-
The Clark International Airport Corporation and the Maharlika Investment Corp. signed a memorandum of understanding to explore opportunities for major infrastructure and development projects in Clark
-
The MOU aims to facilitate joint funding and development efforts for priority industries within the Clark aviation complex and contribute to the growth of the Luzon Economic Corridor
-
The collaboration focuses on the development of the National Food Hub, including six additional flagship projects identified by CIAC for potential collaboration with MIC
Government aviation firm Clark International Airport Corporation (CIAC) and the Maharlika Investment Corporation (MIC) on August 9 signed a memorandum of understanding (MOU) to explore investment opportunities for the CIAC’s major infrastructure and development projects in Clark.
CIAC president and chief executive officer (CEO) Arrey Perez and MIC president and CEO Rafael Consing, Jr. signed the MOU in the presence of Secretary Frederick Go, Special Assistant to the President for Investment and Economic Affairs (SAPIEA).
The MOU aims to facilitate collaborative funding and development efforts for priority industries within the Clark aviation complex and contribute to the growth of the Luzon Economic Corridor.
Particularly, the collaboration focuses on the development of the Clark National Food Hub.
The National Food Hub will be an agriculture trading hub inside the Clark Civil Aviation Complex—operated by CIAC—that will support the national government’s vision to make the Philippines a leading agricultural resource hub in the region and the world.
Go has identified food and agriculture as one of 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,” Go stated.
“We likewise support CIAC in its flagship infrastructure projects that would accelerate the development of the airport and its surrounding areas,” he added.
Aside from the National Food Hub, Perez identified six additional flagship projects identified by CIAC for collaboration with MIC, as follows:
-
-
- 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.
-
“CIAC’s 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),” Perez said.
“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,” he added.
The CIAC chief expects that these seven flagship projects will contribute to three key areas of development, namely: agrologistics as support to robust agriculture production with the National Food Hub; regional business tourism with the World Convention Center and Events Hub; and environmental sustainability with the Urban Renewal and Heritage Conservation Project in developing resilient and future-proof tourism infrastructures.
“The partnership between CIAC and Maharlika Investment Corporation 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,” said MIC chief executive Consing.
The MOU signing was also witnessed by CIAC officials Nancy Paglinawan, chief finance officer; Brando Aguilera, chief operating officer; Rusty Quizon, chief legal counsel; and Melissa Feliciano, chief strategic urban planner, along with the agency’s directors Dante Ang II and Rommel Santiago.
Republic Act No. 11954, otherwise known as 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 on investments.
