Bongbong Marcos pitches MIF to world leaders, business execs
MANILA, Philippines — President Ferdinand Marcos Jr. on Wednesday pitched the Maharlika Investment Fund (MIF) to foreign business and world leaders during the 10th Asian Summit in Singapore.
Marcos had encouraged the audience in the forum — composed of world leaders, business executives, thought leaders and more — to invest in the Philippines. He pointed out that the Philippines had enacted policies to ease doing businesses in the country.
“The regulatory reforms that we have recently passed, which liberalized many sectors, including public services, retail, and renewable energy, amongst others, are expected to encourage private investment and bolster the growth of our economy over the medium to the long term. We have also recently launched our own sovereign wealth fund, the Maharlika investment fund,” Marcos said in his speech.
Marcos explained that the MIF consolidates investible funds from government and financial institutions to ramp up economic development through strategic investments both domestically and overseas.
“Given the strong fundamentals of our economy, I invite you to explore the Philippines as a destination for investment. Moreover, the Philippines strategic location within Asia, coupled with our membership in regional trade agreements, positions us as a gateway to countless possibilities,” said Marcos.
The President also touted the country’s 7.6 percent gross domestic product in 2022, as well as its membership in the Association of Southeast Asian Nations and the Regional Comprehensive Economic Partnership.