to participate in its workshops, exhibitions, and conferences. It will also contribute entrepreneurial knowledge through whitepapers, case studies, expert sessions, and peer discussions, further enriching the SME ecosystem.
Hashil Al Mahrouqi, CEO of OMRAN, added, “We are pleased to partner with Sharakah to further our commitment to SME development. This MoU allows us to extend greater support to local businesses, nurture homegrown talent, and ensure that Omani entrepreneurs are actively contributing to the growth and sustainability of the tourism sector and beyond.”
This partnership directly supports Oman Vision 2040 by promoting innovation, employment, and the capacity building of local enterprises.
