(MENAFN- Muscat Daily) Muscat- The Ministry of Agriculture and Fisheries (MoAF) has said that fisheries projects are expected to contribute RO1bn to Oman's gross domestic product by 2025.
Speaking to Muscat Daily, H E Dr Hamed Said al Oufi, Undersecretary in MoAF said, 'Projects from fish farming, fish processing plants, training programmes and export of fish products will all contribute worth RO1bn to the country's GDP by 2025.'
H E Dr Oufi said that these projects will help create around 8,000 jobs for Omanis and maybe more. 'These projects will play a key role in ensuring Oman's food security and support inbound investments.' Several fisheries projects have been initiated as part of the national economic diversification programme (Tanfeedh), he said.
'During Tanfeedh discussion sessions, we looked at several opportunities in this sector. In aquaculture and export of processed marine products, we identified 91 projects which can be implemented by the private sector.'
He said that private sector firms will invest 93 per cent of the total investment and the government will invest the remaining. 'This is unusual because the usual practice it's the government sector which puts in all the money and the private sector reaps the fruits. This time however private sector will take the lead in investments,' H E Dr Oufi said.
He said that these all fisheries projects will increase Oman's fisheries output from 280,000 tonnes last year to 1.3mn tonnes in future. 'We will push to export more marine products in future to earn foreign currency boosting the Omani economy. 'We have two shrimp farms coming up in the Sharqiyah region. Each will have a thousand tonnes capacity. They will create employment and contribute to the economy. Private sector will take care of the investments. We have done the framework. This will happen in the next six months.'
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