Marcos to Australian biz leaders: Maharlika Fund is PH dedication to finance priority projects

MELBOURNE, Australia - President Ferdinand ''Bongbong'' Marcos Jr. on Monday told Australian business leaders that the Maharlika Investment Fund is his administration's dedication to get sufficient funds for priority programs. 

During the Philippine business forum, Marcos said the country's overhaul of fiscal incentive structures and responsive policies play a pivotal role in promoting private sector participation.

''Furthermore, there is the establishment of the Maharlika Investment Fund, our sovereign wealth fund that underscores our dedication to financing priority projects and driving socioeconomic impact,'' Marcos said.

''The key principle that we have adopted, the very fundamental principle that we have adopted, was to consider the private sector as partners in the development of our--- on the transformation and development of our economy,'' he added. 

Marcos also said the government prioritizes the ease of doing business as it aims to exemplify efforts to simplify tax payments, streamline regulations, and showcase the Philippine government's unwavering support for businesses.

Earlier, Trade and Industry Secretary Alfredo Pascual said a total of $1.53 billion investment were sealed between the Philippines and Australia at the sidelines of the ASEAN-Australia Special Summit.

Pascual said the agreements signify the Philippine government's unwavering commitment to excellence and fruitful partnerships ''spanning diverse sectors such as renewable energy, waste-to-energy technology, organic recycling technology, countryside housing initiatives, establishment of data centers, manufacturing of health technology solutions, and digital health services.''—AOL, GMA Integrated News