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Investment Opportunities in the Fishing Industry

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, 18-19 March 2014. Fisheries in Oman. A centuries’ old tradition

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Investment Opportunities in the Fishing Industry

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  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, 18-19 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. Fish Production and Growth

  5. Fisheries Development Strategy 2013-2020

  6. Objectives of the Development plan Upgrade:- - Fishingfleet - Infrastructure Develop fish processing industry Develop aquaculture Developfishmarketingandexports Increase contribution to the GDP Employment creation for nationals

  7. Fisheries Development Strategy 2013-2020 Implementation • More investment and technology has found its way to Oman’s shores • 259 $ million in the Eighth five-year Development Plan (2010-2015) • 1.3 $ Billion government Budget (2013-2020) • 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

  8. PublicPrivatePartnership 100 Private investment Public investment % 0 2014 2020 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 369.6 Million RO IndirectReturn Impact of the Indirect Return on the GDP (Multiplier = 2) ContributiontoGDP 739.2 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 Boost in Processing capability • 250 $ m to be invested in the Zone and a fishing port • The largest multi-purpose fisheries facilities in the Middle East • 60 processing plants, • Storage facilities, • Fishing port, • Vessel repair, • Aquaculture, • R&D and • Training facilities

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

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

  18. Why investing in Oman - Resources biodiversityalong > 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

  19. Investment opportunities 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 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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