The Sultanate of Oman has significantly enhanced its global investment profile by joining the World Association of Investment Promotion Agencies (WAIPA). This strategic move underscores Oman's commitment to attracting foreign direct investment and fostering economic growth.

During a meeting in Geneva, Oman's Permanent Representative to the United Nations and International Organizations, Idris Abdul Rahman Al Khanjari, and WAIPA's CEO and Executive Director, Ismail Ersahin, discussed potential avenues for collaboration.

The focus was on promoting Oman as an attractive investment destination, leveraging WAIPA's extensive network and resources, and exploring the possibility of Oman hosting the prestigious 2025 World Investment Conference.

Al Khanjari emphasized the strategic importance of Oman's membership in WAIPA, highlighting the country's recent efforts to modernize its foreign investment framework.

He emphasized that joining the Association and other economic organizations in Geneva would facilitate increased market access for Omani businesses and attract international investors to the Sultanate.

Oman's unique investment proposition is bolstered by its strategic location, world-class infrastructure, and favorable investment climate. The country's proximity to major global markets, coupled with its modern ports, free economic zones, and industrial parks, creates a compelling environment for foreign investors.

WAIPA's Executive Director expressed the Association's dedication to supporting its members in attracting high-quality investments and fostering effective communication among different investment promotion agencies.

Through knowledge sharing, best practices exchange, and capacity building initiatives, WAIPA aims to empower its members to compete effectively in the global investment landscape.

Oman's accession to WAIPA marks a significant milestone in its economic development journey.

By leveraging the Association's expertise and network, Oman can further enhance its investment attractiveness, attract sustainable foreign capital, and position itself as a leading investment destination in the region.

In today's dynamic business environment, sustaining growth requires a strategic and proactive approach. By implementing the following strategies, you can create a sustainable growth plan that positions your business for continued success:

1. Diversify Your Revenue Streams

Relying solely on a single product or service can make your business vulnerable to market fluctuations. Diversify your revenue streams by:

Launching new product lines: Consider expanding your product offerings to cater to different customer segments or address emerging market needs. For example, a clothing retailer could diversify by introducing a home goods line or a subscription-based styling service.

Offering subscription services: Recurring revenue streams can provide a stable foundation for your business. Consider offering subscription-based models for products or services, such as software, content, or physical goods.

Forming strategic partnerships: Collaborating with complementary businesses can open up new markets and generate additional revenue. For example, a fitness app could partner with a nutrition company to offer bundled services to customers.

2. Monitor Industry Trends

Staying informed about industry trends and changes in market dynamics is crucial for identifying new opportunities and scaling your business operations. By leveraging data-driven insights, you can make informed decisions and develop a growth plan with high chances of success.

3. Validate with a Beta Test

Start small and validate your proof-of-concept on a beta level. Once you have demonstrated strong results on a smaller scale, you can confidently invest in marketing and scale your business for larger revenue.

4. Outline Long-Term Goals

Define your long-term goals and vision for the business. Conduct a thorough market analysis to identify opportunities and challenges. Develop a detailed strategy that includes diversifying revenue streams, optimizing operational efficiency, and focusing on customer retention.

5. Cultivate a Growth Ecosystem

Sustainable growth is not about following a playbook; it's about creating your own unique approach. Identify your "growth multipliers" and build "scalable scaffolding" to support exponential growth. Embed adaptability into your DNA and nurture internal ecosystems to foster innovation and a company-wide growth mindset.

6. Understand Your Core Audience and Innovate

Focus on developing products or services that solve real problems and offer unique value. Invest in innovation to stay competitive, and build strong relationships with suppliers, partners, and retailers. Optimize your sales channels and use data-driven marketing strategies to attract and retain customers.

7. Prioritize Customer Experience

In today's customer-centric market, delivering exceptional customer experiences is essential for driving growth and loyalty. Invest in customer research, feedback mechanisms, and personalized experiences to build strong relationships with your customers.

8. Build a Strong Team

A talented and motivated team is crucial for achieving sustainable growth. Invest in employee development, create a positive work culture, and empower your team members to contribute to the business's success.

9. Adapt to Change

The business landscape is constantly evolving. Be prepared to adapt to changing market conditions, industry trends, and customer preferences. Stay flexible, embrace innovation, and be willing to pivot your strategy as needed.

10. Measure and Analyze

Track key performance indicators (KPIs) to measure your business's progress and identify areas for improvement. Use data analytics to gain insights into your customers, market trends, and the effectiveness of your growth strategies.

