Fisheries Development Oman (FDO), the fisheries investment branch of Oman Investment Authority (OIA), has signed an advisory agreement with Malta-based AquaBioTech Group, an internationally recognized expert in aquaculture and marine consulting. The contract focuses on advancing Oman’s sustainable aquaculture and fisheries sectors, with AquaBioTech Group providing comprehensive guidance on strategy and technical assessments.
Under the agreement, AquaBioTech Group will support FDO with a range of consulting services, including business strategy development and technical due diligence to foster robust growth across Oman’s aquaculture and fisheries initiatives. With a substantial funding allocation of $1.2 billion from the Omani government, FDO is poised to co-invest in a variety of aquaculture and biotechnology projects nationwide.
Current initiatives include significant investments in strategic aquaculture operations, such as seabream cage farming with Blue Water LLC, shrimp farms in Al Sharqiayah South Governorate, and developing Duqm’s fishing port. These projects are instrumental in advancing Oman’s position in global seafood markets, says Badar Said al Naabi, FDO’s Business Development Director, underscoring the critical role of the fisheries sector in Oman’s economy.
Shane A. Hunter, CEO of AquaBioTech Group, expressed excitement over the partnership, noting the alignment with Oman’s bold ambitions for the sector. He highlighted AquaBioTech’s commitment to supporting FDO in unlocking new market opportunities within Oman’s growing aquaculture industry.
FDO’s portfolio under consideration covers diverse areas such as fish and shrimp feed production, mussel farming, microalgae cultivation, abalone farming, macroalgae and seaweed cultivation, tuna ranching, and land-based recirculating aquaculture systems (RAS) for species like salmon, European seabass, and grouper. This broad focus reflects Oman’s intention to lead in sustainable aquaculture, leveraging these investments to elevate both the economy and the environment.
