AS the ball is now in the economic managers’ court, Rep. Jose Ma. Clemente “Joey” S. Salceda called on government’s economic managers to commit to listing the Maharlika Investment Fund in stock markets here and abroad and engaging strategic partners among multilateral banks as a way to ensure good corporate governance and oversight and to leverage private sector funding.
According to Salceda, the final version that was sent to President Ferdinand R. Marcos Jr. “is silent about public listing, but it implies it.” “And of course, we should allow the public to contribute to and share in the success of the MIF. What better way than to list in the stock exchange?” he said.Salceda also said that the MIF could “improve the lackluster performance” of the Philippine Stock Exchange Index.
“Across Asean-6 [Association of Southeast Asian Nations plus six other economies], we have the fewest public companies; at just 286. Even Vietnam, a communist country, has 745 companies in their stock exchange,” he added. Salceda also urged the economic managers to engage international financial institutions “at the outset.”
“Engaging these banks also gives you global exposure, technical assistance and support and international credibility. They should be our partners from the very start,” the lawmaker added.SALCEDA also called the MIF as the President’s potential economic superpower or super-tool.
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