Fisheries and Aquaculture in Oman Fisheries and Aquaculture in Oman | Page 4

Why you should be investing: Recent initiatives, sure to get high returns make it a lucrative investment sector, making it Oman’s next most important sector for the GDP Large and Increasing Domestic Demand • Oman has highest per capita consumption of fish at 27 kg • Population increased by 41% between 2006 and 2014, to 3.63 mn High Growth in an sector Promising First Mover Advantage • Current production from aquaculture not more than 500 tonnes per annum, out of a total of about 206,000 tonnes • Government plans to produce no less than 220,000 tonnes worth US$ 884 MN from aquaculture by 2030 Increase in domestic and global fish prices • Sustained hikes in prices fish domestically • Global increase in prices of shrimps, sturgeons Government Investments • US$ 1.6 BN allocated by Omani Government for development of fisheries infrastructure and domestic fish markets, ports, for expanding fleet and subsidizing pisciculture and training, processing and development of overseas export markets • This is in addition to US$ 259 MN pledged in the 8th Five Year Plan • Government to rally for private investments worth US$ 100 MN for Phase 1 of Aquaculture Development Plan, launched in 2012 Government Support • Government’s Fisheries Support Program • Promotes and educate on sustainable fishing practices • Will setup of 41 fish markets in towns and cities across Oman • Establishment of Oman Aquaculture Development Company for aquaculture development Infrastructure Investments in Fisheries and Associated Processing • Minister of Agri and Fisheries announces US$ 1.29 billion in fisheries development between 2013 and 2020 in 2013 • New Duqm Fisheries Industrial Zone, worth US$ 250 mn currently in tender phase, to be completed partially by 2017, completely by 2018, containing: • More than 60 plots of land on offer to private sector companies for processing plants and other facilities • Research centre, jetties, harbours and ports • International standards and quality assurance centre • Cold storage and modern handling facilities