Agriculture & Fisheries
From The Report: Oman 2023
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With 3200 km of coastline and swathes of cultivated land, agriculture and fisheries are key economic activities across the sultanate, providing employment opportunities, and supporting the country’s economic diversification and food security efforts. These were vital industries prior to the discovery of hydrocarbons, particularly for coastal communities. The climate allows for year-round fishing, and Oman is the only net exporter of fish in the GCC, accounting for over 31% of the region’s fisheries production. Increased government support under Fisheries and Aquaculture Vision 2040, a long-term plan for the sector announced in December 2015, seeks to turn it into a profitable, sustainable industry. To complement its food procurement policies, Oman has increased its investment and partnerships with private players to boost local food production, increase productivity and encourage the adoption of new technologies.

This chapter contains interviews with Mohammed Al Harthy, CEO, Oman Food Investment Holding; and Nabil bin Salim Al Bimani, Group CEO, Fisheries Development Oman.

Articles from this Chapter

Overview

Continued growth: Investment and new technologies are helping agricultural and fishing enterprises become more self-sufficient
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With 3200 km of coastline and swathes of cultivated land, agriculture and fisheries are key economic activities across the sultanate, providing employment opportunities, and supporting the country’s economic diversification and food security efforts. These were vital industries prior to the discovery of hydrocarbons, particularly for coastal communities. The climate allows for year-round fishing, and Oman is the only net exporter of fish in the GCC, accounting for over 31% of the region’s fisheries…

Analysis

Sustainable production: Regenerative farming practices can help mitigate climate change while creating jobs and providing new revenue sources
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In light of the Covid-19 pandemic, supply chain disruptions and broader environmental concerns, many countries are looking to improve the efficiency of agriculture while reducing their carbon footprint. Russia’s invasion of Ukraine, which curtailed exports of maize, wheat and cooking oil from two of the world’s key producers, has given this more impetus and raised broader concerns about global food security. While many countries have moved to shore up supply chains and improve agreements with…

Interview

Bridging the gap: Mohammed Al Harthy, CEO, Oman Food Investment Holding (Nitaj), on boosting self-sufficiency and attracting investment
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Interview: Mohammed Al Harthy Where do you identify investment opportunities in the agriculture sector? MOHAMMED AL HARTHY: Players in the domestic agriculture industry have placed a significant emphasis on ensuring food security, thus presenting substantial prospects for local entities within the agri-food segment, including for our newly rebranded organisation, Nitaj. Nitaj aims to bridge the gap between food companies, investors and relevant parties by fostering synergies to improve food security,…

Interview

Room for growth: Nabil bin Salim Al Bimani, Group CEO, Fisheries Development Oman (FDO), on growth opportunities in the fishing industry
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Interview: Nabil bin Salim Al Bimani What are the main investment opportunities for the local fishing industry, and how do you assess its potential as a contributor to the economy? NABIL BIN SALIM AL BIMANI: The local fishing industry is an important contributor to the economy and there is significant potential for this contribution to grow. The strategic focus for the 2023-26 period will be centred on three key pillars: improving infrastructure, expanding investment products and maximising returns. The…

Analysis

Riding the wave: Countries are starting to seriously consider aquaculture as an avenue to ensuring food security
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With per capita fish consumption having doubled in the past six decades, aquaculture is becoming increasingly important when it comes to combatting food insecurity. Recent innovations seek to improve sustainability and productivity while assuaging quality concerns. Venture capitalists invested $39bn in food tech start-ups in 2021, double the amount seen in 2020. While over half of this amount went to digital grocers and online marketplaces, a number of companies developing innovative aquaculture…