Articles worth reading

Marcos promotes excellence in design creativity 

account_balanceMetro Manila access_time4 days ago

Underscoring the importance of the local creative industries to the economy and job generation, President Ferdinand R. Marcos Jr. on Friday urged industry stakeholders and partners to collaborate in strengthening the design community and forge tie up...

TESDA, UPM to develop training court on biomedical equipment servicing 

account_balanceMetro Manila access_time4 days ago

The Technical Education and Skills Development Authority (TESDA) and the University of the Philippines - Manila (UPM) will work together in developing a training course on biomedical equipment servicing, specifically targeting new and state-of-the ar...

Bill on 5-year PRC ID validity advances in the House

account_balanceMetro Manila access_time4 days ago

The House of Representatives on Wednesday overwhelmingly passed on the third and final reading a measure providing for a five-year validity period of the professional identification cards issued by the Professional Regulation Commission (PRC), a...

Metro News

Revised Maharlika IRR ensures accountability, openness 

account_balanceMetro News account_circleSinagtala chat_bubble_outline0 Comments

The recently released implementing rules and regulations (IRR) of the Maharlika Investment Fund (MIF) will make sure that there will be accountability, openness, and efficacy in carrying out the law, according to Department of Budget and Management Secretary Amenah Pangandaman on Sunday.

Pangandaman said President Ferdinand R. Marcos Jr. had assured that the members of the Maharlika Investment Corporation (MIC) Board, whose primary job is to rule and administer the MIC, its assets, and investments by law, “will have the necessary freedom to oversee the fund without undue political interventions that will impede its fulfillment of functions.”

"I am glad of this development, as this shall allow the MIC Board to have the liberty and flexibility to fulfill its mandate, and explore beneficial investment opportunities while adhering faithfully to the letter of the law and ensuring high-impact investments that are in line with the country’s socioeconomic development policies and programs," she said in a statement.


Pangandaman is optimistic that the MIF will be functional by the end of the year.

The MIC, created under Republic Act (RA) 11954 or the Maharlika Investment Fund Act of 2023, shall act as the sole vehicle for mobilizing and utilizing the MIF for investments in transactions to generate optimal returns on investments while reinvigorating job creation and accelerating poverty reduction by sustaining the economy’s high growth trajectory, Pangandaman said.

The MIC will identify financially and commercially viable infrastructure projects to invest in and will formulate investment strategies covering emerging megatrends, such as environment, social and governance, digitalization, and health care.

"As a member of the Philippine economic team, I commit my full and unequivocal support for the smooth implementation of the MIF’s IRR, with trust and confidence that MIF’s managers will perform their duties and responsibilities to the best of their abilities for the good of the nation," Pangandaman said.


President Marcos signed RA 11954 into law in July, establishing the country's first ever sovereign investment fund.

Members of the economic team earlier said the MIF is expected to widen fiscal space, ease the burden on local funds, and reduce reliance on official development assistance in funding big-ticket projects, such as those specified in the recently approved Infrastructure Flagship Project list.

date_rangeDate Published
3 months ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Residents Receive Land Titles from Mayor Marcy Teodoro

account_balanceMarikina chrome_reader_mode5 days ago

In a heartwarming event in Marikina Heights, seven residents of Park 14 saw their dreams come to fruition on Monday morning. The fulfillment of their aspirations unfolded as Mayor Marcy Teodoro personally signed and handed over land titles to the des...

Comelec's 2025 polls automation project awarded to Korean firm

account_balanceMetro Manila chrome_reader_mode4 days ago

The Commission on Elections (Comelec) said Thursday it has awarded the P18-billion contract for the automation project of the 2025 midterm polls to lone bidder Miru Systems Co. Ltd., according to a report by Philippine News Agency. “Via a...

Marikina's Facebook page hacked

account_balanceMarikina chrome_reader_mode4 days ago

An investigation is now underway into the hacking of the official Facebook page of the city government of Marikina, Mayor Marcelino Teodoro said in a report by Philippine News Agency. In a phone interview, Teodoro said the Facebook page of the Marik...

Mayor Olivarez Expresses Gratitude for Rotary's Child Center Donations

account_balanceParañaque chrome_reader_mode2 days ago

Mayor Eric L. Olivarez expressed gratitude during a poignant ceremony at Parañaque City Hall Grounds as the city received a donation of essential equipment for 135 child development centers. The generous contribution, including interactional ...

Click on the article to continue reading
Quezon City adopts no contact apprehension system Red Cross pushes saliva test Vaccines from COVAX to arrive in Q1 Makati Shangri-La to close doors on Feb. 1 Cities in NCR to start vaccination simultaneously Mother, girlfriend of Filipino infected with UK variant also test positive Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature