President Ferdinand Marcos Jr. made a pitch for the Maharlika Investment Fund before investors and foreign personalities in Singapore.
Marcos flew to Singapore on his birthday Wednesday (September 13) to talk at the 10th Asia Summit organized by The Milken Institute.
In his speech, the President said the MIF will be a new way for the Philippines to utilize its reserves.
“We looked internally and saw what are the reserves that we have that are not being – at least in our view – were not being used,” he explained. “I think we all are familiar with the concept, that money cannot sit in the bank and do nothing. It must work.”
Marcos said proceeds of the fund will be invested in infrastructure, energy development, and agriculture.
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