Fisheries Development Oman (FDO), the fisheries investment arm of the Oman Investment Authority (OIA), has signed an advisory contract with AquaBioTech Group, a Malta-based aquaculture consultancy. AquaBioTech will provide a wide range of consulting services to support FDO’s mission of advancing sustainable aquaculture and fisheries sectors in Oman. Their work will include developing business strategies and conducting technical assessments.
Oman, located to the east of Saudi Arabia and the UAE, boasts nearly 2,000 miles of coastline along the Gulf of Oman and the Arabian Sea.
$1.2 Billion Investment Fund
FDO has been tasked with co-investing in various aquaculture, fisheries, and marine biotechnology initiatives across Oman, with a $1.2 billion investment from the government. Key investments already include seabream cage farming with Blue Waters LLC, semi-intensive shrimp farming in the Al Sharqiyah South governorate, and the development of a fishing port in Duqm.
FDO aims to use these strategic investments to drive growth and diversification in Oman’s fisheries sector, ensuring long-term sustainability. These efforts align with the country’s broader goals for sustainable development and economic diversification as outlined in Oman’s Vision 2040.
Badar Said Al Naabi, FDO’s group director of business development, emphasized the importance of the fisheries sector to Oman’s economy, stating, “Through FDO’s strategic investments and initiatives, we aim to enhance Oman’s standing in international fisheries markets while unlocking untapped potential for aquaculture development.”
New Opportunities
Shane Hunter, CEO of AquaBioTech Group, praised FDO’s commitment to aquaculture, saying, “FDO’s ambitions for Oman’s aquaculture sector are both bold and attainable, and through this partnership, we are dedicated to realizing these goals.”
FDO is exploring additional investments in areas such as:
- Land-based recirculating aquaculture systems (RAS) for species like salmon, grouper, and European seabass
- Tuna penning/ranching
- Kingfish (seriola) farming
- Fish and shrimp feed production
- Microalgae and macro-algae production
- Broodstock development for various species
- Sea cucumber, mussel, abalone, and oyster farming
- Ornamental fish and coral propagation
- Bioprospecting marine molecules for new applications
These initiatives aim to further diversify Oman’s fisheries sector, making it more resilient and sustainable for the future.