By following these strategies and continuously adapting to the evolving business landscape, you can create a sustainable growth plan that sets your business up for long-term success

The Middle East and North Africa (MENA) region witnessed a significant uptick in startup funding during September 2024. A total of $282 million was raised by 63 startups, marking a substantial 234% increase month-over-month and a 607% rise year-over-year. Debt financing accounted for just 12% of the total investment, indicating a preference for equity-based funding.

Saudi Arabia Dominates the Landscape

Saudi startups once again emerged as the top-funded ecosystem in the MENA region, securing more than 60% of the total investment. They raised $170.8 million across 23 deals, surpassing the UAE, which raised $73.8 million through 12 startups. Egyptian startups, however, lagged behind, raising only $25 million.

Fintech Remains the Top-Funded Sector

For the fourth consecutive month, fintech maintained its position as the most sought-after sector by investors. Startups in this space raised an impressive $102.5 million across 14 deals. The mobility sector followed closely, driven primarily by SHIFT's substantial funding round.

Early-Stage Startups Continue to Attract Investor Interest

Investors demonstrated a strong preference for early-stage startups, with $102 million invested in 15 seed deals and $5 million in seven pre-seed startups. While later-stage startups secured fewer deals, notable transactions included Paymob's $22 million Series B and Syarah's $60 million Series C.

B2C Startups Lead in Investment Value

The business-to-consumer (B2C) model emerged as the top-funded business model, attracting $93.7 million across 24 startups. Although business-to-business (B2B) startups received $84.6 million, startups operating in both domains collectively secured the majority of investment value, raising $100 million across five deals.

Gender Gap in Funding Persists

While female-founded startups continued to be underrepresented, they did secure $583,000 in funding, primarily through grants. Male-founded startups dominated the landscape, raising $260 million. However, there were signs of progress, with seven startups co-founded by men and women raising a total of $21 million.

MENA Startup Ecosystem Shows Resilience Amidst Challenges

The Middle East and North Africa (MENA) region's startup ecosystem demonstrated remarkable resilience in the third quarter of 2024, defying the challenges posed by escalating regional tensions and economic uncertainties.

Despite these hurdles, the ecosystem witnessed a surge in investment activity, with a total of $727 million secured by 136 startups.

This represents a substantial increase of 192% compared to the same period last year and a 60% rise from the previous quarter.

UAE Maintains Top Spot

While Saudi Arabia has consistently shown strong growth, the UAE-based startups continue to lead the MENA region in terms of investment amount. They raised $233 million in Q3 2024, a 23% decline quarter-over-quarter but a 65% increase year-over-year. Saudi startups followed closely, securing $219 million.

Egypt's Ecosystem Flourishes

Egypt's startup ecosystem experienced an impressive surge, attracting $215 million in Q3 2024. This marked a 345% increase quarter-over-quarter and a staggering 1076% increase year-over-year, defying the deteriorating economic conditions and geopolitical turmoil.

Oman and Jordan Emerge

Oman and Jordan also demonstrated growth, with Oman securing $40 million across three startups and Jordan securing $2.5 million through 11 deals.

Fintech Retains Top Position

Fintech reclaimed its position as the top-funded sector, raising $355 million through 38 transactions. Web3 followed with $99 million, while e-commerce startups raised $86 million.

Early-Stage Startups Remain Favored

Investors continued to favor early-stage startups, with seed deals accounting for $218 million and Series A deals totaling $160 million. Later-stage startups were less active, with only a few transactions noted.

B2B Dominates Investment

The business-to-business (B2B) model emerged as the most funded, attracting $477.6 million. While business-to-consumer (B2C) startups received $124 million, those operating in both domains secured $100 million.

Gender Gap Persists

Male-founded startups dominated the landscape, raising $683 million, while female-founded startups raised $953,000. However, there were signs of progress with seven startups co-founded by men and women raising $21 million.

Outlook for Q4

The MENA startup ecosystem is poised for continued growth, driven by several factors. Local venture capitalists are increasingly recognizing the region's potential, while rising oil prices provide favorable conditions for investment. The positive momentum is expected to continue into Q4 2024.

Key Trends and Future Prospects

Increasing Digitization: The region's rapid adoption of digital technologies is creating new opportunities for startups across various sectors.

Government Support: Governments are actively fostering startup growth through initiatives like technology parks, incubators, and funding programs.

Talent Pool Expansion: The MENA region is witnessing a growing pool of talented entrepreneurs, driving innovation and growth.

Global Competition: MENA startups must differentiate themselves and offer unique value propositions to compete effectively in the global market.

Regulatory Challenges: Simplifying regulatory procedures and providing clear guidelines can facilitate startup growth.

