Malacañang has confirmed that it has received the proposed Maharlika Investment Fund for the President's signature.
President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Yummie Dingding/PPA Pool)
Presidential Communications Office (PCO) Secretary Cheloy Garafil said on Wednesday, July 5, that the Palace, through the Office of the Deputy Executive Secretary for Legal Affairs, received the bill on Tuesday, July 4.
There is, however, no word from the Palace when President Ferdinand "Bongbong" Marcos Jr. will sign it.
Marcos has certified the bill as urgent, stressing that "there is a compelling need for a sustainable national investment fund" to accelerate the implementation of high-impact large infrastructure projects in the country.
Last month, the President said he will sign the bill "as soon as I get it."
He has allayed lingering concerns over the proposed investment fund, saying it will be independent from government and will be managed by finance experts.
Marcos did not dismiss the lingering fears from the public, saying "you must worry about that" but the only way that the fund will not get into trouble is for it to be "well and professionally managed."
He stressed that the secret to its success is who to put in management, what is their experience, reputation, and success rate.