Oman achieves 11th place in entrepreneurship index

Oman achieves 11th place in entrepreneurship index

The Sultanate of Oman has achieved 11th place in the Entrepreneurship Index out of 49 countries participating in the Global Entrepreneurship Monitor report for the year 2023-2024, advancing 27 places from its ranking in the year 2022-2023.The Small and Medium Enterprises Development Authority announced that all sub-indicators of the report have improved significantly, especially in vital areas such as financing emerging projects and developing government policies that support innovation and technology, in addition to strengthening the physical infrastructure, which is an essential pillar for the growth of emerging companies and small and medium enterprises, with praise and appreciation for the efforts.Efforts are made to design and launch educational and training programmes, developed to meet the needs of the labour market and enhance entrepreneurship skills among Omani youth. The overall score for the Sultanate of Oman improved from 4.2 in the 2022-2023 report to 5.4 in the 2023-2024 report as a reflection of the efforts made to enhance the business environment and incentive packages.The data showed an improvement in the levels of confidence among investors due to several factors, most notably the legal and regulatory measures that were adopted to facilitate procedures for establishing and operating businesses, in addition to