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Philippines makes slow progress on SWF plan

Richard Newell
Legislative bottlenecks are delaying the establishment of the development fund. Outstanding issues include the amount to be invested and whether it will use an offshore asset manager.
Philippines makes slow progress on SWF plan

The Philippines is moving towards introducing a sovereign wealth fund, but draft legislation appears to have stalled, with no schedule set for its discussion by Senate committees, local sources have told AsianInvestor. It is therefore seen as unlikely to go live this year, despite strong support for the plan.

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