The economic managers of President Ferdinand 'Bongbong' Marcos Jr.'s administration are backing the creation of the Maharlika Wealth Fund as they vouch for the sovereign fund’s benefits for the near and medium term.
The economic managers of President Ferdinand "Bongbong" Marcos Jr.'s administration are backing the creation of the Maharlika Wealth Fund as they vouch for the sovereign fund’s benefits for the near and medium term.
“We, the economic managers of Marcos Jr. administration, strongly support the creation of the Maharlika Wealth Fund as a vehicle to move forward the Agenda for Prosperity and achieve the economic goals of the administration for the nation,” the economic managers said as read by the Finance chief. The creation of the Maharlika Wealth Fund is contained in House Bill No. 6398, filed by House Speaker Ferdinand Martin Romualdez, and Ilocos Norte 1st District Representative Ferdinand Alexander “Sandro” Marcos III, both relatives of President Marcos.
“We are likewise grateful to have a President who also recognizes the benefits of a Sovereign Wealth Fund,” the economic managers said.Direct benefits of the proposed wealth fund include “increased investments in and funding of big-ticket infrastructure projects, high-return green and blue projects, and countryside development, including agriculture.”
"We thank our legislators for their hard work and openness in continuously improving the bill, and for their continued support in the passage of our economic and fiscal reforms, including the amendments to several economic liberalization measures and our tax reform programs," they added.
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