The Philippine Chamber of Commerce and Industry (PCCI) expressed support to the sectors identified to be financed by the Maharlika Investment Fund (MIF) saying these are critical to the productivity of enterprises and industries and the country’s sustained growth.
Enunina Mangio, PCCI president, said in a statement MIF is in the best position to invest in projects that support economic and social development plans and fulfill priorities under the Philippine Development Plan (PDP).
These are energy, water, transport and information and communication technology (ICT) and infrastructure projects which are capital-intensive.
“Several parts of the country have been facing severe shortages in electricity and there has been questions on where to get power supply that are reliable enough for our growing economy,” Mangio said as she expressed support to the MIF’s blueprint to include energy security and urged government to act with haste on pending power development projects.
Mangio also cited the need to develop and better manage the country’s water systems to ensure that water resources including rains and wastewater are appropriately harvested, recycled, harnessed for residential, agricultural, commercial and industrial uses.
Transportation and ICT projects, especially those that connect agriculture areas and areas with great tourism potential to urban centers, would drive productivity and the creation of jobs in rural areas, Mangio added.
“Investing in critical sectors drive agriculture and industrial innovation and other important businesses or projects that can enhance efficiency and improve the agriculture and industrial structure,” Mangio said.
She said PCCI welcomes the pronouncement of Cesar Consing, head of the Maharlika Investment Corp. to employ the MIF as a national development fund.
