NextGen Day

Speaker Martin Romualdez and House Secretary General Reginald Velasco have signed the bill that establishes the Maharlika Investment Fund (MIF).

In a message to reporters on Tuesday, Romualdez’s office confirmed this development, stating that the signed bill was transmitted to the Senate on Monday.

Senate President Juan Miguel Zubiri signed the MIF bill on June 21 while on a visit to Washington, D.C. Senate Secretary Renato Bantug personally delivered the bill to him.

Zubiri expressed his expectation that President Ferdinand R. Marcos Jr. would sign the bill into law by the second or third week of July.

Zubiri further explained that once the measure becomes law, the national government’s economic managers and a council will prepare the Implementing Rules and Regulations. This council will recommend to President Marcos the individuals who will oversee the management of the MIF.

He reiterated that the MIF bill was thoroughly discussed in the plenary and assured that the provision regarding a 10-year prescription of crimes and offenses was properly addressed and can be found in the official records.

Earlier, Marcos stated that he would review the changes made to the MIF bill before affixing his signature, ensuring that the proposed fund would be managed professionally and effectively.

Designated as “urgent” by Marcos, the MIF bill establishes a sovereign wealth fund that will be utilized to invest in various assets, including foreign currencies, fixed-income instruments, domestic and foreign corporate bonds, commercial real estate, and infrastructure projects. Its primary goal is to promote economic development.

The bill also calls for the establishment of the Maharlika Investment Corporation (MIC), which will serve as the sole vehicle for mobilizing and utilizing the MIF for investments in order to generate optimal returns.

Importantly, the proposed measure guarantees that the MIF will not touch the funds of the Social Security System (SSS), Government Service Insurance System (GSIS), Philippine Health Insurance Corporation (PhilHealth), or Home Development Mutual Fund (HDMF). 💼🌱

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---