Oman's government plans to invest around USD 1.6 billion (EUR 1.2 billion) in the development of fisheries related infrastructure over the next seven years, aimed at achieving a doubling of the sector's contribution to the country's gross domestic product (GDP). According to a top official of the Ministry of Agriculture and Fisheries Wealth, the pledged amount is in addition to the USD 259 million (EUR 188 million) budgeted towards fisheries development in the current 8th Five-Year Plan (2011-2015).
"The objective of the National Fisheries Development Strategy (2013-2020) is to enhance the fisheries sector's contribution to the GDP as well as generate employment opportunities for Omanis. Our aim is to boost fisheries production from the present roughly 200,000 metric tons (MT) per year to around 480,000 MT by 2020, as well as to generate 20,000 additional jobs during this period," said Dr. Hamed al Aufi, Under-Secretary for Fisheries Wealth.
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March 24, 2014
