Clark Airport, Maharlika Ink Pact to Explore Investment Opportunities

State-run Clark International Airport Corporation (CIAC), the operator of the Clark aviation complex in Pampanga, has signed a memorandum of understanding (MOU) with the sovereign wealth fund Maharlika Investment Corp. (MIC) to explore investment opportunities for major infrastructure and development projects in Clark.

The MOU was signed by MIC President and CEO Rafael Consing Jr. and CIAC President and CEO Arrey Perez, with Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go witnessing the event.

Key Projects and Objectives

The agreement focuses on collaborative funding and development efforts for seven flagship projects within the Clark aviation complex. These projects include:

1. National Food Hub: Targeted for development in collaboration with MIC.
2. World Convention and Events Hub
3. Urban Renewal and Heritage Conservation Project
4. Direct Access Link to the Clark International Airport
5. New CIAC Headquarters
6. Upgrading of Road Network and Facilities
7. Detailed Site Development Plan of the Second Runway

Perez emphasized that these projects aim to contribute to the development of priority industries under the Marcos administration. The initiatives are expected to drive growth in food and agriculture, transportation and mobility, tourism, and meetings, incentives, conferences, and exhibitions (MICE).

Strategic Collaboration

“This partnership marks a pivotal moment in the evolution of Clark as a premier airport hub,” Consing said. “The collaboration will unlock immense potential within Clark and propel growth in the entire Luzon corridor, fostering connectivity, trade, and tourism.”

Secretary Frederick Go highlighted the administration’s focus on increasing agricultural production and improving the food logistics chain. He noted that the Clark National Food Hub is a significant step toward sustainable food security.

Impact on Key Areas of Development

Perez outlined the potential impact of CIAC’s projects on three key development areas:

• Agro-logistics: The National Food Hub will support robust agricultural production.
• Business Tourism: The World Convention Center and Events Hub will position Clark as a top business tourism destination in Southeast Asia.
• Environmental Sustainability: The Urban Renewal and Heritage Conservation Project will showcase resilient and future-proof tourism infrastructures.

The Maharlika Investment Fund (MIF) Act of 2023 established the MIC, which is responsible for mobilizing and utilizing the MIF for investment transactions to generate optimal returns.