The President made his remarks during a sit-down conversation with former Australian trade minister Steven Ciobo at the 10th Asia Summit hosted by the Milken Institute in Singapore.
Asked how the funding will be used, Mr. Marcos said it will be used “to transform” the country’s economy. Earlier, the President also said through the MIF, the Philippines would be a gateway of possibilities in the area of investment.“We have also recently launched our own sovereign wealth fund, the Maharlika Investment Fund. The fund is designed to consolidate investible funds from government financial institutions to further drive economic development through strategic investments both domestically and overseas,” he added.
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