House Speaker Martin Romualdez (Speaker’s office)

The House Speaker Martin Romualdez-led Philippine delegation to this year's World Economic Forum (WEF) have successfully drummed up interest for the country and its nascent Maharlika Investment Fund (MIF). 

Thus, shared Romualdez on the final day of the WEF 2024 Annual Meeting in Davos, Switzerland on Saturday, Jan. 20 (Philippine time). The annual meeting gathers high-ranking world leaders and the business elite. 

Romualdez, leader of the 300-plus strong House of Representatives that led the passage of the MIF in late 2022, also attended various smaller meetings in Davos, which is behind Manila by a day. 

“The interest in the MIF and the Philippines we have generated through our various engagements in the forum augurs well for the success of the WEF CEO Roundtable that President Ferdinand R. Marcos, Jr. will host in Manila on March 18 to 19,” he said. 

“I am grateful for the invaluable contributions of each member of the Philippine delegation to this year’s WEF meet which enabled us to make significant inroads in focusing international attention on the MIF and the bright prospects for investing in the Philippines,” added Romualdez. 

The MIF--arguably the most groundbreaking legislation so far under the Marcos administration--is the Philippines' first ever sovereign wealth fund. 

Envisioned to take place at the Malacañang Presidential compound in Manila, the WEF CEO Roundtable hopes to attract more than 50 representatives both from local and international companies and organizations with a special focus on foreign funds and investment companies interested in exploring opportunities related to the MIF. 

The MiF and the Philippines also received attention from leading international media organizations. 

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The Speaker was one of the featured guests during the “Learning from ASEAN” session at the World Economic Forum Annual Meeting live panel discussion hosted by CNN anchor Julia Chatterley. 

He was was joined in the panel discussion by Pham Minh Chinh, Prime Minister of Viet Nam, Srettha Thavisin, Prime Minister of Thailand, and Ngozi Okonjo-Iweala, Director-General of World Trade Organization (WTO), Geneva. 

MIC CEO Consing had a one-on-one interview with Haslinda Amin on Bloomberg TV on the features and prospects of the MIF. He also bared that other foreign wealth funds, especially from the Middle East and Association of Southeast Asian Nations (ASEAN) countries, have shown interest in the MIF. 

As part of its effort to explain explain the features of the MIF and the key advantages of the Philippines as a destination for foreign investments, the Philippine WEF delegation also held a roundtable breakfast discussion with executives from leading foreign business interests and wealth fund managers. 

During the roundtable discussion, Romualdez other members of the Philippine delegation cited the robust economic growth spurred by sound economic fundamentals, a young and English-speaking workforce, and ongoing reforms to further enhance the country’s competitiveness and make it more friendly to foreign investors.