President Ferdinand R. Marcos, Jr. will invite potential investors to provide capital to his proposed sovereign wealth fund at the World Economic Forum meeting next week, according to the Department of Foreign Affairs. READ:
PRESIDENT Ferdinand R. Marcos, Jr. will invite potential investors to provide capital to his proposed sovereign wealth fund at the World Economic Forum meeting next week, according to the Department of Foreign Affairs.
The sovereign wealth fund, if approved, is expected to finance big government projects such as power grids and dams. Its main funders are currently government banks, after a backlash against an earlier proposal to tap pension funds. “What’s very important is it’s an investment in the future, and there’s great confidence the President has in the ability of Filipino entrepreneurs and local investors,” he added.
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