Overview
The aquaculture sector in Oman represents a significant component of the Sultanate’s economic landscape. As Oman pursues its Vision 2040 diversification agenda, this sector has attracted growing attention from policymakers, investors, and industry participants alike. This page provides a comprehensive analysis of aquaculture in Oman, covering market fundamentals, competitive dynamics, strategic alignment, and forward-looking investment considerations. Understanding the current state and trajectory of aquaculture is essential for stakeholders seeking to participate in Oman’s economic transformation.
Market Size & Growth
Oman’s fisheries sector generates annual production exceeding 580,000 tonnes, making it one of the largest fishing nations in the Arabian Peninsula. The sector contributes approximately 1 percent to GDP, with ambitions to increase this share significantly through value addition and aquaculture expansion. Over 50,000 fishermen operate across Oman’s 3,165-kilometre coastline using traditional and modern fishing methods. Seafood exports generate approximately 200 million OMR in annual revenue, with key markets in Asia, Europe, and neighbouring Gulf states.
Key Players
The Ministry of Agriculture, Fisheries and Water Resources oversees sector regulation and development planning. The Oman Fisheries Company is a major commercial operator handling processing and export activities. Al Jazeera Services and Seafood International are among the leading private sector participants. The Fisheries Research Centre conducts stock assessment and sustainability research. International investors are entering the aquaculture sub-sector with projects in shrimp farming and offshore fish cage cultivation. Small-scale fishermen cooperatives play an important role in coastal communities.
Vision 2040 Alignment
The fisheries sector is prioritised under Oman Vision 2040 as a contributor to food security, economic diversification, and rural employment. The National Fisheries Strategy focuses on sustainable resource management, stock enhancement, and value chain modernisation. Aquaculture development is a flagship initiative, with dedicated industrial zones and hatchery facilities under construction. Technology adoption, including GPS-enabled fleet management and cold chain monitoring, is improving operational efficiency. Omanisation of the fishing workforce is supported through training programmes and vessel financing schemes.
Investment Outlook
Fisheries and aquaculture present compelling investment opportunities driven by government support and growing global demand for protein. Aquaculture projects benefit from subsidised land, coastal access rights, and technical assistance from government agencies. Fish processing infrastructure, including IQF facilities and canning plants, requires significant investment to capture value currently lost to raw exports. Cold chain logistics and distribution networks offer complementary investment angles. The blue economy concept extends opportunities to marine biotechnology, algae cultivation, and sustainable coastal tourism.