Oman Rises to 11th in Global Entrepreneurship Index
Government Policies, Private Sector Growth, and Targeted Investments Drive Progress
Oman has achieved a significant milestone, securing the 11th rank in the prestigious Global Entrepreneurship Index as per the latest Global Entrepreneurship Monitor (GEM) Report for 2023/2024. This remarkable ascent surpasses its previous position, outstripping 27 countries in the process.
The GEM Report, revered as the foremost authority on entrepreneurship data, underscores Oman’s dedication to enhancing the quality of its entrepreneurial ecosystem, evident in the country’s improved score.
Key Highlights from the Report:
The Authority of Small and Medium Enterprises Development (ASMED) has unveiled notable enhancements across all secondary indicators. These advancements encompass the facilitation of start-up initiatives, the formulation of government policies fostering innovation and technology, and the enhancement of material infrastructure.
The authority has emphasized the pivotal role of government policies, private sector expansion, and targeted investments in empowering entrepreneurs. These concerted efforts have not only spurred innovation but also catalyzed a transformative shift in Oman’s cultural landscape.
The Omani government has underscored its commitment to nurturing entrepreneurship by strategically investing in sectors such as research, development, and cutting-edge technologies. These investments serve to broaden the horizons of innovation, while also acting as magnets for foreign direct investment (FDI).
Indeed, Oman’s remarkable journey towards fostering a vibrant entrepreneurial ecosystem stands as a testament to the synergy between government initiatives, private sector dynamism, and strategic investment endeavors. Through concerted efforts, the Sultanate is poised to continue its trajectory towards greater innovation, economic diversification, and sustained growth.
