MIC to invest in Clark food hub, other projects

MANILA, Philippines — State-run Maharlika Investment Corp. (MIC) will invest in Clark National Food Hub and other development projects as it aims to help boost local agriculture production and improve the value chain.

MIC and the Clark International Airport Corp. inked a memorandum of understanding (MOU) to explore investment opportunities for CIAC’s development projects in Clark.

In particular, the MOU is intended for collaborative funding and efforts for the development of the Clark National Food Hub.

The national food hub is one of the seven flagship projects of CIAC that seeks to contribute to the development of priority industries of the government.

MIC president and CEO Rafael Consing Jr. said the partnership 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.

Special Assistant to the President for Investment and Economic Affairs Frederick Go, who also witnessed the MOU signing, has identified food and agriculture as one of the priority sectors for investments.

Go said the government continues to pursue initiatives that contribute to increasing agriculture production and improving the food logistical chain.

“The food hub is a step in this direction and is a sustainable food security solution,” Go said.

CIAC president and CEO Arrey Perez  said that empowering the aviation industry also means driving growth in food and agriculture, transportation and mobility and tourism sectors.

Apart from the national food hub, CIAC’s flagship projects include the World Convention and Events Hub, Urban Renewal and Heritage Conservation project, direct access link to the Clark International Airport, new CIAC headquarters, upgrading of road network and facilities and the detailed site development plan of the second runway.