By Samuel Kutty — MUSCAT: Feb. 13 - The Sultanate is expected to witness a significant growth in fish production during the Ninth Five-Year Plan as investment companies have started their activities in the sector. As part of the Ministry of Agriculture and Fisheries’ plans, many projects are being implemented with investments amounting to RO 509.4 million, and a fish production output of 462,000 tonnes. “Hopefully, these projects are expected to receive a direct financial return of RO 369.6 million in fixed prices and an indirect return of RO 739.2 million, in addition to providing more than 8,600 additional direct jobs by 2020,” says the ministry.
In line with the future strategy and the ongoing efforts by the ministry, a contract has been signed with the World Bank to complete the development plans in the sector.
The agreement is intended to develop a comprehensive strategy for the fisheries sector as per international standards and requirements.
“This project is now in its final stages,” the ministry reveals.
The fisheries sector aims at increasing fish production and enhance the sector’s efficiency in a sustainable manner. It will also help in providing a safe supply of fish products for domestic consumption, and exploration of untapped fish stocks.
“This can be achieved by encouraging investments in coastal fishing, development of shipping industry, artisan fishing, private sector investments, attracting foreign investments in the fishing industry, and initiating aquaculture projects and creation of necessary landing facilities,” the ministry adds.
In the first phase of the strategic plan, work began on implementing 33 projects, while work is also underway to implement some of these projects and complete them during the current plan.
The value of the GDP of the fisheries sector has increased from RO 162 million in 2013 to RO 182 million in 2014, which is an annual growth rate of 12 per cent.
According to the 2015 statistics, the total fish production increased from 211,000 tonnes in 2014 to 248,000 tonnes in 2015, an annual growth rate of 18 per cent.
In 2015, free fishing made the highest proportion of production, reaching 245,000 tonnes with a rate of growth of 18 per cent.
The volume of coastal fishing reached 2,024 tonnes and commercial fishing 210 tonnes.
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