LUCENA CITY – House Speaker Martin Romualdez has cited Quezon Rep. and House Deputy Majority Leader David "Jay-jay" C. Suarez for his unwavering push for the approval of the proposed Maharlika Investment Fund (MIF).
Suarez said in a press statement that the proposal to put up a sovereign wealth fund is expected to further speed up the economic train the Marcos administration has started running.
The Quezon solon said that the proposal underwent exhaustive review and rigorous plenary discussions and was “fortified with safeguards and safety nets to ensure that fund managers will not be able to dip their hands into the fund’s investments.”
“The approval of the bill went through congressional surgery. We made sure that not only is it compliant to local laws but congruent to international standards as well,” Suarez said.
"I am pleased that even members of the House of Representatives who initially opposed the bill are now co-authors of the final version approved by the Lower House. That is proof that the measure was well-thought-of and sufficiently deliberated upon," he added.
Suarez reminded the public not be misled into believing that the MIF would be disadvantageous to the public and benefit only the administration and its allies.
"Our people need more information about the MIF so that they can see that the benefits outweigh the unwarranted fear. This is why I am appealing to all Filipinos to support the measure. There are 79 sovereign investment funds from other countries, of which 78 were successful. It is an issue of management and with so many brilliant minds in the Philippines, the Maharlika fund will be successful," he said.