Republic Acts1 min read
Section 4Sec./Art. 4
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Establishment of the Maharlika Investment Corporation.- There is hereby created a corporate body to be named as the "Maharlika Investment Corporation". The MIC shall act as the sole vehicle for the purpose of mobilizing and utilizing the MIF for investments in transactions in order to generate optimal returns on investments (ROIs), while contributing to the overall goal of reinvigorating job creation and accelerating poverty reduction by sustaining the economy's high growth trajectory, while ensuring sustainable development.
The MIC shall govern and manage the Fund in accordance with the objectives and purposes set forth in this Act, ad other laws, rules and regulations, and it shall adhere to the Santiago Principles and other internationally-accepted standards of transparency and accountability: Provided, That the MIC shall coordinate with all relevant institutions to ensure harmonization of policies.
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