The House of Representatives is working double time to speed up approval of the bill creating the country’s first ever sovereign wealth fund. | AldenMonzonINQ jiandradeINQ /PDI
He said he expected plenary discussions on HB 6398 to begin also on Monday and promised that the committee on ways and means, which he chairs, would approve the bill on the same day.Business support
“I think this is something we should do. I’m sure the government will put all the safeguards to this Maharlika fund. We have the freedom of information , and any individual or organization can request access for information about it,” Barcelon said. “Neutral for now, we are monitoring it, we are learning more, we don’t have many details yet. It’s a big issue with few details on the table,” said European Chamber of Commerce of the Philippines president Lars Wittig, adding that it was a big and important issue for them.
In contrast, Nobuo Fujii of the Japanese Chamber of Commerce and industry of the Philippines and Joseph Um of the Korean Chamber of Commerce of the Philippines said both their countries were still recovering from the dire economic effects of the pandemic, hinting disinterest in getting involved with the Philippines’ sovereign wealth fund.
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