Oman eyes Philippine partnerships in food security, energy
MAKATI CITY — Oman is looking to expand investment partnerships with the Philippines, identifying food security, agriculture, the blue economy, renewable energy and technology as priority sectors for future cooperation.
Speaking on the sidelines of the Third Oman–Philippines Forum: Strategic Majlis on Sunday, Omani Foreign Minister Sayyid Badr Hamad Al Busaidi said the two countries' longstanding diplomatic and people-to-people ties have created opportunities to broaden cooperation beyond traditional sectors.
Potential areas include tourism, mining, logistics, transportation, aviation and renewable energy, while emerging industries such as data centers and information technology are also drawing interest.
"From that stems many different avenues for collaboration, for investments, tourism, mining, agriculture, food security, logistics, transportation and aviation. And now we are even exploring the possibility of renewable energy and how we can really benefit each other on that sphere,” he said.
Al Busaidi described Oman as a strategic gateway to markets across the Arabian Peninsula, East Africa, the Indian subcontinent and Central Asia, saying stronger links with the Philippines could improve supply chain resilience amid geopolitical and environmental challenges.
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Food security, agriculture, the blue economy and renewable energy remain the most immediate areas for investment, while technology and data centers also offer strong growth potential, Al Busaidi said.
"I think the ripest or the low-hanging fruit is probably, it's got to be in the food security, agriculture, blue economy and also in the renewable sector of energy and energy transformation."
The two countries are also working toward investment promotion and protection and double taxation agreements, which are expected to encourage cross-border investments and facilitate business activities.
Al Busaidi said Oman is also open to exploring a broader economic partnership or free trade agreement with the Philippines.
The Omani foreign minister likewise credited the Filipino workforce in Oman for helping strengthen business confidence, saying their strong track record has reinforced bilateral ties and could encourage more investments.
Oman is expected to host the fourth Oman–Philippines business forum in Muscat, tentatively scheduled for November.
