Husam bin Mohammed al Zubair, director, The Zubair Corporation, signed on behalf of Zubair SEC, AbdulAziz Mohammed al Balushi, CEO, Ominvest, signed on behalf of Ominvest. The signing agreement was attended by management executives from both sides.

Ominvest is among the longest established investment companies in the region and is one of the first to be listed both in Oman and the region. Zubair SEC, a social responsibility initiative of Z-Corp, has been facilitating business development opportunities for its members since its establishment.

The signing of the agreement marks a collaboration between the two companies to support small and medium enterprises (SMEs) and aspiring entrepreneurs to develop their business ideas in Oman.

Zubair SEC strongly believes that the support of large organisations to SMEs is of great importance in the development and success of the SME sector. As part of this strategy, the centre has signed similar agreements with a number of leading companies in the sultanate. As part of the agreement, large companies have mentored high-potential members of Zubair SEC.

As per this agreement, Zubair SEC will select a member for Ominvest based on a competitive valuation process conducted among member entrepreneurs. One seat in ZSEC's direct support programme will be reserved for Ominvest. ZSEC's direct support programme provides support and mentorship to high-potential novice entrepreneurs and young business owners. One winning member of ZSEC's direct support programme pursuing investment-related projects will be adopted by Ominvest.

Zubair said, 'We are delighted to collaborate with Ominvest as we believe that new entrepreneurs need support with every stage of their development. Zubair SEC has become an important platform that links large companies with Omani SMEs and start-ups. Encouraging and lending a helping to young entrepreneurs is important as they help create a brighter future for all. We thank Ominvest for the support to young entrepreneurs who we believe are the future job creators.'

Indicating that the purpose of the agreement is to promote entrepreneurial spirit in the community, Mohammed al Hasani, chief communications officer, The Zubair Corporation, said, 'We recognise entrepreneurship and start-ups as key for achieving sustainable and inclusive growth. That is why, we constantly create opportunities for new entrepreneurs and this agreement is an opportunity for them to collaborate and gain experience from Ominvest, one of the oldest investment holding companies in Oman.'

It must be recalled that Ominvest has developed a varied portfolio of subsidiaries across sectors including banking, insurance and real estate and a devoted investment platform to make all financial investments, including public and private equity.

Hamid al Harthi, head of support services, Ominvest, said, 'We appreciate the work that Zubair SEC has been doing for young entrepreneurs and also facilitating similar business development opportunities for them. Ominvest is happy to support Omani start-ups by providing them with opportunities that will help them to grow.'

A presentation on the role of Zubair SEC in supporting SMEs and new entrepreneurs was shown after the signing. Zubair SEC has over 330 members entitled to the centre's advisory and capacity building services