Bongbong Marcos to urge investment in Maharlika fund during Saudi trip

FILE PHOTO: President Ferdinand Romualdez Marcos Jr. Photo by Yummie Dingding / PPA POOL

MANILA, Philippines — President Ferdinand Marcos Jr. will make a sales talk of the Maharlika Investment Fund (MIF) during his trip to Saudi Arabia this week, an official of the Department of Foreign Affairs (DFA) said Monday.

DFA Assistant Secretary Daniel Espiritu said the President is set to join the Association of Southeast Asian Nations-Gulf Cooperation Council Summit (Asean-GCC) on October 19 in Saudi Arabia and hold meetings with the host country and Saudi businessmen there.

“Part of the discussion could be the presentation of the Maharlika Fund to the Kingdom of Saudi Arabia and its businesses,” he said in a Palace briefing.

Marcos is likewise expected to discuss the labor status of overseas Filipino workers (OFWs) in Saudi Arabia, he added.

Around 10,000 OFWs in Saudi Arabia have yet to receive their salaries, Espiritu said.

According to the DFA official, around 2 million Filipinos are in the Gulf region, and 700,000 are in Saudi Arabia.

READ: Hindi nabayarang sweldo ng 10,000 OFW sa Saudi Arabia, uungkatin ni Pangulong Marcos

“Now, there are also planned bilateral meetings with Saudi Arabia, as well as with Bahrain. But again, beyond the generalities, I cannot give you details yet because they are still being finalized,” Espiritu said.

kga/abc