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FDO

OMAN - Industry

Nabil Al Bimani

CEO, Fisheries Development Oman (FDO)

Bio

Nabil Al Bimani has over 24 years of experience in engineering, logistics, project management, and related industry sectors and has a master’s in civil engineering from Sultan Qaboos University. Prior to his current position at FDO, Al Bimani was group chief asset manager at ASYAD Group. Moreover, he held several senior positions in the oil and gas and logistics sectors, including group chief-ports and free zones officer at ASYAD Group. He was previously the executive director of Oman Logistics Center, project manager at Oman Rail Company, and worked in the projects and contracts line at Petroleum Development Oman.

"As the Sultanate of Oman’s national fisheries company, FDO was established to develop sustainable commercial aquaculture and fisheries by investing in local and international opportunities. Since then, FDO has played a pioneering role in the sector."
FDO was established with a broad mandate to boost sustainable, commercial aquaculture and fisheries in Oman and it has big plans to build on the growth it has already achieved.
FDO was established as the Sultanate’s national fisheries company to develop sustainable commercial fishing and aquaculture. How has the company evolved since its inception?

As the Sultanate of Oman’s national fisheries company, FDO was established to develop sustainable commercial aquaculture and fisheries by investing in local and international opportunities. Since then, FDO has played a pioneering role in the sector. More recently, FDO singed the Duqm Fishery Port Usufruct Agreement in cooperation with our partners. This cooperation with our partners entails managing, developing, and operating the largest fishing port in the Sultanate, which links together many fishing and fishing-related activities.

How can Oman become a strong international player in the industry and hold a leadership position in fish exports?

FDO Group, which is Oman Investment Authorities’ investment arm in the fisheries sector, was established with a view to developing this key sector in the Sultanate by investing in profitable projects that could highlight its economic value to investors. The group, therefore, seeks to explore and invest in local and international opportunities and demonstrate the sector’s profitability and sustainability at a global scale, while utilizing the Sultanate’s of Oman competitiveness in global markets. Within this framework, Oman seeks to become a strong international player in the industry, and to hold a leadership position in fish exports. Moreover, with its 3,000km+ coastline, easy access to GCC and global markets, and the potential for significant increases in production of higher-value species, there is significant growth potential for Oman’s fisheries industry. FDO’s subsidiaries are all playing a vital role in contributing toward increasing the amount of commercial fishing landing in Oman, and together with the development of Oman’s ports, harbors, fishing infrastructure, and human capital in the fishing and aquaculture industry, the Sultanate plans to further enhance its status as a leading international fish exporter. It should also be mentioned that the Environment and Natural Resources priority outlined in Oman’s Vision 2040 strategy aims to establish effective, balanced, and resilient ecosystems to protect the environment and ensure sustainability of natural resources to support the national economy. Within this context, the Sultanate of Oman has an opportunity to further enhance its position internationally as a hub for environmentally sustainable fishing and aquaculture practices.

Sustainability and green practices are some of the hot topics across all sectors in the global business sphere. Which protocols is the company following in terms of its sustainable fishing practices?

The Sultanate of Oman was among the world nations at the United Nations’ Summit in September 2015 to recognize and adopt the UN’s Sustainable Development Goals (SDG). As a result, FDO’s operations today encompass a number of these SDGs with regards to achieving environmental sustainability through responsible aquaculture and production practices. Our operations include building resilient infrastructure, promoting sustainable industrialization, and fostering innovation. Furthermore, we are ensuring sustainable consumption and sustainable production patterns, taking action to combat climate change, and playing a significant role in the protection and conservation of Oman’s marine ecosystems.

What are the main priorities in your agenda in the short term?

The company strategy for 2022-2026 is built around three key pillars: enhancement of infrastructure, diversification of our investment product portfolio, and maximizing financial yield. FDO has identified several investment opportunities for the expansion of its commercial fishing fleet, the aquaculture of new species of Omani sea creatures, and the production of fishery value-added products. The company is conducting a number of feasibility studies to identify the profitability of these projects and, once confirmed, will move forward by attracting local and international investors. Collectively, the FDO Group projects are aimed at the sustainable, competitive development of the fish farming sector, the promotion of in-country value, as well as the active contribution to the exploitation of the considerable available potential for the development of fisheries. Furthermore, we seek to fulfil the nation’s food security needs as a vital prerequisite, along with creating job opportunities through the diversification of the production systems through which safe, nutrient-rich, affordable fish farming products can be launched, as well as the maintenance and assurance of environmental sustainability, which is necessary for the future growth of the sector.

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