Philippine sovereign fund a double-edged sword for Marcos

President touts infrastructure potential, but critics worry about graft

20230721 Philippine President Ferdinand Marcos Jr

All eyes are on whether Philippine President Ferdinand Marcos Jr.'s Maharlika Investment Fund can give the country's infrastructure a big push. (Photo by Koji Uema)

YUICHI SHIGA, Nikkei staff writer

July 22, 2023 11:30 JST

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.