Oman blue economy is gaining momentum because the country leverages its strategic coastal location. The Sultanate sits at the southeastern tip of the Arabian Peninsula. It overlooks the Indian Ocean, Arabian Sea, and Arabian Gulf. Therefore, this geography gives Oman a natural advantage in maritime trade, fisheries, and marine industries.
Moreover, Oman benefits from rich marine resources, skilled human capital, and a deep maritime heritage. In addition, growing infrastructure, safety systems, and supportive laws strengthen investment opportunities. Together, these factors create a foundation for long-term blue economy growth.
Between 2018 and 2022, the Oman Chamber of Commerce and Industry led an initiative to organize fishermen associations. This program followed the Water Resources Protection Law and collaborated with the Development Bank, Financial Services Authority, relevant ministries, and the Royal Oman Police Coast Guard.
As a result, the initiative produced several outcomes. It created a unified insurance policy for artisanal fishing boats and offered personal accident coverage for fishermen. Furthermore, operation manuals were developed to standardize safety procedures. Consequently, insurance protection improved, governance strengthened, and sectoral discipline increased.
Looking ahead, Oman plans to enhance institutional integration. First, professional fishermen associations will be established in all governorates. Second, centralized marketing companies will improve quality and add value. Third, specialized financing and insurance mechanisms will ensure sustainability. These steps aim to make the sector more efficient and productive.
Additionally, Oman is considering a Central Commodity Market modeled after the Muscat Stock Exchange. This market would provide a transparent platform for trading marine and agricultural products. It would create fair pricing, stabilize markets, reduce reliance on intermediaries, enhance food security, and attract regional investments. Consequently, it would boost the blue economy’s contribution to GDP.
Overall, Oman blue economy growth depends on three pillars: strong legislation, professional organizations, and a transparent market. When these pillars align, marine resources transform into strategic economic assets. They benefit Oman, the GCC, and the wider Arabian Peninsula.
