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In late November 2022, seven lawmakers in the Philippine House of Representatives, including Martin Romualdez and Sandro Marcos, filed House Bill No. 6398, [b] proposing the creation of a sovereign wealth fund for the Philippines to be known as the Maharlika Wealth Fund (MWF), inspired from South Korea's sovereign wealth fund.
The Marcos administration approved 194 infrastructure projects, ranging from public transport, power, health, information technology, water resources, and agriculture. [ 1 ] [ 2 ] 77 of those project were carried from past administrations while 123 are “new and initiated” by the Marcos administration. [ 3 ]
Despite this, Malacañang maintains that these trips are crucial for securing investments and advancing the administration's economic agenda. [113] Marcos himself has consistently emphasized the importance of positioning the Philippines as a key investment destination in Asia, citing ₱3.9 trillion in investment pledges secured during his ...
Marcos ran for president on a campaign platform centered on national unity and continuity of the policies of Rodrigo Duterte, his predecessor. [20] [21] He won the 2022 elections, receiving 31,629,783 (58.77%) votes out of a total of 56,097,722, beating his closest rival, Liberal Party member and Vice President Leni Robredo by over 15 million votes.
AmBisyon Natin 2040 (literally "Our Ambition 2040") is the twenty-five-year long term vision developed by the Philippine government as a guide for development planning. [1] [2] It is designed to overcome the challenges brought by the Philippines' current political system, which is bound to the limits of the country's six-year presidential terms. [3]
The Philippines 2000 program would be succeeded by other socio-economic programs: Angat Pinoy 2004, instituted by Joseph Estrada, the ten-point Strong Republic agenda instituted by Gloria Macapagal Arroyo, Daang Matuwid agenda instituted by Benigno Aquino III, DuterteNomics agenda instituted by Rodrigo Duterte, and Bagong Pilipinas agenda instituted by Bongbong Marcos
Marcos built his campaign on the promise that his administration would change the Philippine economy and government. Marcos had inherited an economy was growing at a steady pace, but he gave the impression of even quicker results by using foreign loans to fund projects. He attracted a new breed of economic managers to work under his administration.
Their products were of poor quality and were poor value of money. The traditional economic mainstay of the Philippine ruling elite has been export agriculture. Development strategy in the Marcos era continued to rely on this sector as a major source of income and foreign exchange, between 1962 and 1985, export crop acreage more than doubled.