Business leaders in Saudi Arabia expressed their warm response to the Maharlika Investment Fund (MIF) on Thursday as they signified their intention to learn on the success stories of the Philippines in terms of its finances.

In his opening remarks during the roundtable with the business leaders, Saudi Ministry of Investment Minister Khalid Al-Falih said that Saudi investors are eager to learn from the Philippines’ finances being one of ASEAN’s most exciting markets.

Al-Falih added that Saudi’s business communities are particularly interested about the MIF.

“We want to connect you to key Saudi investors with impressive success stories to share and with the desire to continue building with international presence by investing with partners across the globe, the Philippines being a key one,” Al-Falih said.

“I am pleased that we are joined today by leaders and the sector from Saudi Arabia who are eager to learn more about the investment, opportunities and one of ASEAN’s most exciting markets and learn more about the newly-launched Maharlika Investment Fund that you have launched under your administration,” he added.

Al-Falih also lauded the Philippines for its efforts to make the country a cashless society by 2030 and for mobile finances as he emphasized that the Saudi government can impart knowledge to their “highly successful banking sector.”

During the roundtable discussion, Mulhan Albakree, Executive General Manager of Public Investment Fund of the Kingdom of Saudi Arabia, expressed his interest in the Maharlika Investment Fund.

Bandar Al Hamali, the CEO of Jada, one of Saudi Arabia’s biggest investment companies, also expressed interest in the MIF.

For his part, President Ferdinand R. Marcos Jr. urged Saudi businessmen to take the opportunity and invest in the MIF for infrastructure projects as he looks forward to benefit not only from Saudi’s investments but also to learn from its extensive experience in financial management.

“At the forefront of these opportunities is the recently launched Maharlika Investment Fund, the Philippines’ first-ever sovereign investment fund designed to drive long-term economic development through increased investments in high-impact sectors,” the President said.

“We look forward to benefiting not just from Saudi investments, but also from the Kingdom’s extensive experience in managing such funds,” he added.

President Marcos is in Riyadh, Saudi Arabia to attend the ASEAN-GCC Summit. |PND

Photo Courtesy of PCO