Maharlika Investment Corp. the Philippines’ newly created sovereign wealth fund is going back to basics by investing in projects to help build the country’s economic pillars such as agriculture, energy, tourism and infrastructure.
Toward advancing efficient, transparent, and swift government procurement, the Presidential Communications Office (PCO) has partnered with the Land Bank of the Philippines (LANDBANK) for the use of the Government Purchase Card (GPC) to pay for official goods and services. The GPC is similar to a credit card in function, designed to shorten and simplify the requisition process for government agencies and offices, as well as streamline the disbursement of payments to suppliers.
PCO Secretary Atty. Cheloy Velicaria-Garafil, MNSA, and LANDBANK Senior Vice President Marilou L. Villafranca led the signing of the Memorandum of Agreement (MOA) on 11 October 2023 at the Palacio de Maynila in Malate, Manila. They were joined by PCO Undersecretary Cherbett Karen L. Maralit and LANDBANK First Vice President Cielito H. Lunaria.
LANDBANK President and CEO Lynette V. Ortiz said that the GPC Program is designed to expedite the delivery of meaningful and responsive public service, helping government
(Bloomberg) Philippine President Ferdinand Marcos Jr. has suspended the implementation of the law creating the country’s first sovereign wealth fund pending further study, according to the head of one of the state banks mandated to provide initial capital.Most Read from BloombergHundreds Dead at Gaza Hospital as Israel, Hamas Trade BlameIsrael Latest: Biden ‘Deeply Saddened’ Over Hospital BlastTreasury Yields Climb as Hot Data Fuel Fed Wagers: Markets WrapWill Xi Jinping’s Gamble on Vladimir