Statement of Economic Managers on the Creation of the Maharlika Wealth Fund

Seated (L to R): Senator Mark Villar; Special Assistant to the Secretary Antonio Lagdameo Jr.; Finance Secretary Benjamin E. Diokno; President Ferdinand R. Marcos Jr.; Former President Gloria Macapagal Arroyo; Mr. Sabin Aboitiz (President and CEO of Aboitiz Equity Ventures Inc.); Socioeconomic Planning Secretary Arsenio M. Balisacan; and House Speaker Ferdinand Martin Romualdez Standing (L…

Benjamin E. Diokno Secretary of Finance February 24, 2023 Dr. Bernie Villegas; Chairperson of Asia CEO Events Richard Mills; President of Asia CEO Events Rebecca Bustamante; our Congressman from the 5th District of Manila Irwin Tieng; ladies and gentlemen: good morning. The Maharlika Investment Fund, which shall be the country’s first-ever sovereign investment fund, is…

Finance Secretary Benjamin Diokno presented the Maharlika Investment Fund (MIF) as a tool for economic development to the business community during the Asia CEO Forum entitled “Maharlika Wealth Fund: Financing the Future” on February 24, 2023 at the Manila Marriott Hotel. “The Maharlika Investment Fund, which shall be the country’s first-ever sovereign investment fund, is…

The economic team, led by Finance Secretary Benjamin E. Diokno, held the seventh Philippine Economic Briefing (PEB) in Singapore on June 15, 2023 at the Fullerton Hotel to showcase the country’s robust growth and new investment opportunities. “We will harness private capital and expertise through the public-private partnership mechanism. This will be critical in upgrading…

Senator Mark Villar, Chairperson of the Committees on Banks, Financial Institutions and Currencies, sponsored on March 20, 2023 Committee Report No. 58, recommending the approval of Senate Bill No. 2020 or the proposed Maharlika Investment Fund (MIF) Act in plenary session. “As the Philippines’ first-ever sovereign wealth fund, it is designed to catalyze economic development…

Congress approved on May 31, 2023 the Maharlika Investment Fund (MIF) Act of 2023. The House of Representatives adopted the Senate version of the bill. SB 2020 was passed on third reading with 19 affirmative votes, one negative vote, and one abstention. “I thank our legislators for their thoughtful deliberation and timely approval of the…