Sharakah and Jordan Enterprise Development Corporation unite to Enhance SME Development

Muscat: Oman’s premier SME development firm, Sharakah, has recently formed a partnership with the Jordan Enterprise Development Corporation, cementing their collaboration with a Memorandum of Understanding (MOU). The agreement was signed by Ali Muqaibal, CEO of Sharakah, and Abdulfattah Al-Kayed, CEO of Jordan Enterprise Development Corporation.

The Jordan Enterprise Development Corporation is a government institution tasked with the development of emerging, small, and medium-sized economic projects in the Kingdom of Jordan. Sharakah embodies Oman’s entrepreneurial spirit and is dedicated to nurturing the country’s SME ecosystem.

The Memorandum of Understanding (MOU) between Sharakah and the Jordan Enterprise Development Corporation encompasses cooperation in multiple areas. These include sharing expertise on laws and regulations affecting SMEs, participating in global exhibitions that highlight entrepreneurship and SME growth, leveraging technological insights, and conducting training programmes and workshops in entrepreneurship and business management to promote knowledge exchange. The partnership focuses also on joint strategy development and setting performance indicators, covering ten comprehensive areas of collaboration.

This partnership reflects a mutual dedication by Sharakah and the Jordan Enterprise Development Corporation to advancing sustainable development goals, promoting economic integration and participation, and supporting the expansion of small and medium-sized enterprises (SMEs).

Ali Muqaibal, CEO of Sharakah said, “The goal is to meet the shared interests of both Sharakah and the Jordanian Corporation, fostering the development of collaborative efforts, enhancing investment opportunities between Oman and Jordan, and benefiting the wider economic landscape.”

Abdulfattah Al-Kayed, CEO of Jordan Enterprise Development Corporation said, “The collaboration aims to elevate the quality and efficiency of services offered to stakeholders through the exchange of data, adoption of best practices, and the initiation of joint ventures and projects.”

In addition to the MOU, the Jordanian Corporation has extended an invitation to Sharakah to join the recently established Arab Network for Entrepreneurship. This initiative serves as the foundation for an Arab platform dedicated to environmental integration and the exchange of expertise. It is designed to encourage the creation of small, innovative, and entrepreneurial businesses, providing a comprehensive ecosystem that grants entrepreneurs access to guidance, training, financing and networking opportunities. This environment fosters collaboration between business leaders, institutions, and the youth, aiming to build a future anchored in self-reliance and innovation.

Sharakah’s invitation comes in recognition of its pivotal role in empowering Arab entrepreneurs and its significant expertise in the field.

As it commemorates this 25-year journey, Sharakah stands as a testament to the power of dedicated support and development for SMEs in Oman, with a clear path forward towards fostering a robust entrepreneurial ecosystem and contributing to the nation’s economic expansion and diversification.

About Sharakah

Sharakah, among Oman’s first SME development initiatives has been fostering the entrepreneurial spirit since 1998 when it was incorporated by a Royal Decree No. (76/98). Since its inception, Sharakah has provided support to a substantial number of projects in different sectors through awareness, training programs, financial support, consultation services and more. Playing a strategic role in the SMEs ecosystem in the Sultanate and making a positive impact is Sharakah’s vision, and its strategies revolve around the objectives of benefitting the Omani SME sector.

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