MUSCAT : The plan targets a 10 percent annual growth rate for the sector, with a goal to increase its contribution to the Gross Domestic Product (GDP) by approximately 2 percent. This growth aims to strengthen economic growth, support food security, and enhance Oman’s regional and global standing in the fisheries industry and marine activities in a sustainable manner.

Dr. Salem Al Sheikh, official spokesperson for the Ministry of Economy, stated that the fisheries sector saw a growth rate of 10 percent in the third quarter of 2024 compared to the same period in 2023. From January to September 2024, the sector recorded a growth rate of 7.5 percent compared to the same period in 2023, contributing RO 274.4 million to the GDP at constant prices, which accounts for approximately 1 percent of Oman’s total GDP of RO 28.1 billion during the same period.

At current prices, the fisheries sector recorded a 9.5 percent growth in the third quarter of 2024, with the growth rate from January to September reaching 7.4 percent, contributing RO 294 million to the GDP of RO 30.64 billion. In comparison, the sector’s total contribution to GDP at current prices amounted to RO 428 million in 2023.

Dr. Al Sheikh emphasised that Oman has achieved self-sufficiency in fish production, meeting local demand and boosting export volumes. The sector’s growth is being driven by several key projects, including the fishing port and fish canning complex in the Duqm Special Economic Zone, and the Al Khuwaimiyah shrimp farm in the South Al Sharqiyah Governorate. Various development projects also are underway to enhance fishing ports, promote sustainable marine resource management, and increase investment in the sector.

The Tenth Five-Year Plan includes 224 development projects for marine resources, including fisheries, ports, water resources, dams, and environmental protection, with an investment cost of approximately RO 1.6 billion. Besides, eight programmes and initiatives will be implemented to enhance environmental sustainability and maximise the benefits of natural resources.

Dr. Al Sheikh also pointed out that a key project, the Masirah Multipurpose Port, has been awarded this year and will provide a major boost to fish production and diversify activities in the region. Work on the Dibba Port in Musandam Governorate is also progressing, with an 80 percent completion rate expected by the end of 2024. Other ongoing projects include Lima Port, Kumzar Port, the fishing port in Raysut, and Shanna Port, all of which aim to contribute to Oman Vision 2040 by exploiting marine resources, boosting food industries, stimulating investment, and creating new job opportunities across the Sultanate’s governorates.

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