Oman’s MDO inks agreement with Riyada to support SMEs

By Shilpa Annie Joseph, Official Reporter
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Minerals Development Oman (MDO), the Sultanate’s mining investment flagship, has signed a cooperation agreement with the Small and Medium Enterprises Development Authority (Riyada) in order to support the SMEs and boost their business growth.

Under the agreement, both sides will collaborate to provide SMEs with business opportunities within the company, as well as provide technical, financial, training, and promotional support.

Riyada is the government authority responsible for the development of SMEs and the strengthening of their contribution to the local economy.

The agreement was signed by Ms. Halima bint Rashid al Zariyah, Chairperson of Riyada, and Dr. Badar bin Saud al Kharusi, Chairman of Minerals Development Oman, at the authority’s headquarters in the presence of several representatives from both sides.

Ms. Al Zariyah said that, “Our cooperation with MDO aims to expand the business opportunities for SMEs in the mining industry and related services, transfer knowledge and experience and increase their efficiency through practices in the workplace by establishing and operating high-quality production lines, providing services and fulfilling a variety of inputs and operations.”

From his side, Dr. Al Kharusi stated that, “We are delighted to sign this agreement with Riyada, which is a reflection of the company’s continued commitment to society, as the company strives to support local startups and promote their business growth, as part of MDO’s ICV strategy.”

The Chairman further added that “MDO adopts a clear mechanism to support SMEs in their various projects, in addition to obligating its contractors to partner with SMEs. MDO has awarded a number of contracts this year to SMEs (Riyada card holders) with $17 million (RO 6.8 million).”

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