Investors Relations

• Asyad Group signs four partnerships with local SMEs in technology and maintenance 

• Asyad’s Vendor Development Program designed to unlock opportunities for SMEs  

• Over OMR 38 million in domestic contracts and purchase orders including 2,000 contracts to local SMEs 

• theprogram allows the private sector to play a vital role in developing Oman’s logistics sector 

• Asyad Group continues to deliver its strategy to increase ICV, build national capacities, and enable the private sector 

Asyad Group, Oman’s global integrated logistics provider, inked sponsorship agreements with four small and medium enterprises (SMEs) under its Vendor Development Program, as part of the group's roadmap to empower SMEs and promote their role in Oman’s economy. 

Aiming to unlock growth opportunities for its SME partners, Asyad’s Vendor Development Program provides existing and new vendors with support systems and capacity-building pathways to enable their role in the logistics sector and maximize ICV in various industries and innovation sectors. The program offers a set of support services to promote an SME-focused culture in logistics, and encourage entrepreneurs and start-ups to develop their innovations. 

The agreements signed between Asyad Group and four SMEs enable the companies to develop their products and services according to the logistics provider’s needs. Under the first agreement, Onsor Technologies will design a new, tailored monitoring system to be installed on Asyad Shipping vessels which will integrate the existing digital operating systems into a single platform, enhancing data collection and enabling real-time analysis. 

Through the second agreement, Serag Electrode will supply Asyad Drydock with domestically produced welding electrodes to be used in the Drydock’s technical operations. The third agreement, signed with Capital Development, stipulates providing maintenance and repair services for mobile equipment deployed at Asyad Ports. The fourth agreement with Golden Depth Marine Services, includes supplying Asyad Drydock with buoy inspection and maintenance to ensure the readiness and optimal operational conditions of the shipyard’s buoy systems. 

Highlighting the value of these collaborations, Sameh Batook, VP Contracts and Procurement at Asyad Group, stated: “Through these agreements, Asyad underlines its commitment to develop a strong, local supply chain that fulfills its needs and incorporates SMEs and private companies into the integrated logistics ecosystem. This will ultimately allow the Group to localize its procurements, increase its ICV contribution, and develop the Sultanate of Oman’s capacities and human capital to promote sustainability and innovative solutions across the domestic logistics supply chain.” 

Gaith Al Darmaki, Asyad Group’s Chief Executive Technology, said: “Our technology function’s main mission is to utilize innovation and new technologies across logistics operations. To that end, we believe in partnering with SMEs through various initiatives, including the new Vendor Development Program that empowers local vendors and provides them with access to our expertise and advanced tech capabilities.” 

As the main driver of logistics in Oman, Asyad Group is dedicated to identifying and entering targeted partnerships with SMEs and private companies to empower local players and make a positive and far-reaching impact on the national economy. In the first half of 2023, the Group awarded local companies with over 5,000 contracts and purchase orders (OMR 38 million), of which 2,000 contracts (OMR 10+ million) were awarded to more than 600 SMEs holding Riyada cards. 

With multiple ICV initiatives and local collaborations, Asyad Group continues its local empowerment strategy as it forges more partnerships with SMEs and private entities across logistics, aiming to maximize ICV and the role of the local private sector in cementing Oman’s position as a global hub for logistics and investment.