Marcos signs bill creating Philippines' first-ever wealth fund

Marcos signs bill creating Philippines' first-ever wealth fund

FILE PHOTO: Philippine President Ferdinand Marcos Jr. discusses "the modernization of the U.S.-Philippines alliance," during an event at the Center for Strategic and International Studies in Washington, U.S., May 4, 2023. REUTERS/Nathan Howard/File Photo

Philippine President Ferdinand Marcos Jr on Tuesday approved a bill creating the country’s first sovereign wealth fund, which he touted as a key plank of his economic goals to modernise infrastructure and accelerate the country’s growth.