MANILA, Philippines — Maharlika Investment Corp. (MIC) is considering an investment in the National Grid Corp. of the Philippines (NGCP) as part of its strategy to enhance government oversight of critical infrastructure and address national security concerns.
Rafael Consing Jr., president and CEO of MIC, confirmed that the potential investment aligns with the fund’s goal of securing national interests, particularly in sectors with significant foreign involvement like energy.
NGCP, which manages the country’s electricity transmission network, has substantial foreign ownership, raising concerns about national security and control.
By acquiring a stake in NGCP, MIC aims to provide the government with more direct oversight, ensuring better regulation and reducing risks related to foreign investments in critical sectors.
This move is in line with the broader push for increased transparency and government involvement in strategic industries.
MIC, established as the Philippines’ sovereign wealth fund, seeks to invest in areas that enhance the country’s economic resilience and long-term stability.
The potential investment in NGCP reflects efforts to safeguard national infrastructure while benefiting from international partnerships.