MANILA: 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 Gulf countries in sectors such as food, pharmaceuticals and the circular economy.
The meetings took place following last week’s 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.”
