Despite the bill for its creation still pending in Congress, the Maharlika Investment Fund (MIF) will already be “soft launched” by President Ferdinand R. Marcos Jr. at the 2023 World Economic Forum (WEF) in Davos. Know more:
DESPITE the bill for its creation still pending in Congress, the Maharlika Investment Fund will already be “soft launched” by President Ferdinand R. Marcos Jr. at the 2023 World Economic Forum in Davos, Switzerland next week to help attract more investments in the country.
Business leaders opposed the creation of the MIF since it could negatively affect the country’s credit rating, while labor groups are against it since it can take away government funds from much needed public services. In a press conference in Malacañang last Thursday, DFA Undersecretary Carlos D. Soretta said the President’s discussion on the MIF at the WEF will only be in “broad strokes” since the bill for its creation is still “evolving” in Congress.
Aside from the MIF, Marcos is also expected to discuss other priority agenda of his administration, namely, food and energy security, digitalization, climate action, attracting investments and promoting beneficial trade addressing inequality and providing accessible social services. “We’re preparing all the talking points not just with the global leaders but also heads of financial institutions that he wants to meet,” Soretta said.
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