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Maharlika fund a 'bold step toward economic transformation'--solon

Philippines | National

Maharlika fund a 'bold step toward economic transformation'--solon

By Ellson Quismorio

Ako Bicol Party-list Rep. Zaldy Co (Facebook)

The Philippines has taken a bold step toward economic transformation with the enactment of the Maharlika Investment Fund (MIF). Thus, said House Committee on Ways and Means Chairman Ako Bicol Party-list Rep. Zaldy Co, as he joined those giving congratulatory remarks for President Ferdinand "Bongbong" Marcos Jr. over the creation of the nation's inaugural sovereign wealth fund. "With the establishment of the Maharlika Investment Fund, we are taking a bold step towards our country's economic transformation," Co said in a statement Thursday, July 20. "This sovereign wealth fund will enable us to make strategic investments that will drive sustainable growth and contribute to the overall development of the Philippines," he said. Republic Act (RA) No.11954 or the MIF holds the promise of unlocking new opportunities and faster-paced progress through investments in key sectors such as socioeconomic development and infrastructure. "Returns from the projected investment could be used, in theory, to bankroll socioeconomic and infrastructure projects, ensuring the betterment of our society and uplifting the lives of our fellow Filipinos," Co remarked. The Bicolano hailed the government's commitment to managing MIF with financial, not political, decisions. "This approach ensures transparency, accountability, and a focus on generating optimal returns for the benefit of our nation and its people." He said that by keeping political influences at bay, the MIF will operate based on sound investment strategies and prudent fiscal management, safeguarding the fund's integrity. "The creation of the Maharlika Investment Fund is a testament to our nation's determination to build a brighter and more prosperous future for all Filipinos," Co concluded.

Related Tags

Ferdinand Bongbong Marcos Jr. Maharlika Investment fund zaldy co

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