President Bongbong Marcos has signed the Maharlika Investment Fund into law today, July 18, 2023.
The said bill will now be known as Republic Act 11954.
“The signing of the Maharlika bill shows that economic recovery is one of PBBM’s major priorities. Through this we will be able to generate more jobs for the Filipino people and provide appropriate funding in sectors left behind such as agriculture, energy, health, information technology and infrastructure.” Villar said
The Maharlika Fund is the country’s first-ever sovereign investment fund which will be a vehicle for attaining new investment opportunities.
“The MIF is a historic legislation. We are now at par with other countries who also have their own sovereign wealth fund.” Villar said
The MIF is aligned with the Medium-Term Fiscal Framework (MTFF) and the 8-Point Socio-economic Agenda of the current administration which also operationalizes the Philippine Development Plan 2023 – 2028.
“We are in full support for the current administration’s goal to push for economic recovery and uplift the livelihood of all Filipinos” Villar added.