Cultural Barriers: Understanding and adapting to cultural nuances is essential for successful cross-border collaborations.

Addressing these challenges and capitalizing on these trends will be crucial for the continued success of the MENA startup ecosystem. By fostering innovation, building partnerships, and scaling internationally, the region can position itself as a global leader in entrepreneurship.

Saudi Arabia has taken a significant step towards enhancing its investment climate with the introduction of a new investment law. The law, which replaces the existing Foreign Investment Law, aims to create a more attractive environment for both domestic and foreign investors, driving economic development and job creation.

The new investment law, issued pursuant to Royal Decree No. (M/19), will come into effect on or around February 7, 2025. It introduces several key changes, including:

Equal Treatment: The law applies to both Saudi and foreign investors, ensuring a level playing field for all.

Simplified Registration: The cumbersome licensing process has been replaced with a streamlined registration procedure, making it easier for investors to set up businesses.

Investment Incentives: The government will offer various incentives and facilities to attract both local and foreign investments.

Dispute Resolution: Investors will have access to alternative dispute resolution mechanisms, such as arbitration and mediation.

Freedom of Investment: Foreign investors will enjoy a high level of freedom to invest in various economic activities, with limited exceptions.

The new law is expected to have a positive impact on Saudi Arabia's economy by attracting more foreign investment, creating jobs, and fostering innovation. It aligns with the Kingdom's Vision 2030, which aims to diversify the economy and reduce reliance on oil.

Key benefits of the new investment law include:

Increased Foreign Investment: The simplified registration process and favorable investment incentives will make Saudi Arabia more attractive to foreign investors.

Job Creation: New businesses and expanded operations will lead to increased job opportunities for Saudi citizens.

Economic Diversification: The law will contribute to the diversification of the Saudi economy, reducing its dependence on oil.

Improved Competitiveness: Saudi Arabia will become a more competitive investment destination, attracting a wider range of businesses and industries.

Enhanced Governance: The new law strengthens the legal framework for investment, providing greater clarity and certainty for investors.

As the law comes into effect, it will be crucial to monitor its implementation and address any challenges that may arise. However, the new investment regime represents a significant step forward in Saudi Arabia's efforts to become a global investment hub.

Additional considerations:

Executive Regulations: The detailed rules and procedures for implementing the new law will be outlined in the executive regulations, which are expected to be issued within 180 days of the law's publication.

Dispute Resolution: The availability of alternative dispute resolution mechanisms will provide investors with more efficient and cost-effective ways to resolve disputes.

Investment Incentives: The specific incentives offered to investors will depend on the nature of the investment and the sector involved.

National Security: Certain activities will remain reserved for Saudi nationals, ensuring national security interests are protected.

Overall, the new investment law is a positive development for Saudi Arabia and its economy. It demonstrates the Kingdom's commitment to creating a welcoming and supportive environment for investors.

JARAS Hospitality, a pioneering technology company dedicated to transforming the hospitality industry, has successfully closed a pre-Seed funding round of $666,000.

Led by a group of undisclosed angel investors, this investment will fuel JARAS's mission to provide innovative solutions that streamline hotel operations and elevate guest experiences.

Founded in 2023 by Ahmed Al Zubaidi, JARAS offers a comprehensive suite of hospitality management tools designed to simplify bookings, optimize pricing, and enhance operational efficiency.

The company's integrated platform empowers hotel managers with real-time insights, enabling them to make data-driven decisions and deliver exceptional service.

With this new funding, JARAS will focus on further refining its product offerings to meet the evolving needs of the hospitality market. The company plans to expand its customer base and solidify its position as a leading provider of innovative hospitality management solutions.

Key areas of focus for JARAS include:

• Product Development: Continuously refining and expanding the company's product suite to address the specific needs of hotels of all sizes.
• Customer Acquisition: Implementing targeted marketing strategies to attract new customers and expand JARAS's market reach.
• Strategic Partnerships: Collaborating with industry leaders to offer complementary services and enhance value for customers.
• Technology Innovation: Staying at the forefront of technological advancements to provide cutting-edge solutions.

"We are delighted to have secured this investment, which will enable us to accelerate our growth and deliver even greater value to our customers," said Ahmed Al Zubaidi, CEO of JARAS Hospitality. "Our goal is to revolutionize the way hotels operate by providing cutting-edge technology that improves efficiency, reduces costs, and enhances guest satisfaction."

JARAS's commitment to innovation and excellence has already made a significant impact on the hospitality industry.

By leveraging technology to streamline operations and improve guest experiences, JARAS is helping hotels to stay competitive in today's fast-paced market.

