government

Government contracts valued at RO 10,000 reserved for SMEs

April 14, 2021

MUSCAT, APRIL 13 – A circular issued by the Ministry of Finance on Tuesday has mandated that government contracts valued at RO 10,000 or lower must be awarded to small and medium Omani enterprises (SMEs) registered with the Public Authority for SME Development (Riyada).
This is in line with the Economic Stimulus Plan approved by His Majesty Sultan Haitham bin Tarik, which seeks to aid Oman’s economic recovery as well as strengthen national development, it said.
In this context the Ministry recalled the statement of the Council of Ministers at its session 10/2020: “The government is making great efforts to support SMEs to achieve added value to the national economy, contribute to economic diversification, support innovation and use modern technologies, and to feel the importance of concerted efforts among all units of the state’s administrative apparatus to implement this.’’
It urged internal audit units in ministries, government units, public bodies, institutions and government companies to ensure the scrupulous adherence of this directive. Exception may be made on reasonable grounds by the head of the government unit, the circular added.

omanobserver

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