President Ferdinand Marcos eyes four areas where the Maharlika Wealth Fund (MWF) could be invested in once its creation is legalized by Congress.
At the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Marcos told reporters that he sees the MWF as a funding source for investments in agriculture, energy, digitalization and climate change.
“Sasabihin ko exactly what’s happened that we are forming a sovereign wealth fund for… for big investments in the basic areas such as agriculture, energy, digitalization, climate change. The point being is that now, there is a wealth fund,” Marcos said.
The MWF will start with at least P75 billion in seed funding from the Land Bank and Development Bank of the Philippines, to be invested in various instruments to maximize returns.