Metro Manila (CNN Philippines, October 16) – Discussions on the Maharlika Investment Fund (MIF) and unpaid salaries of overseas Filipino workers (OFWs) are two of the Philippines’ agenda in the upcoming bilateral meeting with Saudi Arabia on Oct. 20, the Department of Foreign Affairs said Monday.
The Philippine contingent led by President Ferdinand Marcos Jr will meet their counterparts in Saudi Arabia during the inaugural Association of Southeast Asian Nations (ASEAN) and Gulf Cooperation Council (GCC) summit, which aims to strengthen the two regions’ ties established in 1990.
“Part of the discussion could be the presentation of the Maharlika Fund to the Kingdom of Saudi Arabia and its businesses,” DFA Assistant Secretary Daniel Espiritu told reporters.
The controversial MIF is a sovereign wealth fund that the government targets to use for investments and infrastructure projects, but some lawmakers reject the MIF, citing its ill-timed and rushed creation.
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Espiritu also said labor reforms to protect OFWs will also be tackled with Saudi Arabia, including their unpaid salaries.
“I cannot give the detail yet kasi (because) these things are still under discussion, but it will be part of the bilateral meet between Saudi Arabia and the Philippines,” Espiritu said.
Foreign Affairs Undersecretary Eduardo de Vega earlier said it “is not realistic to expect” that the unpaid wages of over 10,000 overseas Filipino workers in Saudi Arabia will be settled this year.
READ: DFA: Settlement of unpaid wages of over 10,000 OFWs in Saudi Arabia not expected this year
