IMF-促进创业和中小企业以支持阿曼的经济多样化_阿曼（英）-2025.4_14页_1mb

Context

The transition to a knowledge-driven economy under Oman Vision 2040 emphasizes the critical role of Small and Medium Enterprises (SMEs) in supporting long-term growth, job creation, and economic diversification away from hydrocarbons. SMEs currently account for about 98% of firms, employ 76% of private sector workers, and contribute around 33% to non-hydrocarbon GDP. However, Oman faces challenges, including a declining startup rate historically and the need to absorb a growing young workforce, which has reduced reliance on public sector jobs to maintain fiscal sustainability.

Obstacles to SME Development

• Limited Access to Finance: SMEs struggle with high borrowing costs, insufficient collateral, and asymmetric information, leading to a low share (around 5% of bank loans) despite policy targets.
• Legal and Administrative Hurdles: Existing insolvency laws lack rehabilitation options for struggling entrepreneurs, impose high capital thresholds for business registration, and deter risk-taking due to public sector job security. Relatively high salaries in the public sector hinder entrepreneurial incentives among youth.

Recent Policy Actions

• Reforms: Introduced a Bankruptcy Law (2019) and Commercial Companies Law to facilitate insolvency and incorporation, established a credit bureau (Mala'a) and initiatives like "Invest Easy" to improve business registration and access to finance.
• Funding Initiatives: Launch of SME Development Authority (Riyada) and partnerships with Oman Development Bank (ODB) to finance working capital, assets, and innovation. OIA's Future Fund targets SME investments (e.g., OMR 60 million by Sept 2024).
• SEZ Integration: Programs through OP AZ to allocate 10% of SEZ contracts to SMEs, reducing registration fees and enhancing linkages with multinational enterprises (MNEs).

Policy Priorities

To maximize SME growth, recommendations include modernizing insolvency frameworks (e.g., streamlined procedures for SMEs, debt relief options), enhancing access to finance through market-driven credit guarantee schemes or FinTech, and fostering SME integration into value chains via SEZs and digitalization. Linkages with MNEs and skill development are key to supporting long-term economic diversification.