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The Department of Foreign Affairs announced that negotiators from the Philippines and Oman have completed discussions on the investment promotion and protection agreement along with an avoidance of double taxation pact. The development follows three successive investment forums that have built momentum since the inaugural event in Cebu in 2025. Foreign Secretary Ma. Theresa Lazaro and Omani Foreign Minister Sayyid Badr Albusaidi reviewed the advances during their July meeting in Manila where both expressed optimism that the pacts would be signed in the coming months.
The agreements aim to offer legal safeguards and greater incentives for cross-border investors from both nations. According to the Philippine News Agency the two sides first committed to concluding the investment deals at the second Oman-Cebu Investment Forum held in Muscat in February 2026. That gathering produced newly signed pacts in health and agriculture while identifying further collaboration in tourism food security and critical minerals.
Bilateral trade expanded fivefold in 2025 the Department of Foreign Affairs figures show. Oman hosts a community of approximately 50 000 Filipinos whose contributions to various economic sectors Omani officials have repeatedly praised. The labor ties that have defined relations for decades are now expanding into broader commercial partnerships.
Priority areas for joint work include agriculture fisheries logistics renewable energy and the digital economy a joint ministerial statement indicated. Panel sessions at the forums have examined sustainability initiatives and the strategic positions of both countries as gateways to Southeast Asia and the Gulf. The discussions have also touched on vocational training healthcare and sustainable development goals.
The Philippine Economic Zone Authority and Oman’s Public Authority for Special Economic Zones began separate talks in August on establishing investment corridors Arab News reported. Those meetings identified food manufacturing pharmaceuticals consumer health plastics in the circular economy and high-technology electronics as initial focus sectors. The agencies are preparing a memorandum on joint promotion that would market their zones as complementary platforms for regional business flows.
Finance Department assistant secretary for revenue operations Euvimil Nina Asuncion said the Philippines seeks to conclude the double taxation negotiations within the year. The department has obtained special negotiating authorities and anticipates that pre-negotiation work will allow technical issues to be resolved efficiently once formal rounds begin. Asuncion told reporters that the number of rounds will ultimately depend on both delegations after President Ferdinand Marcos Jr. approves the schedule.
