President Ferdinand ‘Bongbong’ Marcos Jr. announced that the implementing rules and regulations (IRR) for the Maharlika Investment Fund (MIF) have been officially completed. This development was shared by President Marcos on Monday, November 6.
He also mentioned that with the IRR now in place, the corporate structure of the fund will be promptly established, aiming to get the MIF operational as soon as possible.
Recalling that the President had temporarily suspended the Maharlika Fund’s implementation on October 12 for further evaluation, it was clarified on October 19 that this pause was solely to refine the fund’s organizational structure and make it as ideal as possible. President Marcos emphasized that the fundamental concept of the Maharlika Fund remains sound and that the suspension of the IRR’s implementation should not be misinterpreted as a judgment of its overall validity.
As per his statement, the fund is expected to be operational before the end of 2023.
