Muscat: Oman is to launch a project to encourage young entrepreneurs, under its Sanad Programme.
Speaking at a function to honour winners of the Sanad Entrepreneurs Award 2010, Shaikh Abdullah Bin Nasser Al Bakri, the minister for manpower explained that the programme will provide loans of between Dh5, 000 and Dh10, 000 Omani riyals for individual projects and Dh20, 000 to 50,000 riyals for group entrepreneurial projects.
The Sanad programme was established by Sultan Qaboos Bin Saeed to increase employment opportunities encourage young entrepreneurs in Oman.
"The Sanad Programme has so far provided financial support to 28,000 Omanis," said Ahmad Bin Abdulnabi Macki, the National Economy Minister and Deputy Chairman of the Financial Affairs and Energy Resources Council, at the function.
Commenting on the Entrepreneurs Award 2010, he said: "It will also attract more Omani youths to establish small- and medium- sized projects".
Lieutenant General Malik Bin Sulaiman Al Maamari, the Inspector General of Police and Customs and Chairman of the Sanad Programme said: "The award instils in them a competitive spirit and develops their projects. Undoubtedly, this award will have great impact on the development of commercial projects."
He drew attention to the Sanad service centres, which help the public to process to process applications and are linked to government departments through the e-government.
The Sanad Entrepreneurs Award, he said, is more than just a financial benefit. It's also very prestigious.
The programme now benefited 28,000 Omani people from different sections of society.
Khalil Bin Abdullah Al Khonji, Chairman of the Oman Chamber of Commerce and Industry and Chairman of Sanad Entrepreneurs Prize Committee, said that he hoped the 8th Five Year Plan (2011-2015) would play a major role in the encouraging education, training and financial programmes.
