Maharlika IRR finalized – Marcos

PRESIDENT Ferdinand Marcos Jr. on Monday said the implementing rules and regulations (IRR) of the Maharlika Investment Fund (MIF) have been finalized.

The confirmation came weeks after Malacañang ordered the temporary suspension of its implementation to «make it as close to perfect and ideal as possible.»

«The Investment Rules and Regulations of Maharlika Investment Fund have been finalized,» Marcos posted on his official social media accounts. «Upon our approval, we'll swiftly establish the corporate structure, getting the MIF up and running,» he added.

Before his visit to Saudi Arabia late last month, Marcos maintained that the MIF's concept «remains a good one» and that his administration is «still committed to having it operational by the end of the year.»

As stated on Republic Act 11954 or the «Maharlika Investment Fund of 2023,» the MIF shall be used to infuse capital in a wide range of assets, including foreign currencies, fixed-income instruments, domestic and foreign corporate bonds, joint ventures, mergers and acquisitions, real estate and high-impact infrastructure projects that contribute to the attainment of sustainable development. KRISTINA MARALIT