President Ferdinand Marcos Jr. delivers 2nd Sona (Screenshot from RTVM)
MANILA, Philippines — The country’s priority development projects can now depend on the newly-minted Maharlika Investment Fund (MIF), President Ferdinand “Bongbong’ Marcos Jr. said during his second State of the Nation Address (Sona) Monday afternoon.
“For strategic financing, some of the nation’s high-priority projects can now look to the newly established Maharlika Investment Fund, without the added debt burden,” said Marcos during his address.
According to Marcos, the MIF can be used to fund his administration’s Build-Better-More program.
“In pooling a small fraction of the considerable but underutilized government funds, the Fund shall be used to make high-impact and profitable investments, such as the Build-Better-More program. The gains from the Fund shall be reinvested into the country’s economic well-being,” said Marcos.
Marcos stressed that the MIF will not be tainted by politics, despite the fact that the Maharlika Investment Council’s board members and advisory council are all presidential appointees.
“To ensure sound financial management, a group of internationally recognized economic managers shall oversee the operations of the Fund, guided by principles of transparency and accountability. This guarantees that investment decisions will be based on financial considerations alone, absent any political influence,” said Marcos.