With an objective to help support the growth of Omani entrepreneurs in the logistics sector, ASYAD, the state-owned enterprise and the premier provider of integrated logistics services within the Sultanate of Oman, has signed a Memorandum of Understanding (MoU) with Al Raffd Fund, a government organisation which supports, encourages and promotes entrepreneurial growth and advancement of Omani entrepreneurs.
The signing of the MoU marks a collaboration between the two organisations to support and help small and medium enterprises (SMEs) and aspiring entrepreneurs to develop their businesses in the logistics sector.
The MoU was signed by Abdulrahman bin Salim Al Hatmi, Chief Executive Officer, ASYAD and Tariq Al Farsi, Chief Executive Officer, Al Raffd Fund at the ASYAD headquarters.
Accentuating that the agreement will boost cooperation between the two sides, Abdulrahman bin Salim Al Hatmi said, “Small and medium enterprises play a significant role in the national economy. Their competitiveness and quality of their outputs impact the economic diversification in the Sultanate. SMEs contribute to providing innovative solutions for challenges faced by different sectors and generate more job opportunities”.
ASYAD CEO added, “At ASYAD we regard job creation as a national duty and not a corporate social responsibility initiative. Thus, through this partnership we aim to empower and educate our youth to turn them from job-seekers to job-creators in their own right – helping them build companies, employ teams and create solutions for a more diversified and competitive economy. Through the Sultanate of Oman Logistic Strategy, we are looking forward to generating 300,000 job opportunities in the logistics sector by 2040.”
Tariq Al Farsi Chief Executive Officer of Al Raffd Fund said, “This memorandum is part of the Fund's role in supporting the logistics sector by encouraging beneficiaries at Al-Raffd Fund to benefit from the economic opportunities in this promising sector. We also aim at encouraging the participation of successful SMEs in the logistics sector and providing necessary financial support to establish and develop projects in this field. Al Raffd also facilitate funding procedures for the projects that are incubated at Ibhar- the logistic incubator established by Asyad- under the conditions and controls of the Fund”.
Oman Global Logistics Group (ASYAD), the state-owned enterprise and the premier provider of integrated logistics services within the Sultanate of Oman, is mandated to implement Sultanate of Oman Logistics Strategy 2040.