Oman hosts Oman-Cebu Investment Forum

MUSCAT: The Sultanate of Oman hosted the Oman-Cebu Investment Forum on Monday, with the participation of officials and business sector representatives from both Oman and the Republic of the Philippines.
The forum was held as part of ongoing efforts to strengthen economic and investment relations between the two nations.
The forum was inaugurated under the auspices of Sayyid Badr bin Hamad al Busaidy, Foreign Minister, in the presence of Theresa Lazaro, Secretary of Foreign Affairs of the Republic of the Philippines, and in cooperation with the Oman Chamber of Commerce and Industry.
In his opening remarks, the Foreign Minister emphasised that convening the second edition of the forum reflects the shared commitment of both countries to build upon the outcomes of the inaugural forum held in Cebu City last year.
He noted that the forum serves as an effective platform for expanding cooperation in several vital sectors, including trade, investment, tourism, logistics, renewable energy and education, as well as innovation and modern technologies.
Furthermore, he praised the positive role undertaken by the Philippine community in the Sultanate of Oman, estimated at approximately 50,000 people, and their contributions to various sectors, affirming Oman’s aspiration to enhance partnerships and attract professional competencies for mutual benefit.

For her part, Theresa Lazaro, Secretary of Foreign Affairs of the Republic of the Philippines, underscored the significance of the long-standing bilateral relations between the two countries.
She lauded the vital role of the Philippine community in Oman as a fundamental pillar for fostering trust and joint cooperation. She expressed her country’s desire to elevate the economic partnership with the Sultanate of Oman in the fields of investment, trade, tourism, renewable energy and the maritime economy.
She confirmed the Philippines' readiness to provide an attractive investment environment and invited Omani companies to capitalise on promising opportunities in the Philippines, particularly in light of its current chairmanship of the Association of Southeast Asian Nations (ASEAN).
Eng Hamoud bin Salim al Saadi, Second Vice-Chairman of the Board of Directors of Oman Chamber of Commerce and Industry, explained that the forum reflects the growing development of economic relations between the Sultanate of Oman and the Republic of the Philippines.
He emphasised the private sector's dedication in both countries to enhancing dialogue and building sustainable partnerships that serve common interests.
The forum concluded with a reaffirmation of the commitment to continue strengthening economic and investment cooperation, supporting the role of the private sector, and building on the forum's outcomes to achieve the mutual interests of the two friendly nations. — ONA