MIC Hosts Inaugural ASEAN Sovereign Wealth Fund Forum, Strengthening Regional Investment Cooperation | MAKATI CITY, Philippines – Maharlika Investment Corporation (MIC) convened sovereign investment institutions from across Southeast Asia at the inaugural ASEAN Sovereign Wealth Fund Forum on November 10, 2026, bringing together regional investment leaders to discuss institutional development, long-term investment strategies, and opportunities for greater economic cooperation.
Held at Makati Diamond Residences as part of the Fourth ASEAN Investment Forum (AIF 2026), the forum was organized in connection with the Philippines’ 2026 ASEAN Chairship. AIF 2026 was led by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in partnership with the Department of Trade and Industry – Board of Investments (DTI-BOI).
The gathering provided a platform for sovereign investors across ASEAN to exchange perspectives on the history, progress, aspirations, and challenges of sovereign wealth funds and investment institutions, highlighting their growing role in supporting national development and regional economic priorities.
ASEAN Sovereign Investors Discuss Institutional Growth and Future Opportunities
A key highlight of the forum was the plenary discussion titled “Seeds for the Future,” moderated by Curtis Chin, Chair of Senior Fellows and Senior Advisor at the Milken Institute.
The panel featured leaders from prominent regional investment institutions, including:
- Dato’ Amirul Feisal Wan Zahir, Managing Director, Khazanah Nasional Berhad, Malaysia
- Oki Ramadhana, Chief Executive Officer, Indonesia Investment Authority (INA)
- Lê Huy Chi, Standing Board Member, State Capital Investment Corporation (SCIC), Vietnam
- Rafael Jose D. Consing, Jr., President and Chief Executive Officer, Maharlika Investment Corporation (MIC), Philippines
- Kunal Agarwal, Managing Director, I Squared Capital
The discussion brought together institutions at different stages of development, offering insights into how sovereign investment organizations evolve and contribute to their respective economies.
In his opening remarks, MIC President and CEO Rafael D. Consing, Jr. emphasized the importance of understanding the origins and purpose of sovereign investment institutions.
“Every institution on this stage was planted by a government that wanted something it did not yet have,” Consing said.
The panel represented a range of institutional experiences, from Khazanah Nasional Berhad, established in 1993, and Vietnam’s SCIC, established in 2005, to INA, established in 2020, and MIC, established in 2023. The discussion also included perspectives from I Squared Capital, a global independent infrastructure investment and private equity firm.
From Institutional Foundations to Regional Investment Opportunities
The plenary was structured around two themes: “The Seeds” and “What We Grow Next.”
The first segment, “The Seeds,” examined the origins, institutional development, and experiences of MIC, INA, and Khazanah, highlighting the foundations that shape their investment mandates, governance, and long-term strategies.
The second segment, “What We Grow Next,” explored emerging investment opportunities, commercial priorities, and potential areas for regional collaboration. The exchange underscored how sovereign investment institutions can support economic development through patient capital, strategic investments, and partnerships.
Consing also highlighted the distinctive role of MIC in the Philippine investment landscape.
“MIC was not born of fiscal surplus or a commodity windfall. It was created because the country had things worth building that markets would not yet finance alone. That is the role sovereign funds can play: patience, proximity to government, and the willingness to be first,” Consing added.
The discussions reinforced the importance of strong institutional foundations, long-term investment strategies, and strategic partnerships in enabling sovereign investors to contribute meaningfully to economic growth.
Supporting ASEAN’s Regional Investment Agenda
The ASEAN Sovereign Wealth Fund Forum supports the ASEAN Regional Investment Promotion Action Plan (RIPAP) 2025–2030, which seeks to position ASEAN as a unified investment destination supported by stronger regional value chains and increased investment collaboration.
As part of the broader forum activities, participating sovereign investment institutions also attended presentations featuring investment-ready projects in strategic sectors, including solar energy, energy storage, biofuels, smart grids, and critical minerals.
These sectors represent important areas for investment and cooperation as ASEAN continues to strengthen its economic integration, energy transition, and regional competitiveness.
The inaugural ASEAN Sovereign Wealth Fund Forum concluded with a renewed commitment from MIC to strategic partnerships, long-term investments, and regional cooperation, reinforcing the importance of collective efforts in advancing ASEAN’s investment priorities.
