Speaker highlights 'promising' MIF, economic Cha-cha in meeting with envoys

At a glance

  • House Speaker Martin Romualdez (In photo) describes the prosposed Maharlika Investment Fund (MIF) and economic Charter change (Cha-cha) efforts as two of Congress' "more promising" measures during an event with envoys from the Asia Pacific.

  • (Photo from Speaker’s office)

The prosposed Maharlika Investment Fund (MIF) and economic Charter change (Cha-cha).

House Speaker Martin Romualdez highlighted these two "promising" measures during his speech Tuesday, March 21 at the luncheon meeting with ambassadors of the Asia-Pacific Parliamentary Forum (APPF)-member-countries at Shangri-La The Fort, Taguig City.

“Two of our more promising initiatives is the [MIF] proposal and the efforts to amend the economic provisions of our existing Constitution through a constitutional convention (con-con)," Romualdez said.

The Leyte 1st district congressman said that the House of Representatives has already approved the MIF and the proposals amending the restrictive economic provisions of the 1987 Constitution to further stimulate economic activities, create job opportunities, and provide better health care services for Filipinos

"These measures, we at the House of Representatives believe, will help create a more vibrant economy not only for the Philippines but also for the countries in the Asia-Pacific Region, by reducing, if not, totally eliminating economic barriers to investments. Indeed, there are so much more to look forward to,” the House leader said.

The proposed MIF and measure calling for the creation of con-con have both been approved on third and final reading by the House of Representatives. Both have been transmitted to the Senate

Senate President Juan Miguel "Migz" Zubiri also attended the event, which was part of the country's preparations for its hosting of the APPF’s 31st annual conference.

Alluding to the upcoming big event, Romualdez proudly declared to the envoys that the country was "very much open for business".

“Our dear Ambassadors, please extend our warmest invitation to our peers in your countries and let them know that the Philippines is very much open for business, and we have a lot to offer,” he said.

“This year, 2023, in Manila, your parliamentarians will rediscover another unique and rich culture, reflecting all three of our heritage- our island nation ancestry, our deep Southeast Asian roots as well as our Latin American kinship,” he added.