(MENAFN- Muscat Daily) Muscat- The field of marine biotechnology has evolved into a multi-billion dollar industry which will support the country's diversification objectives, said Professor Bassam Soussi, chairman of the organising committee and CEO of Oman Centre for Marine Biotechnology (OCMB).

He was speaking at the Frontiers in Marine Biotechnology Conference, hosted by OCMB in partnership with the Sultan Qaboos University (SQU), and Oman LNG Development Foundation at Grand Hyatt, Muscat on Monday.

'Pursuing the development of marine biotechnology in Oman, alongside efforts for collaboration and regional awareness, will not only support the country's diversification objectives, but play a vital role in creating new commercial and employment opportunities for the local workforce.'

The event was held under the patronage of Mohamed Nasser al Rasby, secretary general in the Ministry of Defence. The conference, in addition to two scientific sessions, also had roundtable discussions and social events to serve as networking hubs for further dialogues.

Prof Soussi delivered the welcome address, followed by a keynote address on the new frontiers in marine biotechnology and the access and use of marine resources in the arena of legislation and ethics.

The utilisation of marine biotechnology in the field of medicine and pharmaceuticals has proven successful due to the high diversity exhibited by marine organisms, as opposed to those on land. Deep-sea organisms are used by drug companies and industrial-process engineers to provide genetic material that can be altered for industrial usage. Research within marine biotechnology has furthermore resulted in several important drug discoveries.

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