MANILA, July 28 — Malaysian investors have expressed interest in the Maharlika Investment Fund (MIF), the Philippines’ first-ever sovereign wealth fund, President Ferdinand R. Marcos Jr. said.
He, however, noted that Malaysian investors are “the most careful of all” and want to know the specifics of the business before making any investment.
“Yes. All of them have expressed interest because that is business,” the Philippine News Agency (PNA) reported Marcos as saying to reporters on Thursday, the last day of his three-day state visit to Malaysia, when asked if Malaysian businessmen were interested to invest in the MIF.
The MIF is designed to catalyse economic development by mobilising government financial assets.
“You have to be specific. Once we get to that point, then we can talk about the amounts that are going to be invested both by the fund and, of course, by our private sector partners,” he said.
The MIF will be “run professionally and without undue political influence” and financial managers will make the daily decisions on investments, he added.
PNA also reported Marcos said that he is expecting the creation of more than 100,000 jobs for Filipinos after his state visit reaped US$285 million in investment pledges.
Marcos said Malaysian business leaders have expressed their intent to invest in the food processing industry, multi-service digital platforms, aviation and aviation maintenance support services in the Philippines.
They are also keen on investing in the logistics, manufacturing, infrastructure, water and wastewater treatment facilities in the country, he said.
The investment commitments, he said, would open new job opportunities, especially during the construction and operational phases of the planned projects.
“The downstream, upstream and downstream jobs will also increase and will maintain that job employment rate. So, when we start talking, when we start getting down to the details of the project, we can give you a better number in terms of jobs created,” Marcos said.
