• Philippine Finance Secretary Benjamin Diokno said the government is looking to tap revenues from the nation’s mining industry to help finance a proposed sovereign wealth fund that President Ferdinand Marcos Jr. and his economic team have widely pitched at a global event in Switzerland.
  • The reopening of the mining sector will generate more state revenues, which can be placed in the fund, Diokno said in a briefing in Davos, where he’s attending the World Economic Forum as part of the Philippine delegation led by Marcos.
  • Funding the sovereign wealth fund with earnings from the sector is like setting aside an “exhaustible resource” for the benefit of “future generations,” he said, according to a transcript released by the president’s communications office late Wednesday.