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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, Sultanate of Oman Oman Economic Forum, 18-19 March 2014 . Fisheries in Oman. A centuries’ old tradition - PowerPoint PPT Presentation
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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
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
Highly valued species on the world markets including tuna, kingfish, abalone, grouper, copia, breams, shrimp, lobster and many others
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
International Policy & Planning
National Policy & Planning
Five-Year Plan (2011-2015)
Strategic Direction
Action Plan
Fisheries Development Strategy 2013-2020
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
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
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
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
Investment opportunities
Infrastructure & Fishing ports
• 21 ports in operation• 3 under construction • 3 tendering process• 6 in design
• Wholesale fish market • Many regional fish
markets
Lima- Layout – 18 February 2014
Lima
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
Master PlanDuqm Fisheries Industrial Zone
Aquaculture Opportunities in Oman
Vision“Oman aims to be the leader in Aquaculture in the Gulf Region.”
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
0
50
100
150
200
250
1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030
Year
Mili
on to
nnes
01
234
567
89
Popu
latio
n (b
illio
n)
Capture Fishereis Aquaculture World population
Aquaculture in Oman to reach 200,000 tons in the next 3 decades growing @ > 15 % per annum
The Aquaculture Vision
0
50
100
150
200
250
2010 2015 2020 2025 2030 2035
prod
uctio
n in
tons
year
Oman case was based on what has been achieved in Chile, Greece,Turkey, Norway and Egypt
- 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
• 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
Thank you for your valuable time and keen interest