Marcos to pitch Maharlika fund in 'soft launch' at World Economic Forum

President Ferdinand "Bongbong" Marcos Jr. gave a press briefing in Indonesia.

The STAR / Alexis Romero

MANILA, Philippines — The proposed Maharlika Wealth Fund will be “soft launched” by President Ferdinand “Bongbong” Marcos Jr. while attending the World Economic Forum in Davos, Switzerland next week.

While the House of Representatives has already approved the bill to create the sovereign fund, the Senate has yet to deliberate on it. Also dominated by administration allies, the Senate has identified the bill as among its legislative priorities for this year.

"The World Economic Forum is simply a great venue to do sort of [a] soft launch for our sovereign wealth fund, given the prominence of the forum itself and the global and business leaders who will be there and they will hear it directly from the president," Carlos Sorreta, undersecretary for Multilateral Affairs and International Economic Relations at the Department of Foreign Addairs, said in a press briefing on Thursday. 

Full Story: https://www.philstar.com/headlines/2023/01/12/2237132/marcos-pitch-maharlika-fund-soft-launch-world-economic-forum