President Ferdinand Marcos Jr's economic managers brief investors in Singapore about their plans, including the Maharlika Investment Fund, as well as the country's growth prospects.
MANILA, Philippines – Philippine President Ferdinand Marcos briefed Singaporean business leaders about economic developments in the country, including the contentious Maharlika Investment Fund, as well as flagship infrastructure projects, in a bid to entice them to consider investing.
Diokno told investors the Maharlika fund will be an important addition to the country’s existing funding mechanisms, with the aim of promoting socioeconomic development through investments in strategic, high-return, high-impact sectors. Some of the Philippines’ renowned economists have publicly criticized the Maharlika fund, including faculty of the University of the Philippines School of Economics going as far as saying the fund “violates the principles of economics and finance” due to its vague provisions and lack of focus.Marcos’ economic team pushed back, saying that the Maharlika is aligned with the country’s medium-term fiscal framework and eight-point socioeconomic agenda.
Economic managers also highlighted the country’s declining inflation rate, lower corporate income taxes, and its more liberal business environment.
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