Date: December 2, 2013
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 Mr. 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 organizations.
Sharakah incorporated by the 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 provided support to a number of different projects in various sectors.
Highlighting the importance of the partnership, Mr. 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 and entrepreneurship, to support young Omanis by all means. The initiatives include financing, advisory and marketing plans. To achieve efficient support, organizations with such initiatives have to corporate and join their efforts.” he added.
The MoU is a result of the compatibility between the main objective of Zubair SEC and Sharakah in supporting young Omanis with small businesses. This partnership will result in joining the efforts to achieve the 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 will create business opportunities and will also benefit the national economy.
Mr. 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. The partnership with Zubair SEC will complement the efforts of both parties for achieving the goal.
“The Zubair SEC and Sharakah are both members of the International Network of Small and Medium Enterprises (INSME), a global network for supporting the development of SMEs. Our goals and objectives are strategically aligned and this MoU comes as a confirmationof our strategic alignment,” Abdullah added.
Mr. Hani Obeid, Senior Advisor & Acting CEO of Zubair SEC also noted: “The cooperation between Zubair SEC and Sharakah will establish a new channel to reaching small enterprises that may find the services offered beneficial to achieving their entrepreneurial goals. The partnership will also provide financial and moral support; we will back them with business advisory services and support them in establishing the main ingredients for their success; and raise their consciousness so to be familiar in how best to be effective as they grow.”
Zubair SEC has signed a number of agreements with local and international organizations, concerned in supporting entrepreneurs. This MoU is one of the most prominent agreements as it cements the Center’s strategy in providing support to small business owners who are members of the Center. All small business owners and young Omanis with business ideas are welcome to become members of the Zubair SEC.