Muscat – The Ministry of Agriculture, Fisheries, and Water Resources (MAFWR) in Oman has announced 24 new investment opportunities in the fisheries sector, valued at over RO5mn. Additionally, it is planning projects with a combined investment of more than RO45mn.
Investing in Oman’s fisheries sector presents a promising opportunity for profitable and sustainable returns, officials said. The government’s continuous support and the rising demand for marine products make it an attractive option for investors, they explained.
According to the ministry, fish production in Oman reached approximately 219,323 tonnes by the end of the first quarter of 2024, with a total value of RO142.6mn.
Khalid bin Salem al Amri, Head of the Fisheries Investment Department, highlighted the ministry’s efforts to attract investors. “The facilities provided by the ministry include a grace period of up to two years for paying rental fees, creating investment opportunities, and generating jobs for Omani youth,” he said.
The ministry has offered, in a public auction, 24 investment opportunities to establish, manage, and operate fish markets, collection centres, shops, marine workshops, and cold stores in various governorates.
Opening these investment opportunities will encourage private sector’s involvement in the sector and improve services by providing essential facilities like sorting and packaging fresh fish, managing fish markets, and maintaining marine workshops.
Amri noted that 60% of these opportunities are reserved for small and medium enterprises (SMEs), so as to allow them to participate in fish marketing, rent market facilities, manage boat repair workshops, and utilise cold storage and ice production units.
The ministry also plans to offer five additional investment opportunities, valued at over RO45mn, on the ‘Tatwir’ platform of the Ministry of Housing and Urban Planning.
These projects include developing and managing fishing ports in Liwa and Seeb, establishing a fish market in Masirah, building a fish freezing and packaging factory in Dibba, and investing in a fish market in the Wudam al Sahil area of Musannah.
