21-7-2023 (MANILA) President Ferdinand “Bongbong” Marcos Jr. is scheduled to embark on a visit to Malaysia, arriving a day after delivering his second State of the Nation Address, as announced by the Department of Foreign Affairs (DFA).
DFA Spokesperson, Ma. Teresita Daza, revealed in a Friday briefing that President Marcos, accompanied by his wife, First Lady Liza Araneta Marcos, received a formal invitation from the King of Malaysia to visit the country from July 25 to July 27.
“The president will have an audience with the King of Malaysia and a meeting with Prime Minister Anwar Ibrahim to explore new areas of cooperation between the two nations,” Daza stated.
During his visit, President Marcos is also expected to engage with prominent Filipino and Malaysian business leaders, with the aim of fostering stronger bilateral trade, investment, and economic opportunities for Filipinos.
Amidst the discussions, it is anticipated that the recently signed Maharlika Investment Fund (MIF) will be on the agenda. DFA Spokesperson Daza mentioned that it is “safe to assume” that the topic will feature prominently during the bilateral meetings.
The forthcoming visit holds particular significance as the Philippines and Malaysia approach the commemoration of their 60th year of diplomatic relations in 2024.
Notably, Prime Minister Anwar Ibrahim has previously cautioned the Philippine government about Malaysia’s experience with its own state fund, 1Malaysia Development Bank (1MDB). The 1MDB scandal, which surfaced in 2015, involved allegations of financial misconduct among government leaders and private financial institutions. In March, during an interview on ANC, Prime Minister Anwar urged the Philippines to thoroughly study the 1MDB case before establishing its own wealth fund.
