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State-Owned Company for Aquaculture on Cards

Economics Politics +2 more

OMAN - The Oman government is planning to establish a state-owned company for supporting the aquaculture sector in the country.

According to Times of Oman, the proposal to form a separate national company for aquaculture is part of a series of initiatives to boost production to 220,000 tonnes by 2030.

Presenting a paper on Investment opportunities in aquaculture in the Sultanate at the Economic Forum, Dr Saud Hamoud Al Habsi, Director General of Fisheries Research, Ministry of Agriculture and Fisheries, said the country has several inherent advantages like the long coastal region and better infrastructure facilities like airports for developing aquaculture sector.

Also, the ministry has allocated special locations for aquaculture farms. There is also a special centre to provide technical support to entrepreneurs who set up aquaculture farms.

Dr Al Habsi said the council of ministers has adopted a plan to develop aquaculture farming as part of a strategy to achieve food security.

He said as many as 40,000 fishermen work in aquaculture field. Of them, 36 per cent are from Batinah region, 26 per cent from Sharqiya and 14 per cent from Muscat.

He added that the aquaculture production in Oman is projected to increase to 29,000 tonnes by 2020, 74,300 tonnes by 2025 and 220,000 tonnes by 2030.