Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

MGM to create space for 50 SME outlets  Join our daily free Newsletter

MENAFN - Muscat Daily - 27/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) The Public Authority for SME Development (PASMED) on Monday signed an agreement with the Muscat Grand Mall (MGM) to develop up to 2,500sq m to house 50 outlets for the growing SME sector in the country.

As per the agreement, the new SME retail centre located on the third floor of MGM will be designed to accommodate 19 shops and 31 kiosks which will showcase products from different entrepreneurs.

The space at this centre will be rented out to entrepreneurs who are registered with PASMED and the Al Rafd Fund for one to three years at nominal rates.

Speaking at the signing ceremony, Hassan Jaboub, general manager of MGM, ''We are aware of the important role that the small and medium sector plays in developing economies worldwide. SMEs in Oman will be able to rapidly grow their businesses and build awareness for their brands and products by taking space in the middle of Muscat's favourite retail destination.''

He added that MGM has always hosted and supported small entrepreneurs, giving them a platform to showcase their products “ be it at any stage of the business cycle. ''We are happy to say that over 25 per cent of the brands housed at our mall belong to the SME sector. We believe that this exposure will not only benefit budding entrepreneurs, but will also give them a chance to showcase their abilities to a larger audience in a destination such as MGM which attracts more than 25,000 visitors every day.''

 

Khalifa Said Salim al Abri, acting CEO of PASMED said, ''It is our responsibility to support SMEs to ensure that they contribute to the Omani economy. This new SME retail centre is a step towards realising that vision. The entrepreneurs will spend up to three years in the new centre developing their administrative, accounting and leadership skills under the guidance of industry experts and will emerge independent and more confident to run their own businesses in the future.''

The new centre will also provide support to SMEs through funds, in addition to design, promotional and marketing campaigns of their respective products. ''We will work with MGM to support entrepreneurs in various ways to meet the training, financing and promotional needs which are all vital to the success of a business. Being a leader in their industry, MGM will be able to provide insights into running a prosperous retail business and these inputs will be very valuable to the young entrepreneurs.''

Jaboub added, ''We at MGM are looking forward to working with budding business owners and to help their ideas mature into successful businesses. I am confident of the success of the project and I am sure that this centre will become an incubator where SMEs will learn best pract


 


Muscat Daily




  MENA News Headlines
 Sep 2 2015 - Three key foreign currencies linked to Dubai real estate price declineThe Arabian Post
(MENAFN - The Arabian Post) Today, Phidar Advisory released its Q3 mid-quarter Dubai residential research note. The report shows that residential prices in the third quarter of 2015 continue to ...

 Sep 2 2015 - Gulf management need to take more risks and drive innovation, says global surveyThe Arabian Post
(MENAFN - The Arabian Post) Management in the Gulf need to take more risks and develop staff to think creatively, according to a new global innovation survey designed to help companies stop wasting ...

 Sep 2 2015 - Falling oil prices create headwinds for the UAE's real estate marketsThe Arabian Post
(MENAFN - The Arabian Post) UAE. With a 54% decline in the price of oil prices during the past 12 months the United Arab Emirates (UAE) real estate market is now beginning to feel the effect with ...

 Sep 2 2015 - India- Crop insurance period for non-loanee farmers extended till September 15KNN India
(MENAFN - KNN India) The Government has intended period of for non-loanee farmers form July 31, 2015 to September 15, 2015 under National Agricultural Insurance Scheme."This will benefit farmers of ...

 Sep 2 2015 - Moscow Denies Sending Warplanes to Syria to Fight DaeshQatar News Agency
(MENAFN - Qatar News Agency) A source in the Russian defense ministry denied today reports about Russia sending warplanes to Syria to fight Daesh.The source said in a statement to Russian television ...

 Sep 2 2015 - Israeli Occupation Forces Arrest 4 PalestiniansQatar News Agency
(MENAFN - Qatar News Agency) Israeli occupation forces arrested today two youths from Silat al-Harithiya and Kafr Dan villages, west of Jenin. They also arrested two boys from the town of Beit Ummar ...

 Sep 2 2015 - Qatar- Real Estate Trades Exceeded QR 500 Million Last WeekQatar News Agency
(MENAFN - Qatar News Agency) The total trading value in real estate sales contracts registered with the Land Registry Department of the Ministry of Justice during the period August 23-27 reached QR ...

 Sep 2 2015 - Qatar Development Bank Launches Al-Fikra CompetitionQatar News Agency
(MENAFN - Qatar News Agency) Qatar Development Bank (QDB) announced today the launch of the fourth edition of Al-Fikra competition for start-ups, in collaboration with a host of sponsors and ...

 Sep 2 2015 - Qatar's Fertilizer Output Triples in a Decade Says GPCA ReportQatar News Agency
(MENAFN - Qatar News Agency) Qatar accounts for the second largest share of fertilizer production at 10.7 million tonnes in the GCC, according to the GPCA's Fertilizers Indicators report. Qatari ...

 Sep 2 2015 - Qatar- Economy and Commerce Ministry Recalls 2014-2015 Jeep Cherokee CarsQatar News Agency
(MENAFN - Qatar News Agency) The Ministry of Economy and Commerce, in cooperation with Jeep dealer, recalled 2014-2015 models of Jeep Cherokee due to a defect in the operation of the airbag ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help