Push Admin

#SONA2023: Maharlika fund to play big role in Marcos' P8.3-trillion infra push'

Article (news)

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="President Ferdinand Marcos Jr. said the Bataan-Cavite Interlink Bridge is among the priority infrastructure projects of his administration. Handout/file" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/life/10/20/20201020-cavite-bataan-bridge.jpg"/><figcaption>President Ferdinand Marcos Jr. said the Bataan-Cavite Interlink Bridge is among the priority infrastructure projects of his administration. Handout/file</figcaption></figure></div>MANILA - The Maharlika Investment Fund will play an important role in the government’s aggressive infrastructure push, President Ferdinand Marcos Jr. said on Monday during his second State of the Nation Address. Marcos intends to keep infrastructure spending at 5 to 6 percent of the country’s gross domestic product, and that his P8.3 trillion Build Better More program “is currently in progress and being vigorously implemented.”“For strategic financing, some of the nation’s high-priority projects can now look to the newly-established Maharlika Investment Fund without the added debt burden,” Marcos said. The President <a href="https://news.abs-cbn.com/video/news/07/18/23/marcos-signs-maharlika-investment-fund-bill-into-law">signed </a>the Maharlika law last week that will create a P500 billion fund. He said the government currently has 194 major infrastructure projects, of which 123 are new. Among the projects he specifically mentioned in his SONA were the 1,200-kilometer Luzon Spine Expressway network, the Megabridges program, and the North-South Commuter Railway (NSCR) project. He said the Luzon tollway network will cut travel time between Ilocos and Bicol to just 9 hours, from 20 hours at present. The NSCR meanwhile will cut travel time between Pampanga and Laguna to just 2 hours from 4 hours. Marcos also mentioned the Bataan-Cavite Interlink bridge, the Panay-Guimaras Negros Island bridges, and the Samal Island-Davao City Connector Bridge as priorities of his administration. The President said Maharlika can be used for “high impact and profitable investments” under the Build Better More program. “To ensure sound financial management a group of internationally-recognized economic managers shall oversee the operations of the fund, guided by the principles of transparency and accountability,” Marcos said. The administration pushed hard for the creation of the Maharlika fund despite doubts and criticisms from many economists. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/news/06/07/23/diokno-dismisses-maharlika-fund-criticism-from-up-school-of-economics">Diokno dismisses Maharlika Investment Fund criticism from UP School of Economics</a></li>	<li><a href="https://news.abs-cbn.com/business/03/14/23/construction-of-cavite-bataan-bridge-set-for-late-2023-dpwh">Construction of Cavite-Bataan bridge set for late 2023: DPWH</a></li></ul><div> </div>

The Maharlika Investment Fund is going to play an important role in the government’s aggressive infrastructure push, President Ferdinand Marcos Jr said on Monday during his second State of the Nation Address. 