BBM definitely launching MIF

I’m confident he would do the same in the WEF, particularly in introducing the Maharlika Wealth Fund to the global stage and in helping our local business leaders explore investment opportunities for the Philippines

President Ferdinand Marcos Jr. is ready to introduce the sovereign wealth fund in the stellar stage of the World Economic Forum in Davos, Switzerland, given his “excellent ability” to articulate the Philippines’ interests in previous global fora.

“I’m confident he would do the same in the WEF, particularly in introducing the Maharlika Wealth Fund to the global stage and in helping our local business leaders explore investment opportunities for the Philippines,”, Speaker Martin Romualdez said Monday.

The House chief, who is part of the official delegation, expressed confidence that the Chief Executive would lay down his administration’s gains and promote the Philippines as an investment hub in the international forum in which approximately 50 global business leaders, celebrities, and prominent social activists will take part.

Investments binge

The President, in a chance interview with reporters during his flight bound for Switzerland, said that the WEF would be an excellent opportunity to soft launch the House-approved Maharlika Investment Fund and promote the country as an investment hub.

“We’ll talk about the Philippines, what the situation is as an investment destination. Now, added to that, we have something to talk about, this sovereign wealth fund,” Mr.

Marcos explained when asked how he would introduce the MIF to the WEF participants.

“So, I will tell exactly what happened: and how we are forming a sovereign wealth fund for big investments in the basic areas such as agriculture, energy, digitalization, and climate change,” he added.

The lower chamber dominated by Marcos’ allies formally passed on final reading the bill creating the multibillion-peso MIF during its last session before it went on a holiday recess.

The swift approval of House Bill 6608, whose number of authors grew to 282, was in response to the President’s urgent call for enactment.

“The proposed sovereign wealth fund will help President Ferdinand Marcos Jr. keep the country on the high-growth path,” said the Speaker, the principal proponent of the bill.

“We want to assure the public that the management of the fund will follow best practices and the principles of transparency and accountability,” he stressed.