The House of Representatives passed a resolution that sought to establish a sovereign wealth fund…
Diokno endorses the measure for the Maharlika Fund’s immediate certification.
President Ferdinand R. Marcos Jr.’s decision to certify Senate Bill 2020, which aims to establish the Maharlika Investment Fund, as urgent, was applauded by Finance Secretary Benjamin Diokno.
Late on Wednesday, Diokno sent a Viber message to reporters saying, “We welcome the certification of the urgency of the Maharlika Investment Fund bill.” “The fund should be established as soon as possible,”
The interpellation period for the proposed law is now in effect.
According to Diokno, the Maharlika Investment Fund would boost the economy’s growth through investment.
HE SAID THAT the IMF (International Monetary Fund) projects that the global economy will expand by just 2.8 percent this year, which is very important right now.
While the macroeconomic foundations of the nation are sound, according to Diokno, the Philippines has to engage in high-impact, strategically important infrastructure and other development projects to continue its growth pace.
And second, he added that now is a good time to benefit from our government financial institutions’ abundant liquidity and their investible funds.
The Maharlika Investment Fund, which incorporates existing institutions engaging in investing operations, is a vehicle to diversify the nation’s financial portfolio, according to a previous explanation by Diokno.
The Fund will be used only for infrastructure development and investments with excellent returns.
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