Jetapult, a leading global gaming investment firm, has announced a significant investment in UMX, a promising game studio based in Saudi Arabia. The $4.5 million infusion of capital will empower UMX to expand its game portfolio, reach new audiences worldwide, and pioneer innovative gaming experiences.

Founded in 2014 by Ali Alharbi, UMX has been at the forefront of developing engaging and entertaining mobile car games. With Jetapult's strategic support, UMX is poised to elevate its game development capabilities and solidify its position in the competitive gaming landscape.

Jetapult, known for its data-driven approach to gaming investments, will provide UMX with invaluable expertise and resources. The investment firm's team of seasoned gaming professionals will assist UMX in optimizing user acquisition, scaling monetization efforts, and leveraging cutting-edge analytics and AI technologies.

"This strategic partnership with Jetapult marks a pivotal moment for UMX," said Ali Alharbi, founder of UMX. "Their investment not only validates our potential but also provides us with the necessary tools and resources to accelerate our growth and innovation."

Jetapult's investment in UMX is a testament to the burgeoning gaming industry in Saudi Arabia. The region's growing appetite for gaming content and the increasing number of talented developers have created a fertile ground for investment opportunities.

As part of its global expansion strategy, Jetapult plans to invest in promising game studios in Southeast Asia, Europe, and the Middle East and North Africa (MENA) region. By supporting studios like UMX, Jetapult aims to foster sustainable growth and innovation in these emerging markets.

Jetapult's commitment to the gaming industry extends beyond financial support. The firm's "Invest & Operate" (I&O) model ensures that it provides hands-on guidance and operational assistance to its portfolio companies. This approach has proven successful in helping game studios achieve their full potential and deliver exceptional gaming experiences to players worldwide.

A Sharp Decline in Investment Activity

The Middle East and North Africa (MENA) startup ecosystem experienced a significant cooling down in August 2024. Total investments in startups plummeted to $83 million across 30 rounds, marking a 76% month-on-month (MoM) decrease from July's $355 million.

This downturn also represented a 24% year-on-year (YoY) decline.

No Mega Deals and Limited Debt Financing

The absence of any megadeals in August was a notable trend. The largest single investment was a $30 million allocation to Yuze. Debt financing accounted for only a small portion of the total investment, representing approximately 3%.

UAE Dominates, Egypt Struggles

The United Arab Emirates (UAE) continued its dominance in the MENA startup landscape, securing the majority of investment in August. UAE-based startups raised $55.7 million across 13 deals. Saudi Arabia followed in second place with $16 million raised through nine deals.

Egyptian startups, which had been at the forefront of MENA investment in July, witnessed a dramatic decline in August, raising only $7.6 million across four deals. Kuwait also made the top four thanks to a single deal worth $3 million.

Fintech and Web3 Remain Attractive

Despite the overall slowdown, investor appetite for fintech remained strong. For the third consecutive month, fintech maintained its position as the most funded sector in MENA, raising $54 million across eight deals. Web3 also regained its appeal, securing second place with $13.5 million in funding.

Early-Stage Focus and Undisclosed Stages

The majority of August's investment was directed towards early-stage startups. Two startups managed to raise $19 million for their Series A rounds, while five startups received a total of $15.6 million in seed funding.

Notably, a significant portion of the investment went to undisclosed stages, as seven startups did not disclose their funding round, accounting for $35.4 million.

B2B Remains Popular, Female-Led Startups Struggle

The business-to-business (B2B) model continued to attract investor interest, with 13 startups raising $46 million. Business-to-consumer (B2C) startups garnered $15 million across five rounds.

Female-led startups faced ongoing challenges, comprising a mere 0.3% of the total investment. Only one female-founded startup, Powder Beauty, secured an undisclosed pre-Series A round. Another startup with a female co-founder received a $150,000 accelerator grant.

August Highlights

Despite the overall downturn, the MENA entrepreneurial ecosystem witnessed several notable developments in August. A coalition of GCC-based family offices launched the "Waad Investment" firm with a target value of $200 million.

A $100 million fund was also established in collaboration between Gate Ventures and the Blockchain Centre in Abu Dhabi to support Web3 innovation.

In Egypt, T-Vencubator launched its inaugural initiative, "Where's the Problem?" to support the Egyptian ecosystem.

In the mergers and acquisitions (M&A) domain, the UAE-based property crowdfunding platform Maisour was acquired by Meteora Developers. Kuwait-based proptech Sakan also acquired the Qatari company Hapondo.

Entlaq, in collaboration with Wamda, released its biannual report on the Egyptian entrepreneurship sector for the first half of 2024, highlighting the challenges and opportunities faced by Egyptian startups.

