Malaysians to get 1st crack at MIF

By Othel V. Campos and Rio N. Araja

THE administration will present the Maharlika Investment Fund to Malaysian investors during President Ferdinand Marcos Jr.'s three-day state visit to Malaysia starting July 25, a day after his second State of the Nation Address (SONA).

"[MIF] will be a very, very important vehicle to attract more resources and investments into the country, to supplement our resources that are provided for in the national budget for developmental initiatives, infrastructure, in the power and agriculture sectors,” Speaker Martin Romualdez said on Sunday.

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From A1 work, how the government works. It is also how we are seen or judged in the international community. That’s equally important,” Mr. Marcos said on the eve of his address to Congress at the Batasang Pambansa in Quezon City.

“We have done a lot of growth (and) we are beginning to see thesystemic changes that are going to be part of the new bureaucracy, but there is still a long way to go,” he added (See the Standard's Special Supplement on the SONA in Section C —Editors).

Mr. Marcos, who swept to power with a landslide victory in the May 2022 elections, stressed that his administration is working hard to reinvigorate the economy, putting a premium on the agriculture sector which plays a vital role in the country’s development.

His first State of the Nation Address, which lasted an hour on July 25, 2022, started on time, flowed without departure from his script, and was free from the expletives that marked his predecessor Rodrigo Duterte's SONA speeches.

But Mr. Marcos also presented himself as a leader who would continue at least some of the programs and policies of Duterte, who will be present in today's SONA along with former President and Pampanga Rep. Gloria MacapagalArroyo in the VIP box of the Batasang Pambansa.

Speaker Ferdinand Martin Romualdez, meanwhile, vowed to follow the President’s lead when he pursues his goals from the first SONA to bring down inflation and unemployment.

While the Marcos administration is “not there yet” in achieving some of the objectives it set during the first SONA, it has made great strides in bringing down inflation, unemployment, and the price of rice in the country, he said. He said inflation continued to slow down up until last month when it settled at 5.4 percent in June from a high of 8.7 percent at the start of the year.

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From A1

Despite the removal of COVID-19, Bautista said public transportation facilities will be frequently sanitized.

The DOH on Saturday urged the public to follow health protocols despite the lifting of the state of public health emergency.

Continued awareness and adherence to recommended health protocols are paramount to safeguarding communities from potential health risks, the DOH said in a press statement Saturday.

“It is crucial to recognize that while the state of the public health emergency is lifted, we must remain vigilant and

‘Egay’...

From A1 in the National Capital Region for the same reasons. Tropical cyclone wind signal no. 1 was raised over Catanduanes, theeastern portion of Camarines Sur, the northern portion of Aurora, theeastern portion of Isabela, the eastern portion of Cagayan, the northern portion of Eastern Samar, and the eastern portion of Northern Samar. “Egay” may also enhance the southwest monsoon, bringing occasionalrains over several areas across the country in the next three days.

It will be closest to extreme Northern Luzon on Wednesday and make landfall over the east coast of Taiwan on

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From A1 that we have that we can finish the national 2024 budget. That is the most important piece of legislation,” he said. The budget, Romualdez said, “aims to sustain the country’s economic growth, create more income and job opportunities for the people and improve their quality of life through the timely delivery of basic social services like education, health care, and infrastructure."

Romualdez said the sovereign wealth fund is “not only beneficial but [also] necessary.”

"[We have a] growing economy that needs to entice foreign investors to ramp up the improving and recovering local economy," the Speaker added.

Employers Confederation of the Phil-

Other lawmakers on Sunday urged the Chief Executive to look forward, speak the truth, and lay out a map to the country's future through the SONA.

The SONA is “not just a throwback moment for the year gone, but a battle plan on how we can fast-forward to what we hope to achieve,” Batangas Rep. Ralph Recto said. “It is not a mere replay of the past, but a preview of the future, setting a vision so compelling that it inspires and unites the entire nation to work hard for it.”

Albay Rep. Joey Sarte Salceda said the President’s speech should focus more on “moving forward with the task of national greatness.”

He said the task at hand is how to work on the basic ingredients of national greatness, to become “a country that is not merely trying to survive, but [that] is ambitious.”

At the same time, Recto said, the SONA should be truthful, “because if it is not, the people will not be on the same page with the government in the critical days ahead.”

Senator Francis Escudero said a SONA cannot be all “happy pills that sugarcoat the painful but must include some bitter medicine to be swallowed for the nation to be healed of its many problems.”

"A predictable SONA is a feel-good recital of achievements, the formulaic,” he said.

“But what we need now is a SONA that will make us aware, that will surprise us, by shocking us about the great problems that we face, surprise us with the bold solutions, and scare us about the price of inaction."

He also told the President not to worry, because the people can handle the truth.

The people are aware, he said, that a SONA that contains only good news is avoiding the truth.

For every Filipino who lands a job, many more remain unemployed. For every business that opens, many entrepreneurial plans remain as dreams. For every hospital ward added, many more patients cram overflowing proactive in our approach to health and safety,” it added.

Still, Health Secretary Teodoro Herbosa commended the decision of Malacañang and agreed with the assessment that conditions now “no longer necessitate the continuation of the public health emergency status.”

The Inter-Agency Task Force (IATF) will convene for a final meeting to formally conclude the public health emergency and come out with a comprehensive final report.

Former President Rodrigo Duterte declared a state of public healthemergency in the Philippines on March 8, 2020, through Proclamation 922 after the first reported COVID-19 transmission in the country.

Thursday morning.

“Although the latest track forecast shows that 'Egay' will remain offshore for most of the forecast period, a close approach or landfall in the vicinity of extreme Northern Luzon is still not ruled out based on the forecast confidence cone,” the Philippine Atmospheric, Geophysical and Astronomical Services Administration said.

Department of the Interior and Local Government (DILG) Secretary Benhur Abalos reminded local chief executives to implement Operation L!STO Protocols before, during, and after a storm hits their area of jurisdiction.

"To say that the presence of local chief executives during calamities is critical is an understatement,” Abalos said.

During the deliberation on next year’s spending program, Congress would look into how the annual budget is being used and how laws, particularly the New Agrarian Emancipation Act, are being implemented.

“The emancipation law lifted the debt burden of our farmers. In other words, our farmers are exempted from their unsettled amortizations in the acquisition of their lots. We think that is one of the cornerstones of our President’s legislative agenda," he said.

“We in Congress would have to oversee if it is properly implemented so we ippines (ECOP) president Sergio OrtizLuis Jr., for his part, said he is optimistic about the operations of Maharlika.

“Just give it a chance because at the end of the day, when it becomes successful, it is the success of the country. When we criticize it immediately, this can hinder its success. Because you know local and foreign investors will not invest their money if they see that we ourselves don’t believe in it. I think let’s give the benefit of the doubt,” Ortiz-Luis said.

He said there are many countries that have successfully established sovereign wealth funds.

Ortiz-Luis, who is also the president of the Philippine Exporters Confedera- emergency rooms, Escudero said.

Senate Minority Leader Aquilino Pimentel III said the President should speak the “unfiltered truth” that the Filipino people deserve.

“During the President’s SONA, it is my hope that he will discuss the real situation of the Filipino People at the household level,” Pimentel said.

Among the issues that Pimentel said should take the spotlight during SONA is the high cost of living, inadequate income, problems with education, unemployment, and underemployment, and the ballooning national debt.

But while macroeconomic figures are important, Pimentel said the SONA should concentrate on microeconomic matters that concern and affect the lives of ordinary Filipinos.

The income of the typical Filipino family, he noted, is not enough for their basic needs and for their decent existence as a family of human beings.

He said those who are employed are not paid “living wages.” Many are unemployed and many more are underemployed.

He also stressed the significance of focusing on agriculture to generate jobs and food and to fight inflation.

Senate President Juan Miguel Zubiri said the prices of food should be the No. 1 focus of the President’s SONA.

"The President needs to focus on availability and lowering of food prices as the concurrent secretary of Agriculture,” Zubiri said. “He should strengthen the agricultural sector and help our farmers.”

Pimentel said he expects the President to explain various issues of concern, such as the scandal that rocked the Sugar Regulatory Administration and the reason the prices of sugar and onion reached P138 and P800 per kilo, respectively, during the first year of his term.

There should also be an explanation why POGOs—Philippine Offshore Gaming Operators--continue to operate in the country, he said. With so many problems, Filipinos must be united, he said.

“We need to get our acts together as

Two days before his second State of the Nation Address on Monday, President Ferdinand R. Marcos Jr. lifted the nationwide declaration with the issuance of Proclamation 297.

Senator Christopher Go, who chairs the Senate Committee on Health, said he respected the President’s decision to lift the state of public health emergency over COVID-19.

However, he renewed his appeal to the government to ensure that healthcare workers will receive the benefits due to them under the law. This includes COVID-19-related allowances and death benefits for those who sacrificed their lives to fight off the coronavirus. With or without the state of a public

San Juan...

From A1 vendors that participated in PulutanFest 2023, followed by Vincent's Place Kambingan Restaurant at a close second.

Vincent’s Kambingan also got the most perfect scores from the food influencer judges.

“We joined Pulutan Fest to help get the name of Mambo’s Lechon out since we are relatively new…It was really a pleasant surprise for us!

We’re flattered and grateful for the recognition,” Mambo’s Lechon said.

A takoyaki stall, Mr. Tentacles, got the People’s Choice Award, followed by Marikina-based Faye Sisig.

“Your OG in baby octo Takoyaki could help our farmers become productive for them to also help us lower the prices of commodities, such as rice, vegetables, and sugar.

We are excited to work on this,” he added.

He said the House of Representatives will expeditiously scrutinize, deliberate, and pass the national budget through a transparent process.

“Like last year, we will get the widest consensus on our spending plan among our members. Its approval is very crucial in maintaining stability and facilitating tion, Inc. (PHILEXPORT), said many local firms are keen on putting their money in the MIF while several tycoons are also willing to invest in it. problem-solvers. We need to act in good faith out of love for the country. We need to want a just, fair, and safe society,” he said. health emergency, the government should fulfill its obligations to protect the lives of Filipinos, safeguard their health, and give what is due to them, Go said.

The fund is envisioned to be invested in a wide range of assets, including foreign currencies, fixed-income instruments, domestic and foreign corporate bonds, joint ventures, mergers and acquisitions, real estate and high-impact infrastructure projects, and projects that contribute to the attainment of sustainable development.

Unlike other government-owned or -controlled corporations (GOCCs), the MIF will be able to maximize government assets through its investments in projects that generate bigger returns.

National Capital Region Police Office acting director Police Brig. Gen. Jose Melencio Nartatez Jr. on Sunday said security measures in Metro Manila were finalized a day ahead of the SONA.

The NCRPO said the security plan for this year’s SONA included strategic personnel deployments, civil disturbance management, anti-criminality intervention, counter-terrorism, traffic management, and emergency response teams.

The Quezon City government is also set to deploy thousands of personnel under its Law and Order Cluster in preparation for the SONA.

The Transport and Traffic Management Department (TTMD) will deploy 800 enforcers to help man traffic on major thoroughfares, while the Quezon City Police District (QCPD) will assign 6,123 uniformed officers and the Department of Public Order and Safety (DPOS) will use 375 personnel to assist QCPD in maintaining security and public order.

To aid those who will need immediate medical assistance and support during the SONA, the QC Disaster Risk Reduction and Management Department (DRRM) will deploy 287 personnel from its Emergency Medical Services (EMS), Search and Rescue (SAR) teams, and other additional resources to ensure the safety of the public and respond to any untoward incident.

“The Quezon City government is ready to assist during the President’s second State of the Nation Address. Our goal is to ensure a peaceful and orderly event for everyone,” Mayor Joy Belmonte said.

The city government has allowed both pro and anti-administration rallies but reminds all groups to follow laws and regulations, and not to disrupt peace and order in the affected areas.

“QC is a bastion of free speech, and we value the right of everyone to peacefully assemble as protected by our Constitution,” Belmonte said.

Senator Jinggoy Estrada said the lifting of the state of public health emergency was a step forward in the nation’s fight against the pandemic and a strong indication that the country is on the road to recovery.

BHW party-list Rep. Angelica Natasha Co also backed the decision to lift the state of emergency.

“Well-informed presidential prerogative has finally overcome the chorus of ultraconservative voices who refused to see the hard evidence and were spurred by unreasonable fears,” she said. (See full story online at manilastandard.net) just got an [award]. Thank you #PulutanFest2023 for inviting us and for the recognition of being this year’s People Choice Awardee. We’d like to share this award with all customers, colleagues, and franchisees! We hope to see you again next year,” Mr. Tentacles said in a Facebook post.

According to Arne Reodica, founder of PulutanFest, the event was a “huge success.” the seamless implementation of government programs and projects. It has significant implications for the country’s progress and development,” he said.

“Initially we were worried if the line-up of vendors were not as diverse as we envisioned but hearing feedback from eventgoers that they were overwhelmed and are so looking forward to 2024 was the best form of validation,” he said.

Joyce Babe Pañares, Manila Standard's Managing Editor, was one of the judges of the event.

"Every centavo of the national budget will be spent wisely by ensuring that spending will contribute to economic and national development. We will be setting clear priorities and making informed decisions that would further promote sustainable growth aimed at uplifting the lives of Filipino people, enhancing public services, and making our economy strong and more agile,” Romualdez added.