Maharlika CEO identifies key investment pillars

Rafael Jose Consing Jr., the newly appointed President and CEO of Maharlika Investment Corp. (MIC), outlined four key areas where the sovereign fund intends to allocate its resources.

Consing highlighted tourism infrastructure, agricultural urbanism, energy, and information and communications technology (ICT) as the four primary investment pillars for the fund. In a press briefing held in Taguig City, he emphasized their focus on generating employment and promoting socioeconomic development in the Philippines.

Specifically, Consing expressed interest in directing the Maharlika Investment Fund (MIF) towards government infrastructure flagship projects (IFPs), notably the 38 projects falling under public-private partnerships (PPPs).

Within the realm of tourism infrastructure, he highlighted the importance of four key airport projects: the New Manila International Airport in Bulacan, the Ninoy Aquino International Airport rehabilitation, the Laoag International Airport Development Project, and the Laguindingan Airport upgrade.

Regarding energy initiatives, Consing pointed out the rehabilitation of two significant hydropower projects—Agus-Pulangi and Caliraya-Botocan-Kalayaan plants.

While emphasizing the prioritization of food security in agri-urbanization projects, specific ICT ventures earmarked for investment by the MIF have yet to be mentioned.

Consing underscored the role of the MIF as a catalyst for accelerating the implementation of these IFPs through its investments.

In a bid to attract investors, MIC plans to conduct follow-up roadshows in countries where potential investors have shown initial interest in channeling their assets into the Fund, as confirmed during President Ferdinand R. Marcos Jr.'s recent trip to Saudi Arabia. These prospective investments are seen as pivotal in funding critical national projects and driving socioeconomic advancement.

Consing revealed that the current available capital is slightly over PHP100 billion, including the partial contribution from the Bangko Sentral ng Pilipinas (BSP). He aims to utilize this seed capital to attract more foreign investments.

Regarding the management team, Consing aims to form the MIC team within one to two months. He stressed the importance of recruiting individuals with world-class professionalism, integrity, intelligence, initiative, and a commitment to transparency as guiding principles in assembling the management team.