Muscat – The Authority for Small and Medium Enterprises Development (ASMED) has launched a new financing programme for exports, designed to support SMEs looking to export their products to regional and global markets.

The initiative aims to enhance exports and add value to the national economy, thereby promoting economic diversification and increasing international competitiveness of SMEs.

The programme targets all existing SMEs that have received purchase orders or export contracts from outside the sultanate. It is open to those with insurance coverage from Credit Oman, regardless of previous export record, who wish to expand operations or export for the first time.

The new programme aims to provide financial support for production costs related to invoices, contracts or purchase orders issued by foreign companies. The initiative enhances the capacity of SMEs to export their products, thereby increasing the volume of national exports and broadening their geographical reach. It also aims to develop competitiveness of these enterprises on an international stage by offering necessary financial resources to improve product quality.

By boosting exports of local products to regional and global markets, the programme will contribute to strengthening the sultanate’s commercial position internationally. It will enable SMEs enter new markets, increase sales opportunities and expand their customer base.

To apply for the programme, entrepreneurs must complete training programmes approved by ASMED which will prepare them to establish and manage projects. Additionally, they must obtain approval from Credit Oman for insurance coverage of the contract and demonstrate that their financial and credit status qualifies them for financing.

The authority has published a comprehensive guide outlining the procedures for loan disbursement available on its website and social media accounts. This guide includes a detailed list of documents required for various categories, including building and construction, machinery, equipment and furniture, vehicles and forklifts.

The guide aims to simplify and clarify the steps involved in obtaining loans, enhancing the transparency of the process. It will help beneficiaries prepare the necessary documents, raise awareness on disbursement requirements, ensure compliance with standards, and facilitate effective communication with ASMED.’

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