MAHARLIKA FUND

Meanwhile, Finance chief Ralph G. Recto invited Australian investors to look at potential opportunities with the Maharlika Investment Fund (MIF).

“Australian investors seeking to broaden their portfolios into rapidly expanding markets such as the Philippines should explore potential ventures within the Fund,” he said in a speech at the Philippine Business Forum.

“It provides an opportunity for private-sector engagement in financing our big-ticket infrastructure projects,” he added.

The Maharlika Investment Corp. (MIC) is set to announce its first commitment in the next two to three months, which would likely be an energy-related project.

Its priority sectors include energy, physical and digital infrastructure, food security, aviation and aerospace, mineral processing, transportation and tourism.

Mr. Recto also invited Australian investors to explore investments in recently liberalized sectors such as telecommunications, transportation, banking, mining and energy.

“In addition, we are currently refining the country’s fiscal incentives system to further tailor-fit incentives and attract international enterprises to invest in strategically important projects,” he added.

The Finance chief also noted the Philippines’ young population and potential to become “demographic partners” with Australia.

“Our young, tech-savvy, Englishspeaking workforce complements Australia’s forward-thinking businesses and highly skilled labor force. This sweet spot provides an opportunity for the Philippines and Australia to become demographic partners,” he added.

He also cited growth prospects of the country, which is the fastestgrowing economy in the region. — with Luisa Maria Jacinta C. Jocson