World Bank report hails fish farming in Sultanate

Energy Monday 20/February/2017 19:27 PM
By: Times News Service
World Bank report hails fish farming in Sultanate

Muscat: A report published by the World Bank said that the fisheries sector in the Sultanate is only a few steps away from being competitive on the world level. The senior environment expert at the World Bank said that the fisheries constitute the second biggest natural resource in the Sultanate. She pointed out that the Sultanate's population consumes double the international average of fish.
Sheikh Hassan Al Nabhani, CEO of the Oman Investment Fund said that the fish farming and fisheries sector are among the key sectors of the Sultanate. They have been accorded with due care since the beginning of the Renaissance to ensure sustainable income.
The World Bank report said that about 45,000-50,000 Omanis rely on fishing and its related activities. It also pointed out that if the fisheries resources are well managed, they may provide sustainable and long term source of income and may also contribute to achieving Oman's long term vision and diversifying sources of national income.
As for the job opportunities the fisheries sector can provide, the World Bank expert said that by 2040, the number of Omanis involved in the management and finance of fisheries will increase. She added that the sector will involve Omani youths at competitive rates.