Oman’s Fisheries Sector Offers Lucrative Investment Opportunities
The Ministry of Agriculture, Fisheries, and Water Resources (MAFWR) in Oman has unveiled 24 new investment opportunities in the fisheries sector, valued at over RO5mn. With projects totaling more than RO45mn in the pipeline, investing in Oman’s fisheries industry promises sustainable and profitable returns.
As fish production in Oman reached 219,323 tonnes worth RO142.6mn by the first quarter of 2024, officials emphasized the government’s unwavering support and the increasing demand for marine products, making it an appealing option for investors.
The ministry is actively attracting investors by offering various facilities including a 2-year grace period for rental fees, creating job opportunities for Omani youth, and hosting public auctions for establishing fish markets, collection centers, and more across different governorates.
Moreover, 60% of the opportunities are reserved for small and medium enterprises to enhance their participation in the sector. In addition, MAFWR enforces a ban on kingfish catching from August 15 to October 15 to conserve the species and ensure sustainable fishing practices, thus protecting the kingfish population for future generations.
[ad_2]
Source link