represents the bank’s share in the initial seed capital in the Philippines’ pioneering sovereign wealth fund.
Under the law, the national government, DBP and Landbank of the Philippines are mandated to provide the initial capital of the MIC, contributing P50 billion, P25 billion and P50 billion each respectively. He said numerous foreign and domestic investors were eagerly awaiting the full establishment of the MIC, as the national government is expected to complete the process of appointing highly-qualified and capable individuals who will comprise the MIC governing board.
He said the corporation should be able to optimize the use of the government’s financial assets to generate substantial returns and support infrastructure projects in order to promote efficient management of wealth and assets.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Maharlika fund to open end-2023 as Landbank, DBP give P75-billion capital‘It is not run by the government. It is run by professional fund managers, and that is one of the main assurances that I had to give,’ President Ferdinand Marcos Jr. also says about the Maharlika fund
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Maharlika Pilipinas Volleyball Association looking to showcase homegrown talentJoining teams are mostly comprised of local government units including Marikina, Caloocan, Rizal, Biñan, Manila, Bucalan, Quezon City, Blue Hawks and the only Mindanao province competing Agusan de Norte which will follow the same Maharlika Pilipinas Basketball League (MPBL) home-and-away format, making up more or less 65 games in its first season.
Source: manilabulletin - 🏆 25. / 51 Read more »
Politicians barred from handling Maharlika FundPresident Ferdinand Marcos Jr. said there would be no politicians involved in the handling of the Maharlika Investment Fund (MIF)
Source: MlaStandard - 🏆 20. / 55 Read more »
Marcos talks to more foreign bizmen, pitches Maharlika fundPRESIDENT Ferdinand Marcos Jr. invited on Wednesday, September 13, 2023, foreign businessmen to invest in the Philippines as he pitched the newly approved law for the creation of...
Source: sunstaronline - 🏆 18. / 59 Read more »
Race on for MIC directors, several applications filedThe race is on for the board of directors of the Maharlika Investment Corp. (MIC), the governing body of the
Source: MlaStandard - 🏆 20. / 55 Read more »
Pampanga, Makati trounce MPBL rivalsPampanga and Makati geared up in the fourth quarter and sped away to victories in the OKBet-Maharlika Pilipinas Basketball League (MPBL) Season 5 on Thursday, September 14, at the Bataan People's Center in Balanga City, Bataan.
Source: TheManilaTimes - 🏆 2. / 92 Read more »