Investment Opportunities in the Fishing Industry
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Investment Opportunities in the Fishing Industry
Hamed Al-Oufi, Ph.DUndersecretary for Fisheries Wealth Ministry of Agriculture and Fisheries WealthMuscat, Sultanate of Oman
Oman Economic Forum, 18-19 March 2014
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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
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Highly valued species on the world markets including tuna, kingfish, abalone, grouper, copia, breams, shrimp, lobster and many others
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The average growth rate (2009-2012)
Production (in 1000 tons)
Category2012 2011 2010 2009
12.2% 184 151 147 133 Traditional fishing
-51.3 3 6 17 26 Commercial fishing
6.3% 192 157 164 159 Total fish production
Fish Production and Growth
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International Policy & Planning
National Policy & Planning
Five-Year Plan (2011-2015)
Strategic Direction
Action Plan
Fisheries Development Strategy 2013-2020
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Upgrade:- - Fishing fleet
- Infrastructure
Develop fish marketing and
exports
Develop fish processing
industry
Develop aquaculture
Objectives of the Development plan
Increase contribution to the GDPEmployment creation for nationals
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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
Fisheries Development Strategy 2013-2020 Implementation
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2014 2020
Public investment
Private investment
Public Private Partnership
0
100
%
Government will invest around RO 600 m ($ 1.6 b) in infrastructure, fleet development and other services to ensure accelerated growth and then privatize
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Economic Return by 2020 Direct Return
Indirect Return
369.6 Million RO
Impact of the Indirect Return on the GDP (Multiplier = 2)
Contribution to GDP 739.2 Million RO
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Investment opportunities
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Infrastructure & Fishing ports
• 21 ports in operation• 3 under construction • 3 tendering process• 6 in design
• Wholesale fish market • Many regional fish
markets
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Lima- Layout – 18 February 2014
Lima
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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
Boost in Processing capability
• 60 processing plants,• Storage facilities, • Fishing port, • Vessel repair, • Aquaculture, • R&D and • Training facilities
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Master PlanDuqm Fisheries Industrial Zone
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Aquaculture Opportunities in Oman
Vision“Oman aims to be the leader in Aquaculture in the Gulf Region.”
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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
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1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030
Year
Mili
on to
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n (b
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n)
Capture Fishereis Aquaculture World population
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Aquaculture in Oman to reach 200,000 tons in the next 3 decades growing @ > 15 % per annum
The Aquaculture Vision
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2010 2015 2020 2025 2030 2035
prod
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n in
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year
Oman case was based on what has been achieved in Chile, Greece,Turkey, Norway and Egypt
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- 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
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• 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
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Thank you for your valuable time and keen interest