Maharlika Investment Corp. (MIC) and Clark International Airport Corp. (CIAC) signed a partnership agreement to explore investments in Clark National Food Hub and other projects.
The collaboration aims to boost several key projects identified by CIAC, including a national food hub, a world convention and events center and urban renewal initiatives.
These projects are aligned with the government’s priority sectors of food and agriculture, tourism and infrastructure development.
“The partnership between Clark International Airport Corp. and Maharlika Investment Corp. marks a pivotal moment in the evolution of Clark as a premier airport hub,” MIC president and chief executive Rafael Consing Jr. said.
“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,” he said.
Secretary Frederick Go, Special Assistant to the President (SAP) for Investment and Economic Affairs, identified food and agriculture among 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 president and chief executive Arrey Perez said its 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.
“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 said.
Republic Act No. 11954, or 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).
