The Maharlika Investment Corp. (MIC) is eyeing a strategic partnership with Dubai Ports (DP) World to develop logistics infrastructure across the Philippines, according to MIC President and CEO Rafael Jose Consing Jr.
Speaking at the “Doing Business with the Philippines” event held in Taguig City on Tuesday, Consing confirmed that MIC recently signed a memorandum of understanding (MOU) with DP World to explore opportunities to boost the country’s port and logistics capabilities.
The MOU was signed on May 2 at Malacañan Palace, witnessed by President Ferdinand R. Marcos Jr., and is part of efforts to strengthen ties with the United Arab Emirates in infrastructure development.
“Basically, we’re just exploring opportunities to develop logistics across the country. It’s very preliminary and it’s going to be very logistics-focused,” Consing said.
He noted that the partnership with DP World could be included in MIC’s PHP10-billion investment pipeline for 2025, as the fund seeks to back high-impact infrastructure projects.
“As an archipelagic country, logistics plays a critical role in reducing the cost of goods. Investing in our logistics platform is essential,” Consing added.
Aside from logistics, MIC is also eyeing investments in healthcare and energy transmission, sectors seen as vital to long-term economic growth.
In addition, Consing said MIC expects to remit higher dividends to the national government this year, after contributing PHP1.4 billion to public coffers in 2024.
