'Maharlika a good idea if done properly,' says Concepcion

If the proposed Maharlika Wealth Fund is done properly, it could actually work and would present vast investment opportunities, Go Negosyo Founder Joey Concepcion said.

The former presidential adviser for entrepreneurship stressed that if the sovereign wealth fund, whose creation is set to be deliberated by Congress as House Bill 6398, is able to address its trust and timing issues, it could present vast investment opportunities for the Philippines.

“We missed out on opportunities like Transco, Malampaya, BGC and Semirara because we didn’t have a fund like this when these were bidded out. Transco was already profitable, and then the private sector took it to another level. The land value now in BGC has skyrocketed, and Semirara’s productivity has increased. Imagine how much the country could have earned if we had a fund like this back then,” he added.

He further said that the fund should invest mainly in Philippine infrastructure and should limit its exposure to 10 to 20 percent in its investments.

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