The Maharlika Investment Corporation (MIC) and the government aviation firm Clark International Airport Corporation (CIAC) on Friday signed a Memorandum of Understanding (MOU) at the Bonifacio Global City to explore investment opportunities for the CIAC’s major infrastructure and development projects in Clark.
MIC President and Chief Executive Officer Rafael Consing, Jr. and CIAC President and Chief Executive Officer Arrey Perez signed the MOU in the presence of Secretary Frederick Go, Special Assistant to the President (SAP) for Investment and Economic Affairs.
SAP Go has identified food and agriculture as one of the priority industries for investments.
“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. We likewise support CIAC in its flagship infrastructure projects that would accelerate the development of the airport and its surrounding areas.” Go said.
“CIAC’s seven flagship projects seek to contribute to the development of 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). 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,” Perez said.
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.
Officials present from the CIAC were Chief Finance Officer Nancy Paglinawan, Chief Operating Officer Brando Aguilera, Chief Legal Counsel Rusty Quizon, and Melissa Feliciano, the agency’s Chief Strategic Urban Planner, along with CIAC Directors Dante Ang II, and Rommel M. Santiago.
Republic Act No. 11954 otherwise known as the “Maharlika Investment Fund (MIF) Act of 2023,” created the MIC which acts as the sole vehicle for purposes of mobilizing and utilizing the MIF for investment and transactions to generate optimum returns of investments (ROIs).
