OCCI Committee Highlights Agricultural Insurance: What It Means for Your Business and Investment in Oman’s Farming Sector
MUSCAT – The Food Security Committee of the Oman Chamber of Commerce and Industry (OCCI) held a meeting to address the critical role of agricultural insurance amid challenges posed by climatic conditions and epidemics, which threaten agricultural activities. The committee emphasized the necessity of developing tailored insurance products with flexible terms to protect farmers, ensure the continuity and sustainability of agricultural production, and enhance national food security.
The session, chaired by Eng. Saleh bin Mohammed Al Shanfari, Committee Chairman, took place at the Chamber’s headquarters in Muscat and included the participation of several committee members.
During the meeting, the committee recommended organizing a specialized seminar on agricultural insurance in collaboration with relevant stakeholders. Additionally, they proposed holding a public session focused on entrepreneurship within the agricultural sector. The committee also reviewed various agricultural insurance models, highlighting the role of food and agricultural associations in facilitating insurance procedures and supporting the establishment of effective compensation mechanisms.
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The OCCI food security committee’s focus on developing flexible agricultural insurance products highlights a strategic move to mitigate risks from climate change and epidemics, which pose major threats to Oman’s agricultural sector. For businesses and investors, this presents a timely opportunity to innovate insurance solutions and support sustainability in farming, ensuring long-term food security. Smart entrepreneurs should consider collaborations in agri-insurance and leverage upcoming government-backed initiatives to strengthen resilience and tap into a growing market.
