Oman recently unveiled a new investment drive to transform its fisheries sector into an integrated, value-added manufacturing industry. The initiative underscores the government’s push to deepen industrial activity around natural resources while strengthening food security and export capacity.
Pioneering Integrated Model Is Fully Aligned With Oman Vision 2040
It is designed to position the Sultanate as a regional hub for advanced fisheries and fishing industries. Promoted by the Ministry of Agriculture, Fisheries and Water Resources (MAFWR), it is fully aligned with Oman Vision 2040. Furthermore, it is coordinated with the Public Authority for Special Economic Zones and Free Zones (OPAZ). The Duqm Fisheries Industrial Zone has been selected as the focal point for the new wave of fisheries-related investments. Accordingly, investment opportunities are being offered combining processing facilities with guaranteed access to raw materials and regulated fishing licences. This integrated model is intended to reduce supply-chain risk, ensure consistent throughput for factories and encourage long-term capital investment.
Attractive Investor Incentive Packages Available
A key attraction for investors lies in the scale of resource access on offer. Fishing licences come with annual quotas ranging from 6,000 to 30,000 tonnes, providing the volume certainty needed for industrial-scale processing. Additionally, the initiatives incentive package is equally robust. Investors will benefit from income tax exemptions for an initial period of 10 years, which is potentially renewable twice. Customs duties will be waived on imports and re-exports, factory equipment will enjoy tax exemptions, significantly reducing upfront capital costs. Operational incentives further strengthen the investment case. Projects will enjoy a special electricity tariff designated for food security activities, alongside technical and operational support from relevant authorities. Additionally, investors will be granted land use rights for up to 50 years potentially renewable.
The application window for interested investors is available now and will run until February 20, 2026.
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