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Investment Opportunities in the Fishing Industry Hamed Al-Oufi, Ph.D Undersecretary for Fisheries Wealth Ministry of Agriculture and Fisheries Wealth Muscat,

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Presentation on theme: "Investment Opportunities in the Fishing Industry Hamed Al-Oufi, Ph.D Undersecretary for Fisheries Wealth Ministry of Agriculture and Fisheries Wealth Muscat,"— Presentation transcript:

1 Investment Opportunities in the Fishing Industry Hamed Al-Oufi, Ph.D Undersecretary for Fisheries Wealth Ministry of Agriculture and Fisheries Wealth Muscat, Sultanate of Oman Oman Economic Forum, March 2014

2 Fisheries in Oman A centuries’ old tradition 3165 km of pristine coastline Oman fisheries today —Over 191,000 tons per year —Valued at US$ 355 million (at first sale) —Employs more than 40,000 nationals

3 Highly valued species on the world markets including tuna, kingfish, abalone, grouper, copia, breams, shrimp, lobster and many others

4 The average growth rate ( ) Production (in 1000 tons) Category % Traditional fishing Commercial fishing 6.3% Total fish production Fish Production and Growth

5 Fisheries Development Strategy

6 Upgrade:- - Fishing fleet - Infrastructure Develop fish marketing and exports Develop fish processing industry Develop aquaculture Objectives of the Development plan Increase contribution to the GDP Employment creation for nationals

7 More investment and technology has found its way to Oman’s shores 259 $ million in the Eighth five-year Development Plan ( ) 1.3 $ Billion government Budget ( ) Aimed to increase fish production from around 200,000 tons at present to 480,000 tons in 2020 and to create more than 20,000 jobs Fisheries Development Strategy Implementation

8 Public investment Private investment PublicPrivatePartnership Public Private Partnership % Government will invest around RO 600 m ($ 1.6 b) in infrastructure, fleet development and other services to ensure accelerated growth and then privatize

9 Economic Return by 2020 Direct Return Indirect Return Million RO Impact of the Indirect Return on the GDP (Multiplier = 2) Contribution to GDP Million RO

10 Investment opportunities

11 Infrastructure & Fishing ports 21 ports in operation 3 under construction 3 tendering process 6 in design Wholesale fish market Many regional fish markets

12 Lima- Layout – 18 February 2014 Lima

13 Duqm Fisheries Industrial Zone 250 $ m to be invested in the Zone and a fishing port The largest multi-purpose fisheries facilities in the Middle East The largest multi-purpose fisheries facilities in the Middle East Boost in Processing capability 60 processing plants, 60 processing plants, Storage facilities, Storage facilities, Fishing port, Fishing port, Vessel repair, Vessel repair, Aquaculture, Aquaculture, R&D and R&D and Training facilities Training facilities

14 Master Plan Master Plan Duqm Fisheries Industrial Zone

15 Aquaculture Opportunities in Oman Vision “Oman aims to be the leader in Aquaculture in the Gulf Region.”

16 An extra 40 million tons of fish will be needed by 2025 (World Bank, 2007) A market led approach World population and fishery supply trends

17 Aquaculture in Oman to reach 200,000 tons in the next 3 decades > 15 % per annum The Aquaculture Vision Oman case was based on what has been achieved in Chile, Greece,Turkey, Norway and Egyp Oman case was based on what has been achieved in Chile, Greece,Turkey, Norway and Egypt

18 - Resources biodiversity along > 3000 km coastline - World class infrastructure - Excellent seafood processing sector - Strategic location close to key export markets - An investor-friendly environment with attractive suite of incentives - Political stability and an orderly civil society - Professional, business-friendly legal and regulatory framework Why investing in Oman

19 Ship yards Marine construction Fleet operators Repair and maintenance Fish processing/value added Logistics and storage facilities Fish trade/export Supply of spare parts Supply of fishing gear, equipment Ice production Investment opportunities Fish feed for aquaculture Hatcheries Supply of technology Supply of nets, etc. Diving companies Fish farms operation Consultancies Training

20 Thank you for your valuable time and keen interest


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