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Fisheries a major pillar of economic diversification
By: ONA
Muscat: The fisheries sector figures among the main components of economic diversification resources due to the fact that it is a renewable sector capable of contributing to food security and providing employment opportunities for citizens, besides augmenting the Gross Domestic Product (GDP).
In 2017, the Fisheries Lab announced more than 90 initiatives and projects that covered three basic activities. These include: commercial fishing (firms), artisanal fishing (individual full-time fishermen) and fish farming; fishery industries and exporting.
The initiatives and programmes are expected to achieve a considerable increase to the GDP estimated at OMR556 million, thereby achieving a three-fold rise of the overall contribution of the fisheries sector over 2017 figures to OMR781 million by 2023 and generating an investment value touching OMR1 billion. ....

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