Fish farming spurs economic diversification

Muscat, March 23

Fish farming is one of the main economic activities in the Sultanate of Oman. The Food and Agriculture Organization confirms fish farming as one of the main pillars that diversify the country's national economy with its geographical features and long coastlines of more than 3,000 km.

The Ministry of Agriculture, Fisheries and Water Resources aspires to develop the aquaculture sector as a sustainable, competitive and environment-friendly sector that meets customers' needs of high-quality marine products.

In 2001, the FAO established the Regional Commission for Fisheries to enhance cooperation in fisheries among the member states of the Commission and serve as a governmental forum that helps countries discuss issues of common interest in these areas. Since its establishment, the Commission has implemented many important initiatives in fisheries and fish farming, including the establishment of two sub-working groups for fisheries and fish farming.

The Sultanate of Oman relied on various other sources to promote economic diversification within the initiatives and projects of the national programme. The country focused on the fisheries sector as one of the main aspects of economic diversification.

Based on the legislations on aquaculture in 2004 and updated in 2012, and cooperation with the Food and Agriculture Organization, the Sultanate of Oman has developed a national strategy for the development of aquaculture.

Emphasising that the experience gained from projects funded by the Ministry of Agriculture, Fisheries and Water Resources, and the subsequent technology transfer, stimulated the interest of entrepreneurs in commercial aquaculture projects. There are currently two commercial aquaculture projects: The Indian white prawn (Penaeus indicus) and the sea bream (Sparus aurata).

The ministry has also recently worked to open the registration for institutions and companies wishing to establish commercial aquaculture projects as per specific conditions. These announcements are renewed from time to time. Considering that the Sultanate of Oman is located on several open seas, the Indian Ocean, and the border adjacent to Yemen, the demand for Omani fish is high, and the country has the capability to cater to the needs of internal and external demand for fish.

The Sultanate Oman has distinguished itself as an investment destination for fish farming projects with its rich marine resources and biodiversity along the coast of the Sultanate of Oman, which extends 3,165 km, a strategic location near the most prominent export markets in the region and the world. It also has an investor-friendly environment with attractive incentives such as tax exemptions, soft loans, etc.

Among the advantages are scientific institutions that provide cadres specialised in fish farming, in addition to legal codes regulating the fish farming sector.

In recent years, the ministry has made efforts to develop fish farming as a strategy to develop the sector in cooperation with the Food and Agriculture Organization. The ministry has taken important steps to develop the sector to make it attractive for investors. It aims to set up environmentally sustainable projects throughout the country. Among these projects, the South Korean Haego Group opened new horizons for marine development projects by opening the largest fish hatchery in the Middle East.