Maharlika Investment Corp., manager of the country’s first sovereign wealth fund, and Clark International Airport Corp. on Friday signed a memorandum of understanding to explore investment opportunities for major infrastructure projects in Clark.
MIC president and chief executive officer Rafael Consing, Jr., and CIAC president and CEO Arrey Perez signed the deal in an event that was witnessed by Secretary Frederick Go, Special Assistant to the President for Investment and Economic Affairs.
Go said a potential investment that MIC might look into is the proposed National Food Hub of the CIAC.
“We continue to pursue initiatives that contribute to increasing agriculture production, and improving the food logistical chain. The Clark National Food Hub is a step in this direction, and we look forward to its successful establishment as a sustainable food security solution,” Go said in a statement.
“We likewise support CIAC in its flagship infrastructure projects that would accelerate the development of the airport and its surrounding areas,” he added
CIAC’s seven flagship projects also include the World Convention and Events Hub, aimed at enhancing growth in priority industries under the Marcos administration. “A partnership with our country’s sovereign wealth fund will provide the financial backing needed to support these developments and drive growth in the Luzon Economic Corridor,” said CIAC’s Perez.
Consing described the MIC-CIAC partnership as a “strategic collaboration that will unlock Clark’s potential and boost the growth of the entire Luzon corridor, fostering connectivity, trade, and tourism.”
MIC was created as the sole vehicle for mobilizing the Maharlika Investment Fund, whose funds were derived from dividends from government-owned and controlled corporations as well as contributions from government financial institutions such as Land Bank of the Philippines and the Development Bank of the Philippines. It has an authorized capital stock of P500 billion.
