Maharlika, DP World explore ports investments in the Philippines

Maharlika Investment Corp. (MIC) President and Chief Executive Officer (CEO) Rafael Jose Consing Jr. said the Philippine investment fund is exploring a partnership with Dubai Ports (DP) World to develop ports across the country, according to a report by Philippine News Agency.

Consing said at the "Doing Business with the Philippines" in Taguig City Tuesday that it recently signed a memorandum of understanding (MOU) with DP World to develop the country’s logistics infrastructure.

The Embassy of the United Arab Emirates in the Philippines said the MOU signing was held last May 2 at the Malacañan Palace, witnessed by President Ferdinand R. Marcos Jr.

“Basically, we're just exploring opportunities to develop logistics across the country. It's very preliminary and it's going to be very logistics-focused,” Consing said.

He added that this partnership could add to the PHP10-billion pipeline investments this year, the MIC previously disclosed.

“We're very keen to see where the opportunities are, because after all, we're an archipelago. And we think that one way by which we can, in fact, reduce the cost of goods is by investing in the logistics platform,” the MIC chief said.

Consing said MIC is also looking into investment opportunities in healthcare and energy transmission.

Meanwhile, Consing said MIC is eyeing to remit higher dividends to the national government this year after contributing PHP1.4 billion to the national coffers for 2024.