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The Board of Investments announced that Philippine and Omani officials wrapped up talks on the Philippines-Oman Investment Promotion and Protection Agreement during a meeting in Muscat on October 2, 2026. The Philippine delegation was headed by BOI Governor Marjorie O. Ramos-Samaniego while the Omani team was led by Pankaj Khimji, an adviser for foreign trade and international cooperation in the Ministry of Commerce, Industry and Investment Promotion. The BOI said the pact would give investors greater certainty and transparency while shielding them from discriminatory treatment and the agency expects the document to be signed before the end of 2026.
Board of Investments figures show that cumulative Omani investment in the Philippines reached only $140,000 from 2021 through 2025 yet climbed to $800,000 in January 2026 alone, enough to rank the Gulf state as the country’s fifth-largest source of foreign direct investment for that month. The BOI noted that despite the recent uptick overall Omani capital inflows have remained modest relative to the potential that exists in several overlapping sectors. Oman is home to roughly 47,000 overseas Filipino workers according to separate Philippine government tallies that underscore the breadth of existing people-to-people ties.
The Board of Investments listed renewable energy, energy-efficiency technologies, infrastructure, public-private partnership projects, agribusiness, innovation, information technology, oil and gas, processed and specialty foods including halal items, and tourism as the main areas where Omani investors could find opportunities. A BOI assessment found that the agreement would help translate that identified potential into actual projects by reducing perceived risks for foreign capital. The pact builds on momentum generated by bilateral investment forums held in Cebu and Muscat over the preceding 18 months.
According to the Board of Investments the new investment framework could also open the door to discussions on a preferential trade arrangement that would expand market access for goods produced in both countries. The BOI added that such a trade initiative would complement the investment protections once the agreement enters into force. Officials from both sides described the talks as constructive and forward-looking in statements released after the Muscat session.
The Oman Observer reported in July 2026 that the two governments had already been advancing work on investment protection and double-taxation treaties to lower barriers for cross-border business. Omani Foreign Minister Sayyid Badr bin Hamad al Busaidy identified food security, agriculture, the blue economy and renewable energy as sectors offering the most immediate prospects for cooperation. The minister noted that Oman could function as a gateway for Philippine firms seeking entry to Gulf Cooperation Council markets while the Philippines would give Omani investors access to the fast-growing ASEAN region.
Philippine economic officials have maintained that the investment promotion and protection agreement forms part of a longer-term effort to diversify sources of foreign capital beyond traditional partners in East Asia and the United States. The Board of Investments indicated that the pact would support broader economic engagement including possible joint ventures in innovation and technology transfer. Data compiled by the agency suggest that even modest increases in Omani commitments could generate employment in priority sectors where the Philippines is actively seeking fresh capital inflows.
