Proceedings of the 5th International Conference on Advanced Research in Management, Economics and Accounting
Year: 2023
DOI:
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Strategic Model for Enhancing Production and Export of Value-added Seafood Products in the Sultanate of Oman
Dr. Mohammed Al Haziazi, Dr. Subrahmanian Muthuraman, Dr. Kabaly P Subramanian, Dr. Sherimon PC, Dr. Yousuf Al Husaini
ABSTRACT:
In the evolving global marketplace, the sea food industry possesses significant potential for economies reliant on marine resources, particularly for countries like the Sultanate of Oman with its extensive coastline and marine heritage Considering increasing global demand for seafood products and the abundant marine resources in the Sultanate of Oman, this paper explores the formulation of a strategic model aimed at amplifying the production and export of value-added seafood products. With an emphasis on bolstering national economic growth and diversification, the study underscores the role of Export Promotion Programmes (EPPs) in optimizing the seafood value chain and fostering international trade relationships.
The primary objective is to develop a comprehensive, sustainable, and adaptable strategic model that addresses the intrinsic challenges and leverages the unique opportunities within Oman’s seafood industry, focusing on value addition and export enhancement.
A mixed-method research approach is employed, combining quantitative data analysis and qualitative insights gathered through interviews and surveys with stakeholders, including seafood producers, exporters, and policymakers, supplemented by extensive literature review and case study analyses.
Preliminary findings suggest a symbiotic relationship between effective Export Promotion Programs (EPP) implementation and increased production and export of value-added seafood products. Identified strategic initiatives include the enhancement of industry competitiveness through technology adoption, capacity building, market access expansion, fostering innovation in value addition and the fostering of public-private partnerships. Furthermore, key enablers such as regulatory frameworks, financial incentives, and infrastructural development, enhancing industry capacities, and leveraging targeted marketing strategies are highlighted as essential components in optimizing the value chain and ensuring the sustainability of the sector. The proposed strategic model serves as a blueprint for policy formulation and strategic decision-making to fortify the Sultanate of Oman’s position in the global seafood market, enrich the national economy, and contribute to the sustainable development of the industry. Additionally, it offers insights and adaptable frameworks that could benefit other nations with similar economic landscapes and industry structures.
keywords: Export Promotion Programmes, Value-added Products, Seafood Industry, Strategic Model, Sultanate of Oman