Metro Manila (CNN Philippines, January 17) — Finance Secretary Benjamin Diokno on Tuesday presented to economic leaders in Switzerland the Marcos administration’s plan to establish a sovereign fund “to support the goals set” for the Philippines.
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According to Malacañang, Diokno told attendees of the luncheon gathering in Davos, Switzerland that the Philippines is taking its first steps toward launching the Maharlika Investment Fund (MIF).
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“The fund, which will be established in keeping with the highest standards of accountability and sound fiscal management, aims to diversify the country’s financial portfolio,” the Finance chief said.
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Diokno also said he looks forward to discussing the proposed MIF during the World Economic Forum (WEF).
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“May the next few days bring forth more intensive collaboration and cooperation towards genuine economic transformation,” he added.
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President Ferdinand Marcos Jr. earlier said he plans to introduce the MIF to global and business leaders during the WEF.
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Foreign Affairs Undersecretary Carlos Sorreta said the forum is “a great venue to do sort of a soft launch” for the MIF.
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RELATED: Pimentel: Marcos’ ‘soft launch’ of Maharlika fund at WEF is ‘premature’
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