Cebu-Oman Investment Forum opens with a historic promise of economic partnership
The event marks a significant milestone in the enduring friendship between Oman and the Republic of the Philippines, aiming to transform their longstanding goodwill into a dynamic economic partnership.
In his speech, Sayyid Badr highlighted the deep ties fostered by nearly 50,000 Overseas Filipino Workers (OFWs) who have found a second home in Oman, thriving in an environment of safety, respect, and opportunity.
He emphasized the shared values of modesty, hospitality and tolerance between the Omani and Filipino peoples, which have woven a tapestry of trust and collaboration.
The forum represents a bold new chapter, shifting focus beyond manpower relations to invite business communities and investors from both nations to explore mutual economic opportunities. Oman, strategically located at the crossroads of the Arabian Peninsula, East Africa, and South Asia, offers access to markets serving over two billion consumers.
Through Vision 2040, Oman is driving economic diversification with world-class infrastructure, free trade zones in Duqm, Sohar, and Salalah, and investor incentives including 100% ownership, tax exemptions, a stable currency, and free movement of capital.
Sectors such as renewable energy, logistics, real estate, tourism, food industry, medical care, data centers, technology, AI, and robotics are open for investment, underpinned by Oman's 'friends to all' philosophy and free trade agreements with countries like the United States, Singapore, and the EFTA region.
Similarly, the Philippines' thriving economy, fueled by innovation, a skilled workforce and entrepreneurial spirit, presents exciting prospects for Omani investors in technology, agriculture, infrastructure and hospitality.
Sayyid Badr extended an open invitation to forge robust economic bonds, encouraging joint ventures and expertise exchange to nurture prosperity.
The Foreign Minister called on participants to seize this opportunity to build on the people-to-people connections established by OFWs, laying the foundation for a flourishing economic partnership and a new era of mutual investment.
© Muscat Media Group Provided by SyndiGate Media Inc. (Syndigate.info).
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