President Ferdinand Marcos Jr. delivers a speech at Malacañang Palace grounds in Manila on Friday, Nov. 3, 2023, during which he also announced the appointment of Francisco Tiu Laurel Jr. as the new Department of Agriculture secretary. (File photo by RYAN LEAGOGO / INQUIRER.net)
MANILA, Philippines — President Ferdinand Marcos Jr. on Monday said the review of the guidelines for the implementation of the Maharlika Investment Fund (MIF) has been concluded, setting in motion the creation of the corporate entity that will manage the country’s first sovereign wealth fund.
“The implementing rules and regulations (IRR) of the Maharlika Investment Fund [has] been finalized,” the president said in a Facebook post.
“Upon approval, we’ll swiftly establish the corporate structure, getting the MIF up and running,” he said, referring to the Maharlika Investment Corp.
In a statement on Monday, the Presidential Communications Office said top government officials, among them Senior Undersecretary Elaine Masukat and Undersecretary Rodolfo John Robert Palattao IV of the Presidential Management Staff, participated in finalizing the IRR.