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The Oman Investment Authority has launched the “Furas” digital platform, a strategic initiative aimed at empowering small and medium-sized enterprises (SMEs) and local suppliers by providing direct access to procurement and contracting opportunities across its portfolio companies.
How the “Furas” Platform Supports Local Suppliers
The “Furas” platform serves as a centralized digital gateway connecting local businesses with supply chain opportunities. It enables transparent access to tenders and structured application processes, helping to:
- Improve procurement transparency
- Increase SME participation in contracts
- Enhance supply chain efficiency
Alignment with Oman Vision 2040
The platform was launched under the patronage of Dr. Khamis bin Saif Al Jabri, aligning with the goals of Oman Vision 2040, which focuses on:
- Maximizing national investment value
- Expanding private sector participation
- Driving sustainable economic growth
Key Figures Reflecting Growth in Local Spending
Recent data highlights strong momentum in local supply chains:
- OMR 1.3 billion spent between 2023–2025
- 32% average local value added (LVA)
- Over 20% of total spending directed to SMEs
Strengthening Local Content Through Procurement Programs
The Oman Investment Authority has implemented multiple initiatives to enhance local content:
- Inclusion of 383 products and services under mandatory local content procurement
- OMR 210 million total spending through this channel
- Allocation of 64 work packages worth OMR 118 million
- Qualification of 58 SMEs through supplier development programs
Driving Innovation and Supporting Startups
Beyond procurement, the “Furas” platform also supports innovation and entrepreneurship by:
- Delivering 67 joint projects with companies
- Supporting startups and entrepreneurs
- Strengthening integration between local markets and emerging technologies
Why “Furas” Matters for SMEs in Oman
The “Furas” platform represents a practical step toward building a more inclusive and competitive business environment in Oman. It provides SMEs with:
- Greater access to contracts and tenders
- Opportunities to scale and grow
- Improved visibility within the supply chain ecosystem
