Marcos presents Maharlika to Saudi business players

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RIYADH: President Ferdinand Marcos Jr. has presented the country’s sovereign investment fund to investors in Saudi Arabia despite suspending its implementation to review its provisions.

Marcos said he looks forward to “benefiting not just from Saudi investments, but also from the Kingdom’s extensive experience in managing such funds.”The President made the statement at a roundtable meeting with Saudi’s business leaders shortly after his arrival to the oil-rich country. The meeting aimed to encourage them to explore investment opportunities in the Philippines.

SPONSORED CONTENT Daily Express members: Enjoy 1 for 1 signature cocktails and more at Hyatt Centric Kota Kinabalu Kota Kinabalu: DAILY EXPRESS is partnering with Hyatt Centric Kota Kinabalu to offer an exclusive deal for our members. Read more Also speaking at the meeting, Finance Secretary Benjamin Diokno echoed the president’s eagerness in looking forward to investments for the said funds.

Saudi Arabia’s Minister of Investment Khalid Al-Falih, for his part, said the country has a highly successful banking sector and several funds are looking to expand investment both locally and internationally. “I am pleased that we are joined today by leaders in this sector from Saudi Arabia who are eager to hear more of investment opportunities in one of ASEAN’s most exciting markets and learn more about the newly launched Maharlika Investment Fund under your administration,” he said.

Marcos says the recent move that suspends the implementation of the Implementing Rules and Regulations of the Republic Act 11954 is in fact just “ways to make it as close to perfect and ideal as possible”.

 

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