Mansoor Al Marar, Vice President of Industrial Business Development at Khalifa Economic Zones Abu Dhabi (KEZAD Group), has highlighted the UAE's compelling investment climate.

The country's ease of doing business, cultural diversity, safety, and stability make it an attractive destination for entrepreneurs and investors worldwide.

Al Marar emphasized Abu Dhabi's strategic role in the Belt and Road Initiative as a gateway to the Middle East and beyond.

He underscored the UAE's commitment to diversifying its economy beyond oil and gas and its development of world-class infrastructure to support various industries.

The UAE's extensive logistics network, spanning over 40 countries, and its integrated industrial zones, covering 550 square kilometers, provide a conducive environment for businesses.

KIZAD, with its digital platform and integrated services, aims to facilitate global trade and connect markets.

The "Operation 300bn" project, launched to stimulate the UAE's industrial sector, offers further incentives for investors. Al Marar called for investment in the UAE, highlighting its flexible business environment, diverse range of business activities, and comprehensive economic partnership agreements with several countries.

KEZAD remains committed to supporting investor growth in Abu Dhabi by providing the necessary tools and resources to achieve their goals. In addition to its world-class infrastructure, KIZAD offers a range of benefits to investors, including:

• Simplified procedures: KIZAD has streamlined its processes to make it easier for investors to set up and operate businesses.
  
  
• Competitive costs: KIZAD offers competitive land and utility rates, making it an attractive option for businesses looking to reduce their costs.
  
  
• Skilled workforce: The UAE has a highly skilled workforce, which can be a valuable asset for businesses.
  
  
• Supportive government: The UAE government is committed to supporting businesses and promoting economic growth.

With its attractive investment climate and comprehensive range of benefits, the UAE is an ideal location for businesses looking to expand their operations.

The Special Economic Zone at Duqm (SEZAD) in Oman is actively positioning itself as a prime destination for foreign direct investment (FDI). To further strengthen its global reach, SEZAD has recently collaborated with an Irish consultancy firm and hosted a high-level delegation from the Asian Infrastructure Investment Bank (AIIB).

Training for Enhanced FDI Attraction

In partnership with the Irish consultancy, SEZAD has launched a comprehensive training program for its staff. This program aims to equip SEZAD with the necessary skills and knowledge to attract and nurture strategic FDI.

The focus is on understanding the pivotal role of FDI in economic growth, job creation, and GDP expansion. The training covers strategies for developing compelling value propositions, targeted marketing campaigns, and effective post-investment support to foster business expansion and maximize growth.

Collaboration with AIIB

SEZAD's commitment to international partnerships is further underscored by its recent meeting with a delegation from AIIB.

The discussions explored potential investment opportunities, strategies for strengthening economic ties, and ways in which AIIB can contribute to SEZAD's strategic development goals.

Institutional Transformation

These initiatives are part of a broader effort by OPAZ, the Public Authority for Special Economic Zones and Free Zones, to transform its institution and enhance its ability to attract both local and foreign investments.

The training programs and international collaborations are key components of this transformation, empowering SEZAD to play a more active role in fostering economic growth and development.

As entrepreneurs, you're juggling a multitude of responsibilities. From strategic planning to client meetings and employee management, the demands on your time can be overwhelming. Effective time management is crucial to navigating this complexity and ensuring your business runs smoothly. Here are three essential skills to help you optimize your productivity:

1. Leverage Technology for Efficiency

• Automation: Utilize productivity tools to automate repetitive tasks like social media posting, email responses, and appointment reminders. This frees up your time for more strategic activities.
• Digital Calendars: Employ digital calendars to schedule meetings, set deadlines, and track your progress. Features like time blocking can help you allocate specific time slots for different tasks.

2. Set Clear Time Limits

• Prioritization: Identify the most critical tasks and allocate your time accordingly. Use techniques like the Eisenhower Matrix to categorize tasks based on urgency and importance.
• Time Blocking: Allocate specific time blocks for different activities. This helps prevent distractions and ensures you stay focused on your priorities.

3. Master the Art of Single-Tasking

• Focus: Instead of multitasking, concentrate on one task at a time. Multitasking can lead to reduced efficiency and increased errors.
• Eliminate Distractions: Create a conducive work environment by minimizing distractions like phone notifications and unnecessary meetings.

By incorporating these time management strategies into your daily routine, you can enhance your productivity, reduce stress, and achieve your entrepreneurial goals more effectively. Remember, effective time management isn't just about squeezing more tasks into your day; it's about working smarter, not harder.