Overview
Small and medium enterprises in Oman’s fisheries sector represent a critical but underdeveloped segment of the value chain. The Riyada (Public Authority for SME Development) and Al Raffd Fund provide financing and incubation support, while the National SME Development Programme targets raising SME contribution to 35 percent of GDP by 2040. Within fisheries, SME participation is concentrated in services, maintenance, and distribution segments.
Key Indicators
| Indicator | Current | 2040 Target |
|---|---|---|
| SME Share of Sector | ~25-35% | 50%+ by 2040 |
| SME Employment | Growing | Major employer |
| Access to Finance | Limited | Improved |
Analysis
The SME ecosystem surrounding Oman’s fisheries sector shows both promise and structural constraints. While large enterprises like Ministry of Agriculture and Fisheries, Oman Fisheries Co., Al Jazeera Seafood, Blue Waters anchor the sector, SMEs fill essential roles in supply chains, maintenance, specialised services, and last-mile delivery. Government procurement mandates requiring 10 percent SME allocation have increased opportunities, but access to finance remains the primary barrier. Bank lending to SMEs carries high collateral requirements, and venture capital availability is limited. The sector’s total investment of OMR 500 million in aquaculture projects creates substantial subcontracting opportunities for qualified SMEs.
Challenges
Access to finance, limited management capacity, regulatory compliance burden, and competition from larger firms constrain SME growth. Overfishing pressure on traditional stocks, limited cold-chain and processing infrastructure, low value addition (70 percent sold fresh/unprocessed), climate change impacts on marine ecosystems, and competition from Asian aquaculture imports.
Opportunities
Government procurement set-asides, incubator programmes, e-commerce platforms, and value chain integration with anchor tenants offer pathways. Aquaculture mega-projects (shrimp, abalone, sea cucumber), fish processing and canning for export, marine biotech research, sustainable fishing certification (MSC), and integration with tourism (sport fishing, seafood gastronomy trails).
Vision 2040 Targets
Raise fisheries GDP share to 3 percent; grow annual production to 600,000 tonnes (including aquaculture); establish 10 aquaculture zones; increase processed fish exports fivefold; maintain 95 percent Omanisation.