I AGREE with Albay Rep. Joey Salceda, the country’s foremost economist, that it’s now time to move on following the approval of the Implementing Rules and Regulations of the Maharlika Investment Fund or MIF.

The lawmaker is correct in saying that the country must now focus on more pressing issues like what investments are the most critical at this point of the country’s development.

In fairness, the Philippine economy is presently on the right track, recording growth in the third quarter this year.

Inflation and unemployment are also down. What a perfect time to make a wise investment move through the MIF.

For me, investing on sustained infrastructure development would be very helpful for the national economy. Building more skyways and improving our mass transport system could hasten economic progress.

The MIF aims for enhanced investment capital, infrastructure development, increased foreign investment and strengthened government.

The government has yet to start the implementation of the MIF, but President Marcos has stated it will be implemented before the end of the year.

Just recently, the Office of the President (OP) released the revised IRR of the MIF. The IRR strengthened some of the provisions of the MIF to ensure a professional management of fund, free from political interference aligned with principles of good governance.

The revision was carefully studied by the Marcos administration to ensure transparency and accountability in implementing the provisions of the Republic Act No. 11954, the law that created the country’s first ever sovereign wealth fund.

Yes, there are some criticisms about the decision of the government about the revised IRR. There are also a lot having doubts of its good intention.

But such can be considered a normal reaction in a democratic country like the Philippines where one’s opinion and freedom of expression are given importance and significant weight.

President Ferdinand R. Marcos Jr. said there is no reason for the Filipino people to worry about the objectives of the revised IRR of the MIF as it was drafted to ensure that the RA 11954 will be correctly implemented, will be independent and free from political interference.

Supporting the President’s statements, Monetary Board Member and former Treasurer of the Philippines Rosalia De Leon said the IRR has now more independence in determining the specific qualifications of the other officers of the Maharlika Investment Corporation (MIC) – the entity that will run the operation of the MIF — in order to carry out its mandate to efficiently manage the MIF.

Lawmakers earlier crafted the law for the MIF to uplift the lives of the Filipino people and bring national development.

Meanwhile, House Speaker Martin Romualdez said the revision of the MIF IRR is a significant step towards enhancing corporate governance and ensuring that the MIF is managed with the utmost transparency and accountability.

The lawmaker hailed President Marcos’ commitment to strengthening the independence of the MIC’s Board of Directors.

The House leader said the President’s directive to review and strengthen the IRR of the MIF underscores the importance of safeguarding this national asset, further assuring a well-rounded perspective in managing the fund.

The way I see it, MIF is a safe and dependable tool for progress. Let’s give it a chance to prove its worth.

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