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The Zubair Corporation, represented by The Zubair Small Enterprises Centre (Zubair-SEC) and Sharakah inked a memorandum of understanding (MoU) to complement their efforts of serving local SMEs. The MoU between Zubair-SEC and Sharakah was signed in the presence of Hani al Zubair, Chairman of the Board of Directors of Sharakah. The MoU lays out plans for various facets of cooperation focused on the development of Small and Medium Enterprises (SMEs). Zubair-SEC and Sharakah will work together to provide support to Omani Entrepreneurs who are members and/or applicants of both organisations. Sharakah was incorporated by Royal Decree (76/98) to support the development of Small and Medium Enterprise’s (SME’s) in the Sultanate of Oman. Since its inception Sharakah has provided support to a number of different SME projects in various sectors.
Highlighting the importance of the partnership, Hani M al Zubair, Chairman of the Board of Directors of Sharakah said: “The MoU is another key milestone in cooperating and integrating with initiatives aimed at providing support to young entrepreneurs. This will contribute to the economic development in Oman, and we will provide comprehensive business and financial advisory services.” “We need to work together and integrate with various initiatives concerned with SME’s and entrepreneurs, to support young Omanis by all means. The planned initiatives include financing, advisory and marketing plans. To achieve efficient support, organisations with such initiatives have to cooperate and join their efforts” he added. The Zubair SEC is one of the important initiatives undertaken by the Zubair Group as part of their Corporate Social Responsibility. The center was established in 2013 with a strategic mission of supporting small enterprises in Oman and to contribute in the further development of the national economy.
The center also supports youth innovations and encourages them to work in the private sector by establishing a successful and sustainable business. The MoU is a result of the common objectives shared by the Zubair SEC and Sharakah in supporting young Omanis with small businesses, and will result in an ongoing collaboration to help achieve that goal. Investing the strengths of the two parties, services and available resources will help in achieving maximum support for successful and sustainable small enterprises in Oman, enhancing the concept of entrepreneurship, which in-turn will create business opportunities and benefit the national economy. Abdullah al Jufaili, General Manager of Sharakah praised the main goal of this agreement and noted that Sharakah has undertaken numerous initiatives to support small enterprises in Oman.