Section 14Sec./Art. 14

Allowable Investments.- Subject to strict compliance with the Investment and Risk Management Guidelines, the Board of Directors of the MIC may engage in the following investments:

(a) Cash, foreign currencies, metals, and other tradeable commodities:

(b) Fixed income instruments issued by sovereigns, quasi-sovereigns and supranationals;

(c) Domestic and foreign corporate bonds;

(d) Listed or unlisted equities, whether common, preferred, or hybrids;

(e) Islamic investments, such as Sukuk bonds;

(f) Joint ventures or co-investments, mergers and acquisitions;

(g) Mutual and exchange-traded funds invested in underlying assets;

(h) Real estate and infrastructure projects: Provided, That investments in infrastructure projects shall be directed towards the fulfillment of national priorities such as the national infrastructure program of the Department of Public Works and Highways (DPWH) and other infrastructure agencies, the inclusive innovation industry strategy of the Department of Trade and Industry (DTI), and the public investment programs of the National Economic and Development Authority (NEDA);

(I) Programs and projects on health, education, research and innovation, and other such investments that contribute to sustainable development;

(j) Loans and guarantees to, or participation into joint ventures or consortiums with Filipino and foreign investors, whether in the majority or minority position in commercial, industrial, mining, agricultural, housing, energy, and other enterprises, which may be necessary or contributory to the economic development of the country, or important to the public interest, and

(k) Other investments with sustainable and developmental impact aligned with Section 17 of this Act, as may be approved by the Board.

Investments in real estate, including agro-industrial estates and economic zones, estates infrastructure and other

development projects, whether alone or in partnership with other corporate entities, shall be limited to high-impact projects as approved by the appropriate approving body, to ensure that these are in line with the socioeconomic development program of the government.

The Board of Directors of the MIC shall likewise ensure that all allowable investments as provided in this section are in accordance with the principle of sustainability.