NextGen Day

💼🇲🇾 MANILA – Malaysian investors have expressed keen interest in the Maharlika Investment Fund (MIF), the Philippines’ inaugural sovereign wealth fund, President Ferdinand R. Marcos Jr. revealed on Thursday. However, he stressed that Malaysian investors are cautious and want to understand the specifics of the venture before making any investment decisions.

Marcos affirmed that all interested parties had expressed their intent to explore opportunities within the MIF. The fund is designed to spur economic development by leveraging government financial assets.

Responding to concerns about the controversial 1 Malaysian Development Berhad (1MDB), Marcos assured that the MIF would not encounter similar issues. The government guarantees that the fund will be run professionally without undue political influence, with financial managers making investment decisions daily.

The president anticipates over 100,000 new job opportunities for Filipinos following his state visit to Malaysia, which garnered investment pledges amounting to USD 285 million. The agreements would open up job opportunities, particularly during the construction and operational phases of the proposed projects.

During the visit, Marcos met with the Malaysian business community. He discussed possible investments in the Philippines’ food processing industry, multi-service digital platforms, aviation and aviation maintenance support services, logistics, manufacturing, infrastructure, water, and wastewater treatment facilities.

The collaboration agreement between Metro Pacific Investment Corp. (MPIC) and Malaysia’s Hartasuma Sdn. Bhd. was also finalized, which could lead to rail-oriented projects in the Philippines valued at up to PHP 3 billion. This cooperation further highlights the commitment of both countries to improve physical connectivity, including roads, rails, and other transportation options.

Under the collaboration agreement, MPIC and Hartasuma will explore railway engineering and maintenance opportunities and other rail-oriented projects in the Philippines to modernize the country’s railway network.

Metro Pacific Investment Corp. is a publicly-listed investment management holding company interested in various infrastructure and other projects in Southeast Asia. At the same time, Hartasuma is a pioneer in the Malaysian rail industry, providing engineering, assembly, refurbishment, and rehabilitation services for rolling stock and other urban transport solutions.

This state visit marks a significant step towards increased bilateral investment and infrastructure development between the Philippines and Malaysia. 🤝🚄🌏

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