Maharlika Fund implementation finalized —Marcos
President Marcos stated that the implementing rules and regulations (IRR) of the Maharlika Investment Fund (MIF) has been finalized.
"The Implementing Rules and Regulations of Maharlika Investment Fund have been finalized," Marcos announced on Monday, Nov. 6.
He said the corporate structure of the fund will be swiftly established, following the finalization of its implementing rules and regulations (IRR).
"Upon our approval, we'll swiftly establish the corporate structure, getting the MIF up and running," he said.
It can be recalled that the President suspended the implementation of the Maharlika Fund on Oct. 12 to further study it.
On Oct. 19, he explained that suspension was only made to find ways to "make it as close to perfect and ideal as possible," specifically on the organizational structure of the Fund.
He then pointed out that the concept of the Fund remains "a good one" and the suspension of the implementation of the IRR should not be misinterpreted as a judgment of the "rightness or wrongness of the Maharlika fund."
He said it will still be operational before 2023 ends.