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Sharakah and Najd Elite sign MoU to drive SME growth between Oman and Saudi Arabia
(MENAFN- Prime Advertising LLC) Sharakah, Oman’s leading SME development company, has signed a Memorandum of Understanding (MoU) with Najd Elite Consulting of Saudi Arabia to strengthen support for small and medium-sized enterprises (SMEs) and foster cross border opportunities between the two countries.
The MoU was signed by Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah, and Abdullah Al Qahtani, Chief Executive Officer of Najd Elite Consulting,
The agreement outlines a strategic collaboration for market entry support, advisory services, and joint programmes aimed at enabling Omani SMEs to expand into Saudi Arabia. It also paves the way for impact investment initiatives, capacity-building efforts, and the promotion of SME success stories to regional stakeholders.
As part of this cooperation, Najd Elite and Sharakah will work closely across several areas of collaboration designed to strengthen SME growth and cross border expansion. A key focus will be a market entry pilot project, where an Omani SME project from Sharakah’s portfolio will be introduced into the Saudi market, with Najd Elite providing market research, regulatory guidance, localisation support and partnerships.
The two organisations will also collaborate on SME development programmes, with Najd Elite participating in Sharakah’s training sessions to deliver advisory workshops and sector-specific insights aimed at preparing businesses for expansion into Saudi Arabia. In addition, they plan to codesign joint initiatives in partnership with government entities, investors and development stakeholders, covering areas such as acceleration, investment readiness and market entry bootcamps.
On the advisory front, Najd Elite will contribute commercial expertise in market strategy and partner identification, while Sharakah will provide Sharia-compliant financing guidance and ecosystem connections to SMEs seeking growth in Saudi Arabia. The agreement also includes mutual referrals, where both parties will have the opportunity to refer SMEs and business opportunities to one another.
Speaking on the signing, Ali Ahmed Muqaibal, CEO of Sharakah, said, “Sharakah’s mission has always been to support the growth of Omani SMEs. Partnering with Najd Elite allows us to provide our entrepreneurs with the tools, insights and connections required to successfully expand into the Saudi market. We look forward to seeing tangible outcomes from this collaboration.”
Abdullah Al Qahtani, CEO of Najd Elite Consulting, added, “This partnership reflects our commitment to empowering SMEs and creating a clear pathway for Omani businesses to access opportunities in Saudi Arabia. By combining our expertise with Sharakah’s strong SME network, we are confident in building success stories that benefit both economies.”
The MoU was signed by Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah, and Abdullah Al Qahtani, Chief Executive Officer of Najd Elite Consulting,
The agreement outlines a strategic collaboration for market entry support, advisory services, and joint programmes aimed at enabling Omani SMEs to expand into Saudi Arabia. It also paves the way for impact investment initiatives, capacity-building efforts, and the promotion of SME success stories to regional stakeholders.
As part of this cooperation, Najd Elite and Sharakah will work closely across several areas of collaboration designed to strengthen SME growth and cross border expansion. A key focus will be a market entry pilot project, where an Omani SME project from Sharakah’s portfolio will be introduced into the Saudi market, with Najd Elite providing market research, regulatory guidance, localisation support and partnerships.
The two organisations will also collaborate on SME development programmes, with Najd Elite participating in Sharakah’s training sessions to deliver advisory workshops and sector-specific insights aimed at preparing businesses for expansion into Saudi Arabia. In addition, they plan to codesign joint initiatives in partnership with government entities, investors and development stakeholders, covering areas such as acceleration, investment readiness and market entry bootcamps.
On the advisory front, Najd Elite will contribute commercial expertise in market strategy and partner identification, while Sharakah will provide Sharia-compliant financing guidance and ecosystem connections to SMEs seeking growth in Saudi Arabia. The agreement also includes mutual referrals, where both parties will have the opportunity to refer SMEs and business opportunities to one another.
Speaking on the signing, Ali Ahmed Muqaibal, CEO of Sharakah, said, “Sharakah’s mission has always been to support the growth of Omani SMEs. Partnering with Najd Elite allows us to provide our entrepreneurs with the tools, insights and connections required to successfully expand into the Saudi market. We look forward to seeing tangible outcomes from this collaboration.”
Abdullah Al Qahtani, CEO of Najd Elite Consulting, added, “This partnership reflects our commitment to empowering SMEs and creating a clear pathway for Omani businesses to access opportunities in Saudi Arabia. By combining our expertise with Sharakah’s strong SME network, we are confident in building success stories that benefit both economies.”
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