(Times of Oman)- - CAIRO — The United Nations Economic and Social Committee for West Asia (ESCWA) has published a new study on sustainable development indices in the region states and committee members, including the Sultanate. The study said the Sultanate has encouraged setting up of small and medium-sized ventures, highlighting the various subsidising schemes for the projects in availing of training courses and small businesses financing.

The study said these projects aim to assist the Sultanate’s government to achieve its goal to diversify income apart from reliance on oil and gas, equip Omani youngsters with suitable tools to promote their trade ideas by providing them with training and advisory. The study spoke about the Ministry of Manpower Sanad programme aimed at promoting small-sized projects and assists the different job seekers. The study said that various authorities concerned had participated in setting up Sanad incubators to foster small-size entrepreneurs, through providing required venues and logistics, training and providing advisory services for the candidates.

The ESCWA study addresses the sectors of energy, water, environment, agriculture, small and medium-sized projects and the technology. The study stressed the importance of small and medium-sized establishments as they contribute drastically in growth of national economy in developed and developing countries.

The report said these establishments are the main source for technological advancement, knowledge transfer and provision of job opportunities. The report highlighted the efforts being exerted by governments to set up legislations that will enable small and medium-sized establishments to get credits, technical support and tax incentives and access to markets. — ONA