SPEAKER Ferdinand Martin G. Romualdez on late Saturday afternoon said the Philippines would welcome Malaysian investors to the Maharlika Investment Fund (MIF), the country’s first-ever sovereign wealth fund.
In a press briefing, Speaker Romualdez, the leader of the 312-member House of Representatives, confirmed that he would be part of President Ferdinand “Bongbong” Marcos Jr.’s delegation to Malaysia in the latter’s visit there slated from July 25 to 27.
Asked if the newly-enacted MIF would be among the topics to be discussed during the three-day visit along with the prospects of having Malaysian businessmen invest on the fund, Speaker Romualdez
answered: “Very much so, we’ll be very much open to that.”
The highest ranking leader of the House of Representatives went on to explain why it makes sense for foreign investors to choose the Philippines and its MIF.
From where he sits, Speaker Romualdez said the MIF is “not only beneficial but necessary,” in light of the fact that the country is now a “growing economy” who needs to entice foreign investors for
purposes of ramping up the improving and recovering local economy.
“Isipin mo na lang ‘to, kung mayroon kang kapital, ‘yung isang bansang may kapital, saan mo dadalhin? Eh ‘di siyempre dadalhin mo sa isang bansa kung saan mataas ‘yung growth, ‘di ba?” Speaker Romualdez, the administration stalwart and President of the dominant Lakas-Christian
Muslim Democrats (CMD), said, touting the country’s economic growth under the Marcos administration.
“While the Philippines can also offer investment opportunities, we see that the cost of debt has risen, making the need to explore other vehicles to attract equity financing such as Maharlika Investment
Corporation,” Speaker Romualdez, president of the Philippine Constitution Association (Philconsa) or the oldest association of legal luminaries in the country, said.
“This will be a very, very important vehicle to attract more resources and investments into the country, to supplement our resources that is provided for in the national budget for developmental initiatives,
infrastructure, in the power and agriculture sectors,” he added.
