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The Maharlika Investment Corporation (MIC) is set to apply for Associate Membership in the International Forum of Sovereign Wealth Funds (IFSWF) to strengthen transparency and good governance, after the proposal was approved during the fourth MIC board meeting presided by Finance Secretary and MIC Chairperson Ralph G. Recto on February 29, 2024.
The Philippines, which currently sits as chair of the Intergovernmental Group of Twenty-Four (G-24) Board of Governors, led the G-24 Technical Group Meetings (TGMs) through the leadership of the Department of Finance (DOF) from February 21-22, 2024 in Manila to tackle global challenges.
Bangko Sentral ng Pilipinas (BSP) Governor and Financial Stability Coordination Council (FSCC) Chairman Eli M. Remolona, Jr. (third from left) leads the launch of the 2023 Financial Stability Report (FSR) at the BSP head office in Manila on 13 February.
Finance Secretary Ralph G. Recto began his series of worksite visits on official development assistance (ODA)-funded infrastructure projects to ensure their efficient implementation, starting with the Metro Manila Subway on February 26, 2024.
Finance Secretary Ralph G. Recto has urged the Philippine Stock Exchange (PSE) to work with the government in transforming the country’s capital market as a vehicle for ordinary Filipinos to become shareholders in the nation’s growth.
Finance Secretary and Chair of the Intergovernmental Group of Twenty-Four (G-24) Board of Governors Ralph G. Recto has urged member states to reclaim their lost momentum and make a powerful comeback in the race to 2030 through heightened cooperation and scaled-up support from international financial institutions to weather global challenges.
In line with President Ferdinand R. Marcos, Jr.’s directive for the government to roll out a ‘red carpet’ for investors, the Fiscal Incentives Review Board (FIRB) has unanimously approved a resolution increasing the investment capital threshold for projects handled by Investment Promotion Agencies (IPAs) from PHP 1 billion to PHP 15 billion.
Finance Secretary Ralph G. Recto has welcomed the Manila International Airport Authority (MIAA) Board’s recent approval to award a contract to a winning private sector consortium bidder for the rehabilitation of the Ninoy Aquino International Airport (NAIA)––the largest solicited Public-Private Partnership (PPP) project under President Ferdinand R. Marcos, Jr.