MANILA – The Maharlika Investment Corp. (MIC) said its investments will focus on four sectors that demonstrate financial stability and contribute to the betterment of the environment and society as a whole.
In a briefing on Wednesday, Nov. 15, Rafael D. Consing Jr., MIC president and chief executive officer, said the fund will focus on allocating resources to the development of the country’s tourism infrastructure, agro-urbanism, energy security, and digital infrastructure.
In particular, Consing outlined the MIC’s commitment to position the Philippines as a prominent player in the global tourism industry by making substantial investments in state-of-the-art infrastructure.
Consing highlighted the importance of modernizing airports, improving transportation networks, and creating sustainable tourism destinations.
Likewise, he said the MIC plans to integrate agriculture and urban development through agro-urbanism, creating a system that promotes local food production, processing, and consumption.
“This will involve establishing agro-industrial clusters, promoting peri-urban agriculture, and investing in sustainable farming practices,” Consing said.
Furthermore, Consing announced that the fund will take the lead in driving the Philippines’ transition to a sustainable and secure energy future.
This initiative involves investing in renewable energy sources like solar, wind, and geothermal power, as well as developing energy storage solutions and implementing smart grid technologies, the MIC chief said.
Consing also emphasized that the MIC is committed to bridging the digital divide throughout the country, aiming to provide equal access to high-speed internet and digital technologies.
To achieve this, he said the corporation plans to expand broadband networks, promote digital literacy, and foster innovation within the technology sector.
“Through these strategic investments, the MIF will transform the Philippines into a thriving hub of tourism, agriculture, energy, and digital innovation, driving economic prosperity, social progress, and environmental sustainability for generations to come,” Consing said.
Meanwhile, Consing assured that the MIC will assemble a world-class professional management team, prioritizing integrity, intelligence, and initiative in their selection process.
“This means that the MIC will recruit and retain highly qualified and experienced professionals who are committed to ethical and transparent business practices,” he said.
The executive emphasized the importance of rigor, stating that the investment committee will implement a standardized set of processes for making investment decisions, irrespective of industry, investment type, or company classification.
“This means that the MIC will have a well- defined investment process that is applied consistently to all investment opportunities,” he said.
He added that the MIC will prioritize transparency by ensuring that all its decisions and actions are made publicly available and easily comprehensible.
“The MIC will be accountable to the public and will disclose all relevant information about its activities,” Consing said. (MB)
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