MIC president says no foreign investment yet in PH sovereign fund

Maharlika Investment Corporation (MIC) president Rafael Consing Jr. stated that no foreign firm has invested in the Philippines' sovereign wealth fund yet, as they are prioritizing building credibility first.

Consing mentioned that there are already foreign investors interested in the MIC and expressed optimism that by the end of the year, MIC will secure three to four significant foreign investments.

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).

President Ferdinand "Bongbong" Marcos Jr. has actively promoted the Maharlika Investment Fund during his foreign trips, though no investors have directly come from these trips yet.

The Maharlika Investment Fund Act of 2023, signed into law by Marcos, established the MIC to manage the fund, which is intended for investment in high-impact projects, real estate, and financial instruments.