President Ferdinand R. Marcos Jr. has officially signed the Maharlika Investment Fund (MIF) into a law today, July 18.
By enacting the MIF Act, the government is now focused on formulating the necessary guidelines and regulations for establishing the Maharlika Investments Corporation.
This entity will serve as the exclusive platform for mobilizing and utilizing the MIF to engage in transactions that generate optimal returns on investments.
During his address, Marcos emphasized the significance of the MIF in propelling the country towards meaningful economic transformation, especially as the nation recovers from the pandemic’s adverse effects.
The chief executive expressed confidence in entering a new era of sustainable progress, strong stability, and comprehensive empowerment. This sovereign wealth fund aims to drive economic development.
Marcos stressed the importance of implementing necessary changes to make the Philippines an attractive destination for investments.
The MIF represents an opportunity to allocate the government’s currently underutilized funds, providing seed money for investments and attracting foreign investments without additional borrowing.
Marcos emphasized the need for proficient management of the fund by professionals, ensuring that decisions are based on financial considerations rather than political factors. By removing political influence, the fund can operate on a sound and proactive financial basis, enabling its effective functioning as a dedicated investment resource. I via Sol Luzano
