New GSIS chief Veloso eyes more infra deals for revenue generation

State-run Government Service Insurance System (GSIS) is eyeing to continue investing in infrastructure not only to generate higher returns for the benefit of its members but also to support the country’s economic growth. 

New GSIS President and General Manager Jose Arnulfo “Wick” Veloso said on Friday that they are currently looking at investment opportunities but he said they would like to invest in implementation-ready infrastructure projects. 

Kailangan po nating tulong makainvest kami dito sa mga bagay na magpapasulong sa Republika ng Pilipinas. Kung meron pong mga magpupush for theindustrialization of the country and health for example, various industries that I have mentioned…gusto po namin malaman para makapag-invest…,” Veloso told reporters in his first news conference at the GSIS Head Office in Pasay City.

GSIS Executive Vice President for Support Services Sector Dionisio Ebdane Jr. also said their maximum investment limit is P104 billion, of which P35 billion has already been released for private equity and infrastructure. 

Ebdane said a lot of investment opportunities are being considered, which may include those in the stock market.

So pag-aaralan po ng bagong administrasyon kung papasok ulit tayo sa infrastructure projects,” Ebdane said. “So sabi ko nga, meron pang pondo so paguusapan po ito sa board, investment committee, kung nararapat bang ipagpatuloy itong investment,” he added. 

President Ferdinand “Bongbong” R. Marcos Jr. said in his first State of the Nation Address that infrastructure development would remain a “very high priority in our drive for growth and employment,” as he vowed to build on and expand his predecessor’s infrastructure program. 

State infrastructure spending under the Marcos administration will also be sustained at 5 to 6 percent of the country’s GDP. 

Meanwhile, as the new GSIS chief vowed to ensure that their members’ premium contributions are invested wisely and safely and to grow the pension fund’s insurance business, while making sure that government assets are insured. On top of this, he also aims to make GSIS the benchmark for public sector digitalization. 

The GSIS Board of Trustees elected Veloso GSIS president and general manager last July 21. He is a veteran banker with close to 40 years of banking experience and a multi-awarded CEO who was responsible for the financial success of the Philippine National Bank and HSBC-Philippines, among other banking institutions.

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