Congress leaders view the Maharlika Investment Fund (MIF) Act, signed into law on Tuesday, as an additional vehicle for financing big-ticket infrastructure projects without incurring more foreign debt or imposing new taxes. Know more:
CONGRESS leaders view the Maharlika Investment Fund Act, signed into law on Tuesday, as an additional vehicle for financing big-ticket infrastructure projects without incurring more foreign debt or imposing new taxes, describing it as the country’s “bridge” between trillions in investible funds and thousands of investable development projects.
“It is envisioned to enable the government to execute and sustain high-impact and long-term economic development programs and projects without imposing new or higher taxes,” Romualdez added. For one, he said, he would pitch for MIF funding the Cavite-Bataan bridge, a toll bridge that will cut off travel time from three or four hours for those originating from the south “that now have to go through NLEX , all the way to Bulacan, going to Bataan.”
“That needs to go somewhere productive in order to contribute to the economy. The Maharlika Investment Fund is a vehicle to do that—for both the LandBank and the DBP, as well as for other banks,” Salceda said.
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