No Maharlika investors yet from Marcos’ foreign trips
MANILA, Philippines — There have yet to be any investors directly coming from President Ferdinand Marcos Jr.'s foreign trips, according to Maharlika Investment Corp. (MIC) Chief Rafael Consing Jr. on Tuesday, January 28.
At the start of his term, Marcos was known for frequently traveling abroad in a bid to reintroduce the Philippines to the world. He even promoted the wealth fund at the World Economic Forum in March 2024.
The MIC made its first investment in January 2025, a year and a half after the sovereign wealth fund was created following its enactment into law.
The sovereign wealth fund manager shelled out P19.7 billion to secure two seats in the board of the National Grid Corp. of the Philippines (NGCP).
“Ilan ang nag-invest? Wala pa. We haven't opened ourselves up. So we want to build our credibility first and then we will open further,” Consing said in an ambush interview in Manila.
(How many invested? No one yet. We haven't opened ourselves up. So we want to build our credibility first and then we will open further.)
Consing said they will first focus on their buy-in to the NGCP, followed by other sub-thematic funds.
However, Consing also mentioned that there are already foreign investors interested in the MIC.
He estimated that the company should have a more reputable portfolio by the end of 2025.
Asked if there were other concrete investments in the pipeline, Consing confirmed that there were.
“Intuitively for the year, we will aim for three to four material ones. So there's more to come,” the MIC chief said.
The Maharlika Investment Fund (MIF) has often faced scrutiny from lawmakers and economic experts regarding its viability, especially amid record-high inflation rates and ongoing post-pandemic recovery efforts in the Philippines.
Despite this, the MIF breezed through both chambers of Congress after being certified as urgent by Marcos.
- Latest
- Trending
