Maharlika Wealth Fund good for PH---Marcos

President Ferdinand “Bongbong” Marcos Jr. backed the controversial Maharlika Wealth Fund saying, it is advantageous to the Philippines.

Marcos, in an interview with reporters onboard the PR001 bound for Belgium, justified the creation of the wealth fund, stressing that it is a another way to get investments.

The chief executive also dismissed criticisms over the timing of the bill and the proposed sources of fund. House Bill No.6398 or the proposed Act establishing the Maharlika Investment Fund was filed on Nov. 28. It was branded as a “vehicle for investments.” The seed money for this is P250 billion which will be sourced out from government financial institutions.

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manilabulletin /  🏆 25. in PH

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