By Charles Dantes
President Ferdinand Marcos Jr. has signed the Maharlika Investment Fund Bill, to be known as Republic Act No. 11954, into law, a week before he delivers his second State of the Nation Address (SONA).
In the ceremonial signing at Malacanang Palace on Tuesday, Mr. Marcos called the signing of the MIF Bill a “bold step towards our country’s meaningful economic transformation” as the country recovers from the COVID-19 pandemic.
He added that it is an “extremely important measure” to help strengthen the country’s economy.
Under the law, the Maharlika Investment Fund (MIF) is an independent fund that seeks to generate government revenue through investments in real and financial assets.
The President said the funds generated through the MIF can be used for the development of agriculture and infrastructure, and the digitalization of the country.
He assured the public that the MIF will be managed by a highly competent person with a good track record and outstanding integrity.
“We will remain steadfast in our commitment to transparency, accountability, and good governance in this massive and purposeful undertaking,” the President said.