President Ferdinand ‘Bongbong’ Marcos Jr. on Thursday said that he will be signing the measure that seeks to create a Maharlika Investment Fund (MIF) or sovereign wealth fund as soon as he receives it.
"I will sign it as soon as I get it. Am I happy? Well, that is the version that the House and the Senate have passed. We will certainly look into all the changes that have been made," he said during a media interview on the sidelines of the 85th Anniversary of the Securities and Exchange Commission (SEC) in Makati City.
Marcos said he believes that Congress has emplaced "safety and security" for the public's pension funds.
The President mentioned that "management" is key to the success of any fund.
"Itong mga eskandalo na nakikita natin sa ibang lugar. On the other hand, we sees examples of really sucessful funds. The difference is the management," he pointed out.
Marcos said he ensured that the MIF will be independent from the national government, which was why he said that he requested to remove himself and other government agencies as part of the Maharlika board.
"It has to operate as an independent fund, well managed professionally. Kung corrupt ang ilalagay mo dyan, mawawala ang pera. Kung mahusay ang ilalagay mo dyan, e lalaki at lalaki ang pera, magagamit natin ang pondo," he noted.
On Wednesday, Senate President Juan Miguel 'Migz' Zubiri on Wednesday signed Senate Bill 2020, or the Maharlika Investment Fund Act at the Philippine Embassy in Washington, United States (US).
Earlier, Marcos Jr. certified the MIF Act as his administration's priority measure.
The enrolled bill will be sent to House Speaker Martin Romualdez for his signature, and once signed, it will be transmitted to the Office of the President (OP).
