Riyada was established as the Public Authority for Small & Medium Enterprises Development as per Royal Decree No. 36/2013, whereby it enjoys financial and administrative autonomy and is headquartered in the Muscat Governorate with the right to establish branches in other governorates according to a resolution from its board of directors.
The Public Authority for Small & Medium Enterprises Development (Riyada) is the Sultanate of Oman’s arm for the development of small and medium enterprises and the strengthening of their contribution to the local economy through a wide range of business advisory services and training programs.
The Vision:
Small and medium-sized enterprises to become a key pillar in ensuring creation of jobs and accomplish added value.
The Mission:
To develop and cultivate small and medium-sized enterprises.
Riyada Objectives:
- Develop small and medium enterprises, plan, coordinate and promote their deployment, and enable them receive the finances and services required in coordination with the government and private agencies concerned.
- Instill a culture of entrepreneurship and self-employment among emerging and young people.
- Strengthen the role of institutions by providing multiple renewable Omani youth employment opportunities.
- Assist pioneers and entrepreneurs in the initiative with the establishment and implementation of their own projects and leadership in both management and development.
- Enhance the competitiveness of existing institutions.
- Increase the capacity of institutions to bring added value to the national economy, contribute to economic diversification, and support both innovation and the use of modern technologies.