00:00 True to his word, the president has had the Maharlika investment funds tweaked to allow for greater independence and more safeguards to assure its
00:07 integrity and saleability to both investors and to the Filipino people as well.
00:12 Armando Las Muertas has more on government's technocrats and legislators who weighed in on the latest developments on the MIF.
00:22 House Speaker Martin Romualdez commended the final version of the implementing rules and regulations of the Maharlika Investment Fund Act
00:30 released by Malacanang. Under the final IRR, the independence of the Board of Directors of the Maharlika Investment Corporation was strengthened
00:39 and the president was given the rightful authority to accept or reject the nominees submitted by the MIC Advisory Board.
00:46 I think it's already done. The IRR is already done. So I think right now, we're organizing the board. So I think that's a very, very great step forward.
00:57 Meanwhile, for House Committee on Banks and Financial Intermediaries Chair Irwin Ching, the reinforcement of the MIC Board's independence is fundamental
01:06 in ensuring prudent and effective decision-making. That's why he also commended the final IRR.
01:12 House Senior Deputy Speaker Don Gonzales added, "Overall, as it was approved by President Ferdinand R. Marquez, Jr., himself,
01:19 he's certain that it has enough safeguards and will be beneficial for the country."
01:24 In an interview, House Ways and Means Committee Chair Joey Salceda particularly praised the appointment of Rafael Consigno, Jr.,
01:31 as the president and chief executive officer of the MIC.
01:35 I'm sure he has enough experience and is known to the whole world. He's the CFO of 32 countries. He has many awards for being chief financial officer.
01:48 And now that President Marquez is set to attend the Asia-Pacific Economic Cooperation Summit in California,
01:54 he believes the MIF will gain support from other countries through this significant event.
02:00 Of course, we need to sell. The APEC is huge. It's the biggest economy block in the world.
02:08 Both sides of the Pacific, all our trading partners are there.
02:15 Melalee Esmoraz for the Nation
