MUSCAT, DEC 23
Oman has unveiled a new investment drive aimed at transforming its fisheries sector from a largely resource-based activity into an integrated, value-added manufacturing industry anchored in Duqm. The initiative underscores the government’s push to deepen industrial activity around natural resources while strengthening food security and export capacity. The initiative is designed to position the Sultanate of Oman as a regional hub for advanced fisheries and fishing industries, fully aligned with Oman Vision 2040.
Titled “From Sea to Manufacturing: Leading Opportunities Shaping the Future of Fisheries and Fishing Industries in the Sultanate of Oman,” the initiative is being led by the Ministry of Agriculture, Fisheries and Water Resources (MAFWR) in coordination with the Public Authority for Special Economic Zones and Free Zones (OPAZ). It focuses on integrating fishing operations directly with downstream processing, packaging and manufacturing activities, thereby maximising the economic value derived from marine resources.
At the heart of the announcement is the Duqm Fisheries Industrial Zone, which has been earmarked as the focal point for a new wave of fisheries-related investments. A suite of opportunities is being offered to local and international investors, each combining processing facilities with guaranteed access to raw materials through regulated fishing licences. This integrated model is intended to reduce supply-chain risk, ensure consistent throughput for factories, and encourage long-term capital investment.
The investment opportunities span a broad range of species and processing activities. These include canning factories for sea bream and grouper under both coastal and commercial fishing licences, as well as sardine and tuna canning facilities linked to coastal fishing rights. Additional projects include a demersal fish canning factory tied to commercial fishing licences using lines and cages, and a demersal fish fillet factory operating under coastal licences. The portfolio also features a processing and packaging factory for tuna and squid, supported by coastal enclosure-based fishing licences.
A key attraction for investors lies in the scale of resource access on offer. Fishing licences associated with these projects come with annual quotas ranging from 6,000 to 30,000 tonnes, providing the volume certainty needed for industrial-scale processing. By linking quotas directly to manufacturing facilities, the authorities aim to discourage raw fish exports and instead promote local processing, job creation and export of higher-value finished products.
The incentive package accompanying the initiative is equally robust. Investors will benefit from income tax exemptions for an initial period of 10 years, with the possibility of renewing this exemption twice. Customs duties will be waived on imports and re-exports, and factory equipment will also enjoy tax exemptions, significantly reducing upfront capital costs.
Operational incentives further strengthen the investment case. Projects will have access to a special electricity tariff designated for food security activities, alongside technical and operational support from relevant authorities. From a land and legal perspective, investors will be granted land use rights for up to 50 years, renewable, within a transparent and clearly defined regulatory framework designed to enhance investor confidence.
Strategically, the initiative reinforces Duqm’s growing role as a multi-sector industrial hub. Already positioned as a centre for heavy industry, logistics and energy, Duqm is now being developed as a cornerstone of Oman’s blue economy. The fisheries initiative complements existing infrastructure at the port and within the special economic zone, offering proximity to export routes and regional markets across Asia, Africa and the Middle East.
The application window for interested investors opens on December 22, 2025, and will run until February 20, 2026.
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