Oman took the 11th spot surpassing 27 countries. Image Credit: Shutterstock

Dubai: Oman ranked 11th in the Global Entrepreneurship Index in the Global Entrepreneurship Monitor (GEM) Report 2023/2024, surpassing 27 countries from its rank the previous year.

Oman’s score has improved, according to GEM – considered the top-most reference for information regarding entrepreneurship – reflecting the country’s commitment to enhance the quality of its entrepreneurial landscape.

Report highlights

The Authority of Small and Medium Enterprises Development (ASMED) revealed the improvements in all secondary indicators such as finding start-ups, developing government policies that support innovation and technology, and improving the material infrastructure.

Government policies, private sector growth, and targeted investments have empowered entrepreneurs, the authority added, driving innovation and transforming the cultural landscape.

The Omani government reported that it has exerted efforts to support entrepreneurship especially by investing in sectors of research, development and modern technologies which expand areas of innovation and attract foreign direct investment (FDI)