NATIONAL
Advocates Philippines
President Marcos Affirms Maharlika Implementation By Year-End
Photo credit: PCO
President Ferdinand R. Marcos Jr. addressed the nation on Thursday October 19, 2023, dispelling rumors and clarifying that his administration is steadfast in its commitment to implement the Maharlika Investment Fund (MIF) law before the year concludes.
Speaking in a pre-departure statement before his trip to Saudi Arabia, the President emphasized the importance of introducing the sovereign fund internationally, particularly in Middle Eastern countries.
"I would just like to make a comment because one of the important aspects of this trip will be for us to introduce the Maharlika Investment Fund to the rest of the world and certainly, more specifically, to the Middle Eastern countries. I was a bit alarmed by the news reports early this morning that I read in the newspapers that we have put the Maharlika Fund on hold. Quite the contrary," President Marcos said, addressing concerns about the fund's status.
Marcos clarified that the organizational structure of the Maharlika Fund is undergoing enhancements while preparations for its implementation are progressing rapidly.
"The organization of the Maharlika Fund proceeds at pace. And what I have done though is that we have found more improvements that we can make specifically to the organizational structure of the Maharlika Fund," he stated, highlighting the ongoing efforts to refine the fund's operational framework.
He reassured the public that the government remains dedicated to launching the MIF, emphasizing, "We are still committed to having it operational before the end of the year." President Marcos urged the public not to misinterpret recent developments as judgments on the viability of the Maharlika Fund.
President Marcos also revealed that extensive consultations with various stakeholders are underway to enhance the MIF's operational efficiency.
These consultations, he said, are geared toward ensuring that the fund's implementation aligns with the needs and expectations of the diverse groups it aims to serve.
Speaking in a pre-departure statement before his trip to Saudi Arabia, the President emphasized the importance of introducing the sovereign fund internationally, particularly in Middle Eastern countries.
"I would just like to make a comment because one of the important aspects of this trip will be for us to introduce the Maharlika Investment Fund to the rest of the world and certainly, more specifically, to the Middle Eastern countries. I was a bit alarmed by the news reports early this morning that I read in the newspapers that we have put the Maharlika Fund on hold. Quite the contrary," President Marcos said, addressing concerns about the fund's status.
Marcos clarified that the organizational structure of the Maharlika Fund is undergoing enhancements while preparations for its implementation are progressing rapidly.
"The organization of the Maharlika Fund proceeds at pace. And what I have done though is that we have found more improvements that we can make specifically to the organizational structure of the Maharlika Fund," he stated, highlighting the ongoing efforts to refine the fund's operational framework.
He reassured the public that the government remains dedicated to launching the MIF, emphasizing, "We are still committed to having it operational before the end of the year." President Marcos urged the public not to misinterpret recent developments as judgments on the viability of the Maharlika Fund.
President Marcos also revealed that extensive consultations with various stakeholders are underway to enhance the MIF's operational efficiency.
These consultations, he said, are geared toward ensuring that the fund's implementation aligns with the needs and expectations of the diverse groups it aims to serve.
Oct 19, 2023
