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Philippines finalises implementing rules for its first sovereign fund

MANILA (XINHUA) – Philippine President Ferdinand Romualdez Marcos yesterday said that the implementing rules and regulations of the Maharlika Investment Fund (MIF) have been finalised.

“Upon our approval, we’ll swiftly establish the corporate structure after getting the MIF up and running,” Marcos said on his Facebook page. He did not give further details on the rules.

In July, Marcos signed into law the Maharlika Investment Fund Act of 2023, establishing the country’s first-ever sovereign investment fund designed to rev up economic development by making strategic and profitable investments in key sectors.

PHOTO: AFP
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