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29-Oct-2018

Fisheries sector expected to get OMR1bn private investment in five years

The Ministry of Agriculture and Fisheries is targeting to boost Oman’s fish production to 1.4mn tons annually in the next five years and fisheries sector’s contribution to the sultanate’s GDP is expected to reach OMR740mn by 2023. The private sector will contribute for 93% of investments in the fishing sector, which have been approved by the Tanfeedh programme, Dr Abdul Aziz bin Said al Marzouqi, director general of fisheries resources at the Ministry of Agriculture and Fisheries, said in a statement to the Oman News Agency. “Ninety one investment projects and initiatives for the private sector have been approved. The contribution of the private sector to these initiatives is expected to reach OMR1bn by 2023,” Marzouqi said.