INMECC-OCCI seminar explores challenges and opportunities in fisheries sector

by | Dec 11, 2023 | 0 comments

MUSCAT – The Indo Gulf Middle East Chamber of Commerce (Oman Chapter), in collaboration with The Oman Chamber of Commerce and Industry’s (OCCI) Foreign Investment Committee, hosted a seminar yesterday at the Muscat Hall of OCCI in Ruwi.

The event, held under the esteemed patronage of Sheikh Faisal Al Rawas, Chairman of OCCI, brought together industry experts, government officials, and business leaders to discuss the challenges and opportunities in the Oman Fisheries Sector. Experts opined that the value addition in the sector is less than 15 percent whereas this can be increased to more than 70 or even 80 percent.

The seminar, aimed at fostering dialogue and collaboration within the fisheries industry, featured a distinguished line-up of speakers and addressed key aspects of the sector. Notable figures present included Amit Narang, Ambassador of India, who graced the event as the guest of honour. Fuad Jaffar – Ex minister of agriculture and fisheries, and Principal Secretary – Industries, Govt of Kerala, India Mohammed Hanish IAS were also present.

The welcome address was delivered by Davis Kallukaran, one of the founding directors of INMECC. He said the contribution of the fishing sector to Oman’s GDP is only 2.5 per cent which is very low compared to the global average. Value addition or ICV can make a big difference to this contribution although the vision 2040 has targeted 10 per cent by 2040 and with an equal push by the private sector, these targets can be achieved much earlier.

Sheikh Faisal Al Rawas, Chairman of OCCI, addressed the audience, highlighting the importance of the fisheries sector in Oman’s economic landscape. Amit Narang, Ambassador of India to Oman, shared his thoughts on the bilateral relations and collaboration opportunities between India and Oman in the fisheries sector. Abdul Latheef, Chairman of OCCI Foreign Investment Committee, addressed the gathering, emphasising the significance of foreign investment in the sector. This was followed by the keynote address by Dr N.M. Sharafudeen, Chairman of INMECC, who shared insights providing valuable perspectives on the challenges and opportunities within the fisheries sector.

Mohiyudeen Mohammed Ali Chairman-INMECC (Oman Chapter) provided insights into the challenges and opportunities prevailing in the Oman Fisheries sector. The Invest Oman team delivered a presentation, shedding light on investment opportunities in the fisheries sector.

Mohammed Hanish IAS, Principal Secretary – Industries, Govt of Kerala, India shared perspectives from the Indian government, offering valuable insights into the industry.

Jeevan M D from Samudra Shipyard India presented a proposal on the Muscat Water Metro, providing a tourist’s perspective on the initiative. 

The seminar concluded with a Panel Discussion discussing the opportunities and challenges in the Fisheries Sector

 Dr VMA Hakim moderated the panel discussion featuring panellists, Mohamed Ameen, Warith Al Kharusi, Dr Sherimon, Mohamed Al Lawati, and Eng Redha Bait Faraj (Fisheries Wealth Expert – Ministry of Agriculture, Fisheries and Water Resources).

The seminar concluded with a vote of thanks extended by C.K. Khanna, Secretary of INMECC Oman Chapter, and Shurooq Al Farsi, Coordinator of OCCI FIC, expressing gratitude to all participants for their valuable contributions.

The OCCI Foreign Investment Committee and the Indo Gulf Middle East Chamber of Commerce looks forward to continued collaboration and dialogue to further enhance the growth and sustainability of the Oman Fisheries Sector.

Photos: V K Shafeer

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