Senator Mark Villar on Sunday said the government can use the Maharlika Investment Fund (MIF) to respond quickly to investment opportunities.
Villar also said the MIF will be advantageous for the government and could lead to higher investments, adding that the MIF will serve as another source of funds to speed up big-ticket projects.
“We learned a lot from the first hearing. First of all, the purpose of the fund is to widen the funding sources available to the government,” Villar said.
Villar, the chairperson of the Senate Committee on Banks and Financial Institutions, said the government has the option to allocate the national budget to programs and projects that may directly affect the welfare of the people.
“It will complement the usual modes of funding for major infrastructure projects, like GAA, ODA and PPP. This will boost our push for infrastructure development. ” he added.
Aside from infrastructure and foreign investments, he also said that other benefits from the MIF would include more jobs for the Filipinos, intergenerational benefits, and the transfer of technology and knowledge.
“At the end of the day, more projects and investments through the MIF will translate into more jobs for the Filipino people” Villar said.