Maharlika Fund to support Clark investments

The Maharlika Investment Corporation (MIC) is set to delve into investment prospects for the major infrastructure and development projects of Clark International Airport Corp. (CIAC) in Clark Freeport, according to a report by Manila Bulletin.

In a statement, Special Assistant to the President (SAP) for Investment and Economic Affairs, Secretary Frederick Go, said that food and agriculture will be among the key industries targeted for MIC’s investment.

On Friday, Aug. 9, MIC President and Chief Executive Officer Rafael Consing, Jr., and CIAC President and Chief Executive Officer Arrey Perez signed a Memorandum of Understanding (MOU) with the presence of Go, solidifying their collaboration.

“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.

He added that they support CIAC in its flagship infrastructure projects that would accelerate the development of the airport and its surrounding areas.

CIAC’s seven flagship projects seek to contribute to developing priority industries under the Marcos administration. 

“In empowering the aviation industry, we drive growth in food and agriculture, transportation and mobility, and tourism and MICE (meetings, incentives, conferences, and exhibitions),” Perez said.

“There is latent growth potential in these industries, and a partnership with our country’s sovereign wealth fund will infuse the much-needed financial backing to boost these contributions to developing the Luzon Economic Corridor,” he added.

Perez named the CIAC’s seven flagship projects as the National Food Hub, the World Convention and Events Hub, Urban Renewal and Heritage Conservation Project, Direct Access Link to the Clark International Airport, the New CIAC Headquarters, Upgrading of Road Network and Facilities, and the Detailed Site Development Plan of the Second Runway.

The MOU is intended for collaborative funding and efforts for the development in one of these seven projects, namely the National Food Hub.

“We hope for our projects to contribute to three key areas of development: the Clark National Food Hub will bolster agrologistics as support to robust agricultural production; the Clark World Convention Center and Events Hub will position Clark as a business tourism destination in the Southeast Asian Region; and the Urban Renewal and Heritage Conservation Project will be a showcase of environmental sustainability in developing resilient and future-proof tourism infrastructures,” Perez added.

“The partnership between Clark International Airport Corporation (CIAC) and Maharlika Investment Corporation marks a pivotal moment in the evolution of Clark as a premier airport hub. This strategic collaboration on key development projects will not only unlock the immense potential within Clark but also propel the growth of the entire Luzon corridor, fostering connectivity, trade, and tourism,” Consing said.