The revised implementing rules and regulations (IRR) of the controversial Maharlika Investment Fund Act of 2023 that creates the country's first sovereign wealth fund were approved on Friday, November 10, 2023, paving the way for the fund's implementation which, President Ferdinand Marcos Jr. has said, will be within the year. On Monday, Nov. 13, Marcos appointed Rafael D. Consing Jr.
, executive director of the Office of the Presidential Adviser for Investment and Economic Affairs, as president and chief executive officer of the Maharlika Investment Corp., the government-owned and -controlled corporation (GOCC) that will govern and manage the sovereign wealth fund
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Rafael Consing Jr. is Maharlika Investment Corp. chiefPresident Ferdinand Marcos Jr. has appointed Rafael Consing Jr. as President and Chief Executive Officer of the Maharlika Investment Corporation.
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