New York City celebrates Philippine...

Session this month, the 19th Congress had approved 33 out of the 42 priority measures of the Marcos administration, three of which have been signed into law.

He cited the Maharlika Investment Fund bill, which seeks to create the country’s first-ever sovereign investment fund, as an example of approved measures. This fund, Romualdez noted, “is designed to promote economic development by making strategic and profitable investments in key sectors including public road networks, tollways, green energy, water, agroindustrial ventures, and telecommunications.”

As the bill awaits Marcos’ signature, it is expected to become a major funding source for the administration’s large-scale infrastructure projects.

Romualdez noted that the ongoing global conflicts and the pandemic have caused financial disruptions and reversed the country’s economic gains, necessitating an aggressive approach to expanding the country’s revenue sources.

(By Antonio Iñares/Inquirer. net) n