MANILA -- The Philippines' new sovereign wealth fund is now ready for its official launch, with President Ferdinand Marcos Jr.'s signature on a related bill this week. He sees the fund as key to promoting large-scale infrastructure development in the country, but it could also tarnish his reputation.
"The MIF is a bold step toward our country's meaningful economic transformation," Marcos said in a speech during the signing ceremony for the Maharlika Investment Fund on Tuesday. "Just as we are recovering from the adverse effects of the pandemic, we are now ready to enter a new age of sustainable progress, robust stability and broad-based empowerment," he added.
