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Oman Business News

NBC event highlights opportunities for SMEs in food sector in Oman

The National Business Centre (NBC) — part of the Public Establishment for Industrial Estates (Madayn), yesterday hosted a forum focusing on investment opportunities for small and medium enterprises (SMEs) in the food sector. The event, held as part of NBC’s Mashura initiative at the Riyada incubator, was organised in cooperation with the Public Authority for Small and Medium Enterprises Development (Riyada), with the support of the wholly-government owned Oman Food Investment Holding Company (OFIC).

Asim al Zadjali, Investment Manager at Oman Food Investment Holding Company, stated that OFIC is a state-owned-enterprise aimed at promoting Oman’s food security. He noted that the vision of OFIC is to become the recognised leader for promoting strategic investments in the food sector locally and internationally to improve food security in the Sultanate. He added that this shall be achieved by investing in food projects individually and in partnership with various strategic investors inside and outside Oman aiming to promote self-sufficiency and food security in Oman.

Al Zadjali elaborated on the objectives of OFIC, which comprise targeting commercially viable projects in Oman and internationally that will create both strategic and financial value, while offering a clear exit strategy; developing partnerships with private and public stakeholders to mobilise various resources and to attract more investment to the food sector; promoting the adoption of responsible, efficient and sustainable practices across the value chain; targeting a mix of agri food projects in urban and rural areas to create employment, economic diversification and growth of SMEs; improving food quality standards by adopting well established international practices; leveraging the competitive location of Oman to position it as a centre of excellence in food production for the region; and becoming a trusted centre of excellence for integrated agri food solutions.

He also elaborated on the companies that fall under OFIC, which include Oman Flour Mills, Al Murooj Dairy Company, Al Namma Poultry Company, Oman Fisheries Company, Al Bashayer Meat Company, Oman Oilseeds Crushing Company, Oman Dates Production and Packaging Company, International Seafood Company, Mazoon Dairy Company, and National Feed.

Al Zadjali pointed out that the available opportunities at OFIC for entrepreneurs and SMEs include opportunities in the establishment and construction phase, transporting and storage, provision of human cadres, safety requirements, raw materials, branding services, marketing tools and information system. Additionally, there are also opportunities in the production phase such as logistics, warehousing, finding distributors to transport products the various governorates in Oman and to public and private bodies and hotels, among other opportunities.

Mashura event, which consists of a series of workshops that raise awareness on various topics related to entrepreneurship, is being sponsored by Oman Oil Refineries and Petroleum Industries Company (Orpic) and Oman Oil Company.
  • National Business Centre
  • Oman
  • Madayn
  • SME
  • Riyada
  • OFIC
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