Davos, Switzerland – The Philippine delegation, led by House of Representatives Speaker Martin Romualdez, is set to promote the Maharlika Investment Fund (MIF) at the World Economic Forum (WEF) Annual Meeting 2024, held from January 15 to 19.
According to Philippines News Agency, the delegation aims to use the WEF as a platform to position the Philippines as a prime investment destination and to introduce the sovereign wealth fund, MIF, which is expected to play a significant role in the country's economic growth and job creation. "We are committed to leveraging this international platform to escalate the effort of the administration of President Ferdinand R. Marcos Jr. to promote the Philippines as an attractive and secure investment destination, ultimately benefitting the Filipino people with more jobs and business opportunities," Romualdez stated.
During the forum, Romualdez plans to emphasize key legislative reforms and ongoing initiatives under the Marcos administration that enhance the business environment and attract foreign investments. His agenda includes attending various WEF sessions and conducting bilateral meetings with global political and business leaders.
Romualdez expressed confidence that the interactions at the WEF would garner substantial interest and recognition for the MIF as a viable option for direct foreign investments. He also hopes to glean best practices from the world's leading sovereign wealth funds to ensure the MIF's growth and success.
The MIF, as the country's inaugural sovereign wealth fund, is designed to optimize national funds by generating returns to support the administration's economic goals. It aligns with the Marcos administration's 8-Point Socioeconomic Agenda for poverty reduction and the Philippine Development Plan 2023 to 2028, aimed at profound economic and social transformation.
The Fund's strategy includes investments in diverse assets such as foreign currencies, fixed-income instruments, domestic and foreign corporate bonds, joint ventures, mergers and acquisitions, real estate, high-impact infrastructure projects, and initiatives contributing to sustainable development, facilitating economic development and promoting intergenerational wealth management.