PH on track to achieve agenda for prosperity...

To ensure that the Philippines becomes a “viable investment destination,” Pangandaman said the Marcos administration is keen on improving the country’s digital infrastructure, allocating around USD434.3-million funds to accelerate the digital transformation.

Pangandaman noted the issuance of Executive Order (EO) 29 this month to mandate the full adoption of the Integrated Financial Management Information System in government agencies to ensure the efficient delivery of quality services to the public.

She said EO 29 complements EO 170 issued in 2022 which directs the adoption of digital payments for government disbursements and collections.

“Here’s more good news—we are going digital,” Pangandaman said. “These twin EOs are big strides towards bureaucratic efficiency, encouraging the digitalization of government transactions. And soon, we hope to also pass the Progressive Budgeting for Better and

Modernized Governance Bill the institutionalization of Public Financial Management reforms such as the Cash Budgeting System.”

Pangandaman said the government is also working on building a “more agile, efficient, and responsive” government workforce through the National Government Rightsizing Program, which is intended to minimize and eliminate overlaps and duplication of functions and reduce costs, processing time, and other regulatory requirements in public transactions.

Maharika Investment Fund (MIF)

Pangandaman also briefed the Singaporean business leaders about the Congress’ approval of a bill creating the proposed MIF, which is envisioned as the Philippines’ first ever Sovereign Wealth Fund, the Maharlika Investment Fund.

She said the Marcos administration expects the launching of the MIF before yearend.

“We are really looking forward to seeing this boost economic development through