Maharlika Investment Corp. (MIC) signed an agreement with Thailand’s Charoen Pokphand Group Co. Ltd. (CP Group) to invest $1 billion in agri-food modernization, digital and e-commerce growth, sustainable energy and infrastructure.
The memorandum of understanding, signed Feb. 8, 2025, calls for MIC and CP Group to establish a private equity fund for investments in various sectors.
“This partnership will lay the groundwork for a multi-sectoral investment initiative that will drive long-term economic growth while reinforcing the Philippines’ position as a premier investment destination,” said MIC president and chief executive Rafael Consing Jr.
President Ferdinand Marcos Jr. witnessed the signing ceremony at Malacañang. Consing and CP Group chairperson Soopakij Chearavanont signed the agreement.
The MOU formalizes the strategic partnership between MIC and CP Group, focusing on agri-food modernization, digital and e-commerce expansion, sustainable energy and infrastructure. It aims to strengthen food security and agricultural value chains, accelerate digital transformation and fintech adoption, and scale up renewable energy and green initiatives in the Philippines.
A steering committee will oversee project selection, fund structuring and investor engagement, MIC said. The first capital close is expected within nine to 12 months.
The Maharlika Investment Fund, established by Republic Act 11954, is the Philippines’ sovereign wealth fund. It is mandated to generate sustainable long-term returns to support national economic priorities.
MIC signed an agreement with Synergy Grid and Development Philippines Inc. to acquire a 20-percent stake in the National Grid Corporation of the Philippines.
CP Group, founded in 1921, is one of Asia’s largest multinational conglomerates, operating in at least 30 countries with a focus on agriculture, food production and retail.