Marcos: Maharlika Fund IRR finalized

President Ferdinand Marcos Jr. on Monday said the government has already finalized the Implementing Rules and Regulations for the Maharlika Investment Fund.

"The Implementing Rules and Regulations of Maharlika Investment Fund have been finalized," Marcos said in a social media post.

"Upon our approval, we'll swiftly establish the corporate structure, getting the MIF up and running," he added.

Republic Act No. 11954, also known as the Maharlika Investment Fund Act of 2023, was enacted by Marcos in July to use public assets for investment projects to raise more money for the government.

The government-owned Maharlika Investment Corp. is established by law to oversee the MIF, a fund pool obtained from state-run financial institutions and allocated to real estate, financial instruments and high-impact projects.

In August, the IRR was made public, signaling the start of MIF's operationalization. But On 18 October, Malacañang suspended it "pending further study."