Minister's speech to Oman-Cebu Investment Forum

The following is the text of the speech delivered by Oman's Foreign Minister Sayyid Badr Albusaidi to the Oman-Cebu Investment forum:

“Good morning and a warm welcome to the inaugural Oman-Cebu Investment Forum.

“It is a real pleasure to be here in this vibrant city of Cebu, to celebrate a new milestone in the enduring friendship between the Sultanate of Oman and the Republic of the Philippines.

“This forum marks a bold new chapter; one that can elevate our longstanding good relations into a dynamic partnership to pursue economic opportunity and mutual prosperity.

“For many decades, Oman has been a popular destination for overseas Filipino workers, who have found not just employment but a second home in our country. Nearly 50,000 of them today thrive in an environment of safety, respect and opportunity, embraced by the Omani people who, with the Filipino people, share a spirit of modesty, hospitality and tolerance.

“Our shared values, rooted in mutual respect and a deep sense of community, have woven a tapestry of trust and collaboration that binds us together.

“Today, we stand at a crossroads of opportunity.

“Beyond the labour relations that have long defined our relations, we now open our arms to the business communities and investors of both our nations.

“Oman, with its strategic location in the North West Indian Ocean, at the crossroads of the Arabian Peninsula, East Africa and South Asia, offers a gateway to markets of over two billion consumers.

“Our Vision 2040 is driving economic diversification, with world class infrastructure, free trade zones at Duqm, Sohar and Salalah, and incentives for foreign investors, including 100% ownership and tax exemptions, stable currency and the free movement of capital and transactions.

“Sectors such as renewable green energy, logistics, real estate and tourism, food industry, medical care, data centres and technology, AI and robotics, are ready for investment, supported by a stable and welcoming environment that reflects Oman’s “friends of all” philosophy.

“Likewise, the Philippines is a land of enormous potential. Your thriving economy, driven by innovation, a skilled workforce, and a dynamic entrepreneurial spirit, offers exciting opportunities for Omani investors.

“From technology and agriculture to infrastructure and hospitality, the Philippines has opportunities for growth, where partnerships can flourish.

“So this forum represents an open invitation, an invitation to think big, to explore, and to invest in each other’s futures.

“Our aim is to forge robust economic bonds between our two countries, where Filipino businesses find a home in Oman’s markets, and Omani enterprises thrive in the Philippines’ vibrant economy.

“Let us create joint ventures, exchange expertise, and nurture prosperity.

“I extend my warmest gratitude to the organisers, our esteemed partners in Cebu, and every guest who has travelled to join us today.

“A special thanks goes to my dear friends, Carlo and Mikaela, whose vision, dedication, and belief in the boundless potential of our two nations have brought this event to life. Without their efforts and commitment, this gathering would simply not have been possible.

“So, let us embrace this moment of opportunity. Together, we can craft a future where the thousands of people to people connections created by the overseas Filipino workers can serve as a foundation for a flourishing economic partnership, and new era of mutual investment.

“I invite you all to seize this opportunity and make it a beautiful and rewarding new chapter in the story of Oman and the Philippines.

“Thank you, and God bless you. “