Speakers stress the importance of creating funding opportunities for SMEs at the “Attraction of Investment and Funding” event, organized by NBC in Muscat

MAGNiTT News 1 year ago - Thu, Jun 20, 2019, 9:41 AM

Speakers stress the importance of creating funding opportunities for SMEs at the “Attraction of Investment and Funding” event, organized by NBC in Muscat
Author: MAGNiTT

The ‘Attraction of Investment and Funding’ took place at the Knowledge Oasis Muscat (KOM) this Tuesday. The event was organized by NBC-The National Business Centre, an initiative of the Public Establishment for Industrial Estates (Madayn).

The event was a part of Reyooq series of discussion sessions. It highlighted different funding mechanisms available within the entrepreneurship system, ways to access them and methods to deal with the challenges. The CEO of Oman Technology Fund, Yousuf Al Harthy spoke at the event and said that the investments made in emerging tech companies opens up new opportunities that contribute to the economy and create employment.

Hamad Al Harthy, the Head of Small, Medium and Micro Financing and Portfolio Management at Oman Development Bank (ODB), was also present. He said,
“It is important to develop a feasibility study for any project, which should also cover the financial aspects. The future cash flows expected from the project has to also be taken into consideration in order to avoid any stumbling incidents.”

He also mentioned that ODB is always keen to help entrepreneurs and small businesses to develop their effectiveness and flourish their operations to make significant contributions to the Sultanate’s development.

The Director of Customer Relations at SME Development Fund (Inma), Ibtihal Al Riyami, said, “It is significant for the project owners to get acquainted with the entrepreneurship eco-system to ensure the success of the project.”

Lastly, Lujaina Al Kharusi, Founder of Nine Wellness Centre said, “There is a positive influence of the entrepreneur’s commitment to the business. The business owner has to gain full knowledge on the financial part of the project in order to avoid any financing challenges.”

According to the Times of Oman, Reyooq initiative is supported by Oman LNG which aims to highlight a wide range of important topics to Omani entrepreneurs.


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