DOF’s Diokno: Maharlika Investment Fund operationalization seen early 2024

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The operationalization of the Maharlika Investment Fund is now expected by early next year instead of the initially anticipated December 2023, Finance Secretary Benjamin Diokno said Tuesday.

Speaking at the Philippine Economic Briefing, Diokno said the implementing rules and regulations of the MIF are now being crafted and expected to be carried out by next month.

In his speech, Marcos stressed that the MIF is a bold step towards the country's meaningful economic transformation as the Philippines recovers from the ill effects of the COVID-19 pandemic. "Through the fund we will leverage on a small fraction of the considerable but underutilized investable funds of the government and stimulate the economy without the disadvantage of adding additional fiscal and debt burden," he added.reasonable to expect that the Maharlika Investment Fund would be running by the end of this year“The law says we have 90 days to prepare the implementing rules and regulations.

“We still have to produce the IRR, we still have to organize the team, we still have to hire and look for people, you know… We need to hire to man this corporation, MIC, with international and good reputation,” he said on the sidelines of the briefing.

 

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