Marcos promotes Maharlika Investment Fund at WEF roundtable
President Ferdinand “Bongbong” Marcos Jr. (Photo from PCO)
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Tuesday touted the Maharlika Investment Fund (MIF) to global business leaders at the World Economic Forum (WEF) roundtable, calling it a “driver of growth.”
The Philippines is hosting the two day roundtable for the WEF, an international organization that brings together leaders from government, business, academia and civil society.
“We have also established the Philippines’ first-ever sovereign investment fund to channel capital toward productivity-enhancing sectors. The Maharlika Investment Fund is designed to serve as a magnet for equity financing from abroad and a vehicle for driving long-term growth without compromising efforts towards fiscal consolidation,” said Marcos in his keynote address at the Palace.
Marcos also said that the Philippines is fortifying trade and economic ties in Southeast Asia to promote cooperation amid geoeconomic fragmentation.
“I extend an invitation to our guests and partners here today to join us in this exciting new phase. The members of economic team are here today ready to discuss those opportunities that I speak of in greater depth,” said Marcos.
In a press briefing on the same day, Finance Secretary Ralph Recto said that the Maharlika Investment Council is currently looking at different sectors for investments.
“We’re looking at investments in renewable energy, in agro industry, in physical connectivity, infrastructure, basically those,” said Recto.
Marcos attended the WEF in January 2023, being one of the few Asian Presidents to be in attendance.
