The Maharlika Investment Corporation (MIC) was born in 2023 in the Philippines to manage the Maharlika Investment Fund (MIF), a new Strategic Fund that will support the administration’s economic goals set in the Medium-Term Fiscal Framework, the 8-point Socioeconomic Agenda, and the 2023-2028 Development Plan to widen the country’s fiscal space and ease pressures in financing public infrastructure projects. It is modeled after India's NIIF and Indonesia's INA, and it is expected to attract foreign investment in addition to the US$ 2.3 billion initially seeded by the national government.