The leadership of the House of Representatives on Monday proposed the creation of Maharlika Wealth Fund, a sovereign wealth fund (SWF), to maximize the profitability of investible government assets. Know more:
THE leadership of the House of Representatives on Monday proposed the creation of Maharlika Wealth Fund, a sovereign wealth fund , to maximize the profitability of investible government assets.
The proposed Maharlika Wealth Fund is patterned after the SWFs of 49 countries, including Singapore, China, Hong Kong, South Korea, Malaysia, Indonesia, Taiwan, Vietnam, and East Timor. He said the proposed MWF “will provide for the management, investment, and use of the proceeds of the fund.” The Speaker cited the cases of Singapore and Indonesia that have successfully used their sovereign wealth funds.
“As the Philippines secures its place not only as the Rising Star of Asia but as a real economic leader in the Asia Pacific, the creation of the MWF becomes imperative,” Romualdez said.
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