Marcos Signs Philippines’ Wealth Fund Bill Into Law
- Maharlika Investment Fund to boost investment, economy: Marcos
- Fund to invest in infrastructure, currencies, bonds and stocks
Ferdinand Marcos Jr.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Philippine President Ferdinand Marcos Jr. on Tuesday signed into law a bill creating a sovereign wealth fund, marking a key legislative win for his administration after months of debates and controversy.
Marcos enacted the measure creating the Maharlika Investment Fund, which is envisioned to pool funds from state banks and government-controlled corporations. The money will be invested in currencies, bonds, equities and infrastructure projects.