President Ferdinand “Bongbong” Marcos Jr. said setting up a Philippine sovereign wealth fund is a “good idea” to leverage government assets and pursue big-ticket infrastructure projects, particularly in energy and agriculture.
DAVOS, Switzerland —
In his remarks, Marcos said the reason for setting up the Maharlika Wealth Fund was that there was not enough money in government “to do all the things that we needed to do.” According to the President, the proposed sovereign wealth fund will fund critical infrastructure projects, especially since the development the government is envisioning involves big-ticket items.
“The idea is that the sovereign wealth fund will play its part in encouraging also our PPPs. The rules have been changed by the NEDA … and that has made it much much easier now for investors to come in and to engage in PPPs,” Marcos said. “In that way, the wealth fund has a good future to be able, as I said, to succeed in doing what we want to do, which is leveraging what we have for these big-ticket investments,” said the President,” he added.
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