SPEAKER Ferdinand Martin G. Romualdez on Monday expressed confidence President Ferdinand “Bongbong” R. Marcos Jr. could successfully introduce the country’s sovereign wealth fund and promote the Philippines as an investment hub at the World Economic Forum in Davos, Switzerland.
In airing caution on Monday against a public presentation, especially in a high-profile global stage, Hontiveros said, “a soft launch is premature.” “Indonesia has been touring the international circuit because it has tens of billions of dollars worth of ready projects that have been individually structured to attract capital. Indonesia also had significant windfall from its petroleum and mineral exports—with which it has decided to seed the Indonesian Investment Authority. Unfortunately, we do not have either of these two,” she emphasized.
“We’ll talk about the Philippines, what the situation is as an investment destination. Now, added to that, we can talk about this sovereign wealth fund,” President Marcos explained when asked how he would introduce the MIF to the WEF participants. Romualdez, principal author of the measure, said HB 6088 includes adequate safeguard against possible abuse and fraud.
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