Muscat – A memorandum of understanding (MoU) was signed on Monday night to establish small enterprises specialised in sea fishing and provide funding for their projects.

The MoU was inked by the Authority for Small and Medium Enterprises Development (ASMED), Oman Fisheries Development Group and the Ministry of Labour.

The MoU also provides for empowering the owners of the enterprises through training, which includes mastering technical skills.

The MoU also aims to enable the owners to keep pace with labour market developments, achieve growth and sustainability for their businesses and find investment.

ASMED will explore opportunities to localise the supply chain and enhance the local added value of the enterprises’ products.

Acting in partnership with the parties supporting the initiative, the Ministry of Agriculture, Fisheries and Water Resources will facilitate the beneficiaries with appropriate fishing licences. It will also oversee training programmes to ensure optimum system integration.

The MoU was signed by Halima Rashid al Zar’ee, Chairperson of ASMED, H E Salem Musallam al Busaidi, Undersecretary of the Ministry of Labour for Human Resources Development, and Eng Nabil Salem al Bimani, CEO at Oman Fish Development Group.