BUSINESS

Phl, Oman wrap up investment relations negotiations

The Philippine-Oman Investment Promotion and Protection Agreement is expected to spur Omani investments into the Philippines as well as pave the way for future economic initiatives, including a possible preferential trade arrangement for greater market access of goods in both countries.

Raffy Ayeng · Oct 3, 2026, 2:42 AM

PHILIPPINE government officials led by Philippine Ambassador to Oman, H.E. Noralyn Jubaira Baja (middle left), and BoI Governor Atty. Marjorie O. Ramos-Samaniego (middle right), and representatives of the Government of the Sultanate of Oman led by Advisor for Foreign Trade and International Cooperation of the Ministry of Commerce, Industry and Investment Promotion, H.E. Pankaj Khimji (eighth from left) and head of the Diplomatic Academy of the Ministry of Foreign Affairs, H.E. Humaid Al‑Maani (fifth from left) pose for posterity following the successful conclusion of the IPPA negotiations. — Photograph courtesy of boi

Investment officials representing Oman and the Philippines have concluded negotiations on the Philippine-Oman Investment Promotion and Protection Agreement (Phl-Oman IPPA), marking a significant milestone in strengthening bilateral investment relations and advancing economic cooperation between the two countries.

The Philippine delegation was led by BoI Governor Atty. Marjorie Ramos-Samaniego, along with Director Elyjean DC Portoza and Atty. Kyla Mari Samson.

A member of the Arab League, Oman is also a founding member of the Gulf Cooperation Council, the political and economic alliance of six Persian Gulf countries including Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, and Kuwait.

Forward-looking framework

According to the Board of Investments (BoI), the agreement inked by Oman and the Philippines establishes a modern, balanced and forward-looking framework for the promotion and protection of investments between the two countries.

The accord includes provisions ensuring fair treatment for investors, protecting them from discriminatory measures, and providing greater certainty and transparency in doing business.

It was also underscored in the agreement that investors from both countries see significant opportunities to expand investment cooperation across such priority sectors as agribusiness, renewable energy, energy efficiency technologies, infrastructure and Public-Private Partnership (PPP) Projects, innovation projects, information technology and business process management, oil and gas, processed and specialty food including Halal food, tourism, and other sectors that support sustainable and inclusive economic growth.

Spur Omani investments into the Philippines

Moreover, the IPPA is expected to spur Omani investments into the Philippines as well as pave the way for future economic initiatives, including a possible preferential trade arrangement for greater market access of goods in both countries.

Following the concluded negotiations, the PH-Oman IPPA is scheduled to be signed within the year.

Philippine Ambassador to Oman, H.E. Noralyn Jubaira Baja underscored that the successful conclusion of the negotiations reflects the deepening partnership between the Philippines and Oman and their shared commitment to enhance cooperation, bilateral economic ties, promote sustainable investment flows, and create new opportunities for businesses and investors in both countries.

Oman is home to some 47,000 Overseas Filipino Workers. Omani investments in the Philippines have been limited, amounting to a total of only $0.14 million between 2021 to 2025. This shifted significantly in January 2026, when it reached $0.80 million, making Oman the fifth-largest source of foreign direct investments in the Philippines for that month.

With the signing of the IPPA, foreign direct investments from Oman are expected to increase.