pThe Philippine sovereign wealth fund is prioritising energy security and digital connectivity for its first investments./p
Maharlika Investment Corporation president and CEO Rafael Consing Jr said the Maharlika Investment Fund will begin investing in energy security projects in Mindoro and Palawan.
Mr Marcos, in his State of the Nation Address on July 22, cited the urgent need to address power shortages in these disadvantaged areas. Though he did not mention the MIF in his speech, the president said his government is exploring ways to meet the country’s growing electricity demand.the new sovereign wealth fund has an authorised start-up capital of 500 billion pesos and will allow the government to make key investments without acquiring more debt.
Once the improved distribution lines are in place, the Maharlika fund will then focus on providing fast internet connectivity services in Mindoro and Palawan. The Maharlika fund will be making more announcements with concrete details sometime in September, he added.
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