The Philippine Chamber of Commerce and Industry (PCCI) welcomes the pronouncement of Maharlika Investment Corp, (MIC) president and chief executive officer Rafael Consing to use the Maharlika Investment Fund (MIF) for national development.
According to PCCI president Enunina Mangio, the MIF is in the “best position” to invest in projects that support economic and social development to fulfil priorities under the Philippine Development Plan (PDP).
Mangio specifically cited energy, water, transportation, and ICT infrastructure projects which are capital-intensive but critical to the productivity of enterprises and industries, as well the country’s sustained growth.
“Several parts of the country have been facing severe shortages in electricity, and there have been questions on where to get power supply that are reliable enough for our growing economy,” she said.
The PCCI, she added, supports the MIF’s blueprint to include energy security and urged government to decisively act on pending power development projects.
Mangio likewise cited the need to develop and better manage the country’s water systems to ensure that water resources including rains and wastewater are appropriately collected, recycled and harnessed for residential, agricultural, commercial and industrial uses.
Transportation and ICT projects, especially those that connect agricultural lands and areas with great tourism potential to urban centers, would drive productivity and job generation in rural areas, Mangio added.
“Investing in critical sectors drive agriculture and industrial innovation and other important businesses or projects that can enhance efficiency and improve the agriculture and industrial structure, in line with the PDP. The MIF is in the best place to achieve these having the mandate of President Marcos himself,” she said.