Metro Manila (CNN Philippines, October 21) — Saudi Arabia and other Gulf countries have expressed interest in investing in the Maharlika fund after President Ferdinand Marcos Jr. introduced the sovereign wealth fund, Malacañang said Saturday.
In a statement, the Palace said the Maharlika Investment Fund (MIF) received “positive response” from leaders of Gulf countries on the sidelines of the Association of Southeast Asian Nations-Gulf Cooperation Council (ASEAN-GCC) Summit in Saudi Arabia this week.
Talking to reporters there, Marcos said he was “very encouraged and quite happy” by the reaction from other governments.
Gusto talaga nila na magkaroon, na tumulong at makilahok sating investment dahil naipakita naman natin na magandang investment talaga para sa kanila ito,” he said.[Translation: They really want to help and participate in our investment because we have shown that it is really a good investment for them.]I’m confident that once we get it operationalized, once we are able to start talking in detail with not only the investment funds but even private corporations and other governments as well, and that is, that is precisely the role that we have envisioned for, for the sovereign fund, the Maharlika Fund. And that is what the direction that it has taken,” Marcos added.Before flying to Saudi Arabia, the president clarified that the suspension order on the MIF’s implementing rules was only meant to improve its organizational structure.
