HEMANT MURKOTH
The government's policies have been consistent towards SMEs.
BIOGRAPHY
Hemant Murkoth comes from an electrical and electronics engineering background with over 25 years of experience in building and leading IT organizations within India and the GCC regions. He started his career in the field of software programming and training and worked his way up holding many techno-managerial positions including divisional manager, general manager, and group general manager of major IT organizations in India and the GCC before taking over as the CEO of Business Gateways in Oman.
Have you seen a change in government's requirements in terms of SMEs?
The government's policies have been consistent towards SMEs; in fact, it has further strengthened its resolve to implement previous SME policies. The government's role is to ensure there are mechanisms in place while addressing the challenges of empowering corporations to implement such policies. This is where our Joint Supplier Registration System (JSRS) fits perfectly. As a key enabler of the ICV initiatives wherein the procurement spend is a critical component, we have been witnessing more governmental organizations approaching us to find out how they can better utilize JSRS, with specific reference to the JSRS Contracts Management System (JSRS-CMS) to implement their SME obligation commitments. But empowering and implementing ICV and SME obligations is only one part. The other part is data analytics to monitor the effectiveness of such implementation. JSRS provides strategic analytics functions supporting the government in staying informed of all awarding across the entire supply chain. Monitoring of contract awards for SMEs means ensuring transparency, removing monopolies, and providing equal opportunities to all entities on a level playing field.
What are the key requirements for this localization strategy to come into effect?
Oman is strong in its ICV implementation. That said, there is still a lot of room to strengthen capabilities and opportunities to embrace. One area that Oman lacks is in R&D and innovation; that is where we need to concentrate and allow young Omanis to take risks and jump into business ventures, while ensuring that they have critical knowledge of cutting-edge technologies. They need to fit into a flexible structure and operate within a short-term safety net, potentially provided as part of the government's strategy. The Oman Technology Fund (OTF) plays a leadership role in boosting start-up projects and is doing an excellent job supporting the industry. I hope to see the government further encouraging start-ups.
HEMANT MURKOTH
TABLE OF CONTENTS
Focus: Future foreign policy
Friends to all, enemy to none
In championing the late Sultan Qaboos' non-interference foreign policy, the new ruler of Oman, Sultan Haitham bin Tariq Al Said, is determined to work for friendship and peace, justice and harmony, and coexistence and positive constructive dialogue.
read articleInterview
David Kalife, CEO, Oman Oil Marketing Company (OOMCO)
Despite Oman's fuel market slowing down, OOMCO increased its sales volume of lubricants by 36% in 2019 and is constructing a greenfield bunker terminal at the Port of Duqm. The company has transformed while growing its expertise in Marketing and Digital.
read articleInterview
Azzan Al Busaidi, CEO, Ithraa
Azzan Al Busaidi is an expert in competitiveness and economic growth. He was appointed CEO of Ithraa in 2019 after 17 years spent covering managerial roles in the organization. Al Busaidi was previously Ithraa's director general of planning and studies and is a strong advocate of the potential of digitization. He holds an MBA from the University of Strathclyde and a BSc in Economics from Sultan Qaboos University.
read articleInterview
Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion & Former Chairman, Oman Chamber of Commerce and Industry
Private Omani companies will be able to benefit greatly from the Fourth Industrial Revolution by enhancing their local value-added strategies and upskilling the workforce.
read articleInterview
Tahir Bin Salim Bin Abdullah Al Amri, Executive President, Central Bank of Oman (CBO)
The Central Bank of Oman's job is to ensure there is adequate liquidity in the system and that banks remain robust and resilient to meet the credit requirements of all segments without undermining financial stability.
read articleB2B
Capital markets
CMA and MSM are supporting Vision 2040 by providing financing to government companies that intend to go public, financing expansion of existing and new IPOs, and widening the investors base in Oman by enhancing and developing the investment funds and insurance industries.
read articleInterview
Khalid Al Balushi, CEO, Khazaen Economic City
International investors and business owners can benefit from Khazaen Economic City's strategic location and its close proximity to the main gateways of the country to import, process, manufacture, distribute locally, and export their goods and services.
read articleFocus: Port 4.0
Destined for greatness
Investments in world-class infrastructure have generated huge rewards for Oman. The goal now is to leverage technology as a disruptive enabler, build human capacity across the public and private logistics sectors, and drive operational efficiencies to build an integrated logistics business environment that is benchmarked against the world's best.
read articleFocus: Gap in tourism services
All bases covered
An amalgamation of local companies and unique experiences in Oman has created an original flavor that is further differentiating Oman's tourism offering from other countries and in the process attracting scores of tourists from all across the world.
read articleB2B
Engineering design
Renardet Engineering Consultants and Design Unit Engineering are recognized experts in their fields. While the former is an international company strongly committed to excellent engineering consultancy services and environmental practices, the latter is an Oman-based team of architects and engineers that incorporates local culture and traditions.
read articleB2B
Construction materials
Oman's construction sector is facing a host of challenges, but Hempel Paints and Al Maha Ceramics are confident that a mix of forward-thinking business models, unique products, and strong government initiatives will help them through turbulent times and generate positive returns in the long run.
read articleInterview
Salim Razvi, CEO, Oman Academic Accreditation Authority (OAAA)
Focusing on higher education institutional accreditation, program accreditation, and the updating and maintaining of the Oman Qualifications Framework, OAAA is helping further advance higher education in the Sultanate.
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