Finance Secretary Ralph Recto said over the weekend he met with top executives of Washington-based international strategic advisory firms to discuss potential collaboration on strengthening the Maharlika Investment Fund (MIF) and improving digitalization efforts in revenue generation.
McLarty Association vice chairman John Negroponte and Ankura chairman of Latin America and Caribbean Fernando Batlle extended their support to the MIF by offering strategic advisory services to improve management, enhance investor participation and attract more investments into the Fund.
Both executives also offered their assistance to the Department of Finance (DOF) in enhancing its digitization systems to combat tax fraud and optimize tax collection efficiency.
Recto welcomed the firms’ offer to assist the government in its digitization initiatives and in ensuring that the MIF fulfills its overarching objectives, drawing from their extensive practical experiences in various countries over the years.
A delegation from McLarty and Ankura is expected to visit the Philippines to further discuss partnerships on the said areas.
Recto serves as chairman of the Maharlika Investment Corp. (MIC) which was established under Republic Act (RA) No. 11954.
The MIC is the sole vehicle responsible for mobilizing and utilizing the Maharlika Investment Fund (MIF) for investments in transactions aimed at generating optimal returns on investments (ROIs).
It establishes a diversified portfolio of investments in the local and global financial markets and in other assets that promote the commercial, developmental and strategic objectives of the Fund.
MIC president and chief executive Rafael Jose Consing Jr. said the industry focuse of the fund includes infrastructure; oil, gas, and power; agroforestry industrial urbanization; mineral processing; tourism; transportation; and aerospace and aviation.
