Forum charts bold future for Oman’s young entrepreneurs

Oman Monday 23/June/2025 20:00 PM
By: Khalid Orabi
Forum charts bold future for Oman’s young entrepreneurs

Muscat: In a powerful demonstration of national commitment to youth empowerment and sustainable development, Muscat witnessed the successful launch of the inaugural edition of the “Sout Al Shabiba – Tamkeen wa Ta’theer on Monday.

Organised by Al Shabiba, a publication of Muscat Media Group, in collaboration with Gulf Leaders Circle, the forum brought together government leaders, business executives, academics, and civil society voices under one roof at the JW Marriott Hotel, Oman Convention & Exhibition Centre.

Held under the esteemed patronage of His Highness Sayyid Faris bin Fatik Al Said, and attended by Mohamed Issa Al Zadjali, Chairman of Muscat Media Group, the one-day forum served as a dynamic platform to promote inclusive dialogue, advance the goals of Oman Vision 2040, and reaffirm the nation’s dedication to empowering its youth and fostering the growth of small and medium enterprises (SMEs).

“I am honoured to attend this important forum,” said His Highness Sayyid Faris bin Fatik Al Said in his opening remarks. “It is both timely and necessary for media groups like Muscat Media Group to play a leading role in driving national priorities forward, particularly through such economic forums and initiatives that support the country's development goals.”

HH Sayyid Faris stressed that the forum aligns with the central pillars of Oman Vision 2040, which include economic diversification, governorate development, self-employment, and maximising the role of youth in nation-building.

The forum opened with a compelling presentation by Dr. Ghalib bin Saif Al Hosni, Chief People Officer at Omantel and Chairman of the Oman Society for Human Resource Management (OSHRM). Dr. Al Hosni addressed the evolving needs of human capital and the essential leadership skills required in today’s fast-changing landscape. He shared insights into Omantel’s internal leadership programmes, highlighting that more than 60 percent of the programme’s graduates now occupy managerial positions within the company.

Engineer Amer Al Fadhel, Managing Partner at Competence HR, followed with a futuristic view on the world of work. He discussed how artificial intelligence, robotics, and automation are redefining the employment landscape, emphasising the need for critical skills such as digital literacy, analytical thinking, emotional intelligence, and problem-solving. “Today, 33 percent of new employees lack basic soft skills,” he noted, stressing the need for flexibility and adaptability among the new generation entering the workforce.

One of the highlights of the day was a vibrant panel discussion titled “Cultivating Entrepreneurship and Innovation for Omani Youth,” moderated by Omani media professional Abdullah Nasser Al Saidi. The panel featured a distinguished lineup of speakers, including Eng. Abdulrahman Al Yahyaei, CEO of Integrated Gas Company; Eng. Said Al Shanfari, CEO of Oman Convention & Exhibition Center; Ali Ahmed Muqaibal, CEO of Sharakah; Dr. Suleiman Al Hasani, Deputy Dean for Academic and Resources at the Global College of Engineering and Technology; and Khalid Al Mahrouqi, Co-founder and CEO of QPay, a rising Buy Now, Pay Later (BNPL) platform launched earlier in 2025.

Engineer Al Yahyaei made a strong case for entrepreneurship as the engine of job creation. “If you want to build an economy, start with the entrepreneur. Entrepreneurship is responsible for the majority of jobs in many countries. In Mexico, for example, SMEs account for 95 percent of employment, and in Dubai alone, over 600,000 jobs are provided by small and medium enterprises.”

Echoing the sentiment, Engineer Al Shanfari highlighted the commitment of Oman Convention & Exhibition Centre to SMEs. “We work hand in hand with entrepreneurs, giving them real opportunities. Even the carpets in this venue are supplied by a local SME,” he said, pointing out the broader support such businesses receive from institutions like the Oman Investment Authority (OIA) and its affiliated companies.

Muqaibal emphasised the importance of originality and innovation in the SME sector, noting that while there are many ideas, the market still suffers from repetition and a lack of differentiation. “Oman is doing well compared to many Gulf countries in supporting SMEs, but we must ensure liquidity and promote diversity,” he said.

Dr. Al Hasani underscored the role of higher education in fostering entrepreneurial thinking. “Entrepreneurship may not be a standalone subject, but it is embedded across all higher education programmes in Oman, as directed by the Ministry of Higher Education. Still, fear of failure remains a major barrier for many young people,” he added.

For Al Mahrouqi, financial technology is a gateway to empowerment. “Fintech is not new. Even traditional banks are embracing it now,” he said. “At QPay, you can open an account or apply for a loan in under three minutes. We’re here to remove the barriers that have traditionally slowed innovation.”

The forum also included a detailed presentation by Qasim bin Mohammed Al Zadjali, Assistant Officer Customer Relationship Management at the Oman Development Bank, who outlined the institution’s expanded mandate following Royal Decree No. 84/2023. With the bank now able to provide financing of up to OMR5 million, Al Zadjali emphasised its commitment to supporting small, medium, and even micro-enterprises.

“We offer interest-free loans up to OMR15,000 for self-employed micro-projects — provided the applicant is fully committed to the venture,” he explained.

The second panel of the forum focused on “Policy, Collaboration, and Sustainability for Youth Empowerment,” and was moderated by journalist Khalfan bin Said Al Amri. The session brought together key voices including Hassan Haider Mohammed Jawad Al-Lawati, Chairman of the Oman Association for Persons with Disabilities; Ghassan Fadhal, Director, Tashgheel; lawyer Omran Aljabri, CEO Deputy, Ahmed Al-Muqbali Advocate and Legal Consultants; and Rumaitha Al Busaidi, Vice President, Environment Society of Oman (ESO).

Al-Lawati shared a personal and heartfelt perspective on the challenges faced by people with disabilities, particularly stigma and societal bias. “Our capabilities are no less. What we need is acceptance and opportunity,” he said.

Fadhel called for a more integrated framework to support freelance work and entrepreneurship. He also praised the 1.2% initiative, which allocates a portion of government procurement spending toward on-the-job training and employment-linked learning programmes.

Aljabri addressed the legal challenges that often intimidate young entrepreneurs. “It’s not funding that stops many youth — it’s the fear of legal complications and of failure itself. We need to help them overcome this psychological hurdle,” he said. 

Rumaitha brought the conversation full circle by emphasising environmental sustainability as a key part of youth development. “Young Omanis are scientifically and practically ready. What they need is ownership — give them space, let them lead. We’ve seen great success through our projects, competitions, and environmental initiatives.”

Sout Al Shabiba, in its first edition, has already positioned itself as a landmark platform for national dialogue, bringing together decision-makers, youth leaders, and innovators to explore actionable solutions for building a more inclusive and entrepreneurial Oman.

In line with the objectives of Vision 2040, the forum champions youth as vital stakeholders in shaping the nation’s future — and provides them with the tools, networks, and confidence to lead it.

The event was supported by Development Bank, Changan, Turkish Airlines, Global College of Engineering and Technology, and Ahmed Al-Muqbali Advocate and Legal Consultants.