Fishery and aquaculture are among themost ancient and important sectors of Oman economy, withdeep cultural and social significance. Before oil wasdiscovered in the 1960s, 80 percent of the population livedfrom agriculture and fishing. However currently fishing isnot economically productive. Many fishers are not involvedfull time in fishing, and despite significant subsidies,remuneration is often low. There is a need to improveeconomic management of the fisheries sector and createviable and sustainable employment opportunities. As astarting point, the Sultanate engaged the World Bank toassist in its effort to overhaul the fisheries sector, andhelp devise a plan for increasing the contribution thatfisheries make to Oman's economy. This review offers asummary of the collaborative efforts involving the Ministryof Agriculture and Fisheries Wealth (MAFW), the World Bank(WB), and fishery stakeholders. Collaborative work laidrigorous groundwork for the development and implementationof the Fisheries and Aquaculture Vision 2040: "Tocreate a profitable world-class sector that is ecologicallysustainable and a net contributor to Oman’s economy."Vision 2040 and an accompanying Implementation Planestablishes a framework and processes to achieve thesegoals. The preparatory work has produced the Sultanate ofOman Fisheries and Aquaculture Vision 2040; theImplementation Plan of the Fisheries and Aquaculture Vision;and a proposed investment project document. The next stageincludes implementation of the pilot investment project andtechnical support, as well as stakeholder co-management offour pilot fisheries. This strategy points to a betterfuture in fishing higher-value species. Phase II, the firstfive years of implementing Vision 2040, will establish thepolicy and capacity for executing global best practices inthe fisheries through organizational development, businessdevelopment and management training, as well as planning fornew institutions built around key players.
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