The day it was passed, the President said other funds could come in later if they like it. The way I read the law, there is no provision for that.
As I wrote last week, if we had to have a government-funded investment fund, I wish it was a national development fund. That is not what Maharlika is. It could be implemented that way, but what it is as passed is some hybrid fund whose direction is open to the board and managers, which can change with each new board and management. I have previously said I am supportive of a national development fund that is structured in a manner like that of Indonesia.
That is why the successful sovereign funds when they first ventured outside their home country initially invested as limited partners in established firms and then started their own initiatives. Let us not forget that Temasek and GIC have north of 40-year history and carefully expanded their scope and expertise in steps and over decades.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
State pension firms investing in Maharlika bill or ‘any of its activities’ can be held liableFormer Senate President Franklin Drilon warned those prohibited to invest in the projects of the Maharlika Investment Fund that they could be held liable if they invest in it or in any of its activities. | MAgerINQ
Read more »
Maharlika can fund crucial gov’t projectsInfrastructure development is crucial in the growth strategy of President Ferdinand R. Marcos Jr.’s administration. Among the infrastructure projects that are being prioritized are those that would improve physical and digital connectivity, water resources, health, energy, and agriculture.
Read more »
Maharlika Fund eyed for P8.3-trillion infra projects“We want the Maharlika Fund to be able to finance some of them, not all of them okay? We have identified another source of funding for this very important infrastructure project that will make a difference in the landscape of the Philippine economy,” Finance Secretary Benjamin Diokno said.
Read more »
Freedom from hunger, poverty, fear, injustice: A continuing endeavorThe Preamble of the Philippine Constitution serves as a timeless reminder to all Filipinos that building a democratic nation is a continuing endeavor:
Read more »
Conflicting provisions won’t affect validity, constitutionality of MIF, says DrilonDespite containing conflicting provisions, the controversial Maharlika Investment Fund bill is still considered valid and may be transmitted to the President for signature, former Senate President Franklin Drilon said. | MAgerINQ
Read more »
Ex-president Rodrigo Duterte dares entire PNP to resign; AFP to takeoverFormer president Rodrigo Duterte has dared the entire Philippine National Police to resign, accusing the agency of being the “gatekeeper” of the illegal drug trade in the country.
Read more »