Romualdez meets with wealth fund execs in Davos to boost Maharlika Fund

House Speaker Martin Romualdez on Wednesday said he has met with some sovereign wealth fund managers and policymakers in Davos, Switzerland during the World Economic Forum (WEF) to "explore" opportunities for the Maharlika Investment Fund (MIF).

In a statement, the Speaker said he met with the chief of Azerbaijan's state oil firm SOFAZ and the chair of Singapore state investment firm Temasek Holdings.

“These high-level engagements with international business leaders and policymakers in this years’ WEF annual meeting are invaluable as they provide us with opportunities to explore avenues for partnerships, collaborations, and investment opportunities to unleash the potential of the Maharlika Investment Fund for the benefit of the nation and our people,” Romualdez said.

“The exchange of ideas, best practices and insights on the management, investment policies and insights on sovereign wealth fund could prove invaluable in helping realize the vision of President Ferdinand R. Marcos, Jr. for the MIF,” he added.

Romualdez is one of the principal authors of the Maharlika Investment Fund law, which taps the assets of state-run corporations and banks for investments for the purpose of generating additional public funds.

TIMELINE: How the Maharlika Investment Fund came to be

Romualdez said he also met with his Swiss counterpart, Eric Nussbaumer, to further strengthen the ties between the two countries and discuss possible areas of enhanced partnership, including in the energy sector.

“The Philippines, under the administration of President Marcos, Jr. is firmly committed to pursuing an ambitious energy transition by harnessing the country’s renewable endowments, such as geothermal, hydroelectric, solar, and wind power, and exploring the potential of nuclear energy,” Romualdez said. — BM, GMA Integrated News