Increasing the Resilience of the Food Systems
In Islamic States in Face of Future Food Crises
118
Government Key legislation and financial support
The Ministry of Agriculture governs and inspects all imported unprocessed agricultural goods
entering OmanwhileMinistry of Health inspects semi- and fully- processed foods467. Moreover,
all the entities pertaining to food security and their financial allocations are declared by national
royal decrees. The Royal Decree No. 62/80 aimed at establishing the PublicAuthority for Stores
and Food Reserve (PASFR) in Oman.468 PASFR plays a critical role in maintaining strategic
stockpiles of items in multiple locations in Oman. 469 The Royal Decree No. 48/2004 aimed at
setting up the Agriculture and Fisheries Developmental Fund.
Public spending on agriculture, forestry and fishing reached $161.3million in 2014, 0.19%470 of
GDP for that year. Agriculture and related spending of $161.3million in 2014was almost twice
than $85.9 million in 2010, highlighting the importance the government has placed on the
agriculture sector in the last decade471. Additionally, $139.3millionworth of commercial credit
was given to the agriculture and related sectors in 2014.472 In the table below are projects and
investment opportunities pursued for the development of the agriculture and fisheries sectors
in Oman.
Table 61: Estimated investment Cost of Projects & Investment Opportunities473
Projects and investment opportunities Estimated Cost (USD) (million)
Agricultural Sector (Crop Production) 319
Agricultural Sector (Livestock) 806
Fisheries Sector 800
Joint Projects (Agricultural & Fisheries) 135
Total 2060
Source: Agriculture and Fisheries Food Investment Forum
Understanding the business enabling ecosystem in Oman
Oman ranks 78 on the Ease of Doing Business Ranking 2019with an overall score of 67.19, a
nominal decrease of -0.02 474. Oman increased the corporate income tax rate and scrapped the
tax exemption on the initial USD 78,000 of taxable profits475. However, Oman ranked 37 on the
Starting a Business ranking 2019.
467 USDS websit
468 FAOwebsite.
469 “Food and water security to 2025 in Oman”. Future Directions, 2018.
470 Country economy.comwebsite
“Domestic production has a growing contribution to reducing imports”. Oxford business Group, 2018.
imports.
472 “Domestic production has a growing contributionto reducing imports”. Oxford business Group, 2018.
imports
473 “Prospects and opportunitiesin Oman Fisheries and Agriculture”. Agriculture and FisheriesFood Investment Forum,
2019.
474 World Bank Website.
Reports/English/DB2019-report_web-version.pdf
475 Ibid.