Philippine, Omani Ecozones Start Talks on Investment Corridors

The Philippine Economic Zone Authority has begun talks with Oman’s Public Authority for Special Economic Zones to support investment flows between Southeast Asia and GCC countries in sectors such as food, pharmaceuticals and the circular economy.

The meetings took place following Oman-Philippines Strategic Majlis in Manila, a government-and-business forum where the foreign ministers of both countries announced plans to fast-track agreements on investment promotion and avoidance of double taxation to facilitate bilateral cooperation.

The Omani delegation included representatives of SOHAR Port and Freezone, one of the Middle East’s largest integrated deep-sea ports. Located on Oman’s northern coast, it provides vessels with access without the need to transit the Strait of Hormuz.

“Located outside the Strait of Hormuz, SOHAR provides access to the Indian Ocean and is positioned as a logistics and industrial hub supported by port facilities, freezone infrastructure, and connections to regional markets,” PEZA said in a statement on Tuesday.

“Among the potential areas identified for stronger collaboration are food manufacturing, pharmaceuticals and consumer health, plastics and circular economy, and high-tech and electronics.”

PEZA and OPAZ are planning an agreement on joint promotion to “strengthen trade between Oman and the Philippines using each other’s ecozones as platforms for connecting businesses and encouraging greater investment flows,” PEZA said.

“With the Philippines offering a strategic base for Southeast Asian operations and Oman providing a gateway to the GCC, Middle East, Africa, and surrounding markets, the meeting highlighted the potential for stronger investment corridors and greater participation of businesses from both countries in each other’s markets.”

The Philippines wants the Oman partnership to serve as a link between the Association of Southeast Asian Nations and the GCC.

Foreign Secretary Theresa Lazaro said during the Oman-Philippines Strategic Majlis that by strengthening their maritime links, air connectivity and logistics, the two countries could position themselves as “primary trade and distribution hubs” for both regions.

“Oman serves as a stable strategic gateway to the GCC and the broader Middle Eastern market. Concurrently, the Philippines, situated in the heart of the Indo-Pacific, offers direct access to the 680 million-strong ASEAN single markets,” she said.

“By strengthening our maritime links, air connectivity and logistics integration, we can establish direct economic corridors connecting the GCC and Southeast Asia.”