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PH eyes 80 infra projects through Maharlika fund

(UPDATE) PRESIDENT Ferdinand Marcos Jr. on Thursday said the government is eyeing to finance «about 80 potential infrastructure projects» through the Philippines' sovereign wealth fund, the Maharlika Investment Fund (MIF).

In his speech during the Philippine Economic Briefing (PEB) at the sidelines of the Asia Pacific Economic Cooperation (APEC) Summit in San Francisco, Marcos said he is looking forward to the MIF's operationalization, expected by the end of the year.

«It will serve as an additional source and mode of financing for priority projects of the government, including the infrastructure flagship,» Marcos told potential investors in the Asia-Pacific region.

«These projects offer high returns and significant social economic impact. Currently, we have identified about 80 potential infrastructure projects that are financeable through that fund, the Maharlika Investment Fund,» he added.

With the country's solid economic reform agenda, Marcos told investors that the Philippines «is ready to take off as a leading investment hub in Asia.» «A wealth of opportunity awaits you in the Philippines. And we are ready to explore new horizons or investments in the coming years,» he said.

Marcos said his administration is focused on boosting productivity with «much improved» infrastructures through its «Build Better More» Program to attract investments that will uplift the living condition of Filipinos. When asked about his plans to facilitate international partnerships and collaborations for the benefit of Philippine businesses, the President said the government is working to address the shortfall in physical connectivity. He stressed the need to improve connectivity and supply chain to help the Philippines regain its leading role in Southeast Asia before the Covid-19 pandemic.

«The economy is well. I know we've heard it many times but I think today, without fear of contradiction, we can absolutely say that the economy is truly global and we must again view all that we do in that context,» he added.

Marcos said that investing in digital infrastructure would result in financial transactions convenience and increased productivity.

«That is what we're really going for because