NextGen Day

The recent signing of the Maharlika Investment Fund (MIF) Act of 2023 has garnered praise from National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan. He believes the MIF will be vital in helping the Philippines achieve its long-term development objectives.

Balisacan emphasized that the MIF will complement existing investment platforms and contribute to financing the government’s flagship projects, particularly in the infrastructure sector. With an initial capitalization of PHP125 billion in government securities, the MIF has the potential to attract co-investments and fully pay up its authorized capital stock of PHP500 billion, further enhancing its economic benefits.

The MIF is well-positioned to invest in various areas, including strategic sectors in the energy industry. Balisacan pointed out numerous investment opportunities, with 194 Infrastructure Flagship Projects under the “Build-Better-More” program.

As the country progresses toward becoming an upper-middle-income country, the MIF can serve as an alternative to debt financing. The MIF can attract equity financing when the Philippines no longer qualifies for concessionary loans like Official Development Assistance. This approach allows investors and the government to collaborate as development partners while freeing up other government funds for social development projects. The MIF’s primary focus will be financing profitable development projects through equity.

The establishment of the Maharlika Investment Fund marks a significant step forward in driving the country’s economic growth and achieving its developmental aspirations.